Explanation
BACKGROUND: Columbus City Council, by Ordinance 0027-2010, passed January 25, 2010, authorized the City to enter into a Job Creation Tax Credit Agreement (Agreement) with CallCopy, Inc. for a tax credit of sixty-five percent (65%) for a period of eight (8) years in association with a total investment of approximately $450,000 in machinery and equipment, the retention of 21 full-time permanent jobs with an annual payroll of approximately $1,390,000, and the creation of 50 new full-time, permanent positions with an annual payroll of approximately $3,000,000. The project involved the relocation of the company from 1177 Olentangy River Road to 530 W. Spring Street. CallCopy, Inc. also considered Florida, California and India on the basis of access to customers, complementary business and talent pool. The Agreement was made and entered into to be effective March 18, 2010 by and between the City and CallCopy, Inc. with the term to commence January 2010 and to continue for eight (8) consecutive taxable years thereafter.
In a letter dated September 5, 2013, CallCopy, Inc. stated that they intend to relocate their employees from their current location to two newly-acquired buildings. This same letter requested that 551 and 555 South Front Street, collectively, replace the current Project Site - 530 West Spring Street - on the Agreement.
This legislation seeks to replace 530 West Spring Street with 551 and 555 South Front Street as the Project Site within the Agreement.
This legislation is presented as an emergency measure in order for this amendment to be legislated in as expedient manner as possible so that this amendment to the Agreement can be executed allowing CallCopy, Inc. to make use of the tax credit without undue delay.
FISCAL IMPACT: No funding is required for this legislation.
Title
To authorize the Director of the Department of Development to amend the Job Creation Tax Credit Agreement with CallCopy, Inc. to replace 530 West Spring Street...
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