Explanation
BACKGROUND: The need exists to amend the City of Columbus Jobs Growth Incentive Agreement (“AGREEMENT”) between the City of Columbus (“CITY”) and Nationwide Children’s Hospital Inc. and its affiliated entities, including but not limited to, Pediatric Academic Association, (collectively referred to as Nationwide Children’s Hospital, and hereinafter referred to as “GRANTEE”). Columbus City Council (“COUNCIL”), by Ordinance No. 3112-2015 (the, “ORIGINAL ORDINANCE”), passed on December 14, 2015, authorized the Director of the Department of Development to enter into an AGREEMENT with the GRANTEE for an annual cash payment equal to thirty percent (30%) of the City of Columbus income tax withheld on the Columbus payroll of new employees at the PROJECT SITE, for a term up to fifteen (15) years. The ORIGINAL ORDINANCE was amended by COUNCIL on July 31, 2017, Ordinance Number 2049-2017, for the purposes of revising the 90-day period needed to execute the AGREEMENT. The incentive was granted in consideration of GRANTEE’s total proposed investment of approximately $189 million, which included renovations of an existing facility that consists of approximately 60,000 square feet, construction of a 6-story community ambulatory center on the corner of Grant and Livingston Avenues, construction of a 6-story office facility on the SE corner of Parson and Livingston Avenues that consists of approximately 120,000 square feet, construction of a 2-story central energy plant that consists of approximately 30,000 square feet, construction of interior roadways, a small park, and a clinical building with an adjoining parking garage. In addition, the GRANTEE proposed to retain 11,948 full-time permanent positions with an annual payroll of approximately $584,217,791.00 and the creation 1,500 net new full-time permanent positions with an associated estimated annual payroll of approximately $75 million (the “PROJECT”) at 700 Children’s Drive, Columbus, Ohio 43205 and the surrou...
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