Explanation
BACKGROUND: The purpose of this ordinance is to authorize the Director of the Department of Development to accept a grant from the Roadwork Development (629) Account of the Ohio Development Services Agency valued at $300,000 and a grant from the Ohio Department of Transportation valued at $250,000, contingent on State Controlling Board approval, for improvements to a public roadway near Schrock Road (Parcel ID 610-291371) to benefit the expansion of operations of SEA, Ltd. (Scientific Expert Analysis, Ltd.), to appropriate the monies within the General Government Grant Fund and, in turn, authorize the Director of the Department of Public Service to enter into a guaranteed maximum cost agreement with SEA, Ltd. to construct the improvements.
The roadwork grants, and this associated request for authorization to accept the grants, are part and parcel of an incentive package to allow SEA, Ltd. to expand in Columbus. SEA, Ltd. will invest an estimated $9.4 million at the site with $9 million toward building construction and $400,000 in machinery, equipment, furniture and fixtures. A total of 96 existing full-time positions will be retained and 30 new full-time permanent positions will be created within three years.
Total infrastructure costs to accommodate the construction of a new global corporate headquarters for SEA, Ltd. are estimated to be approximately $1.224 million and will be shared by the State of Ohio and SEA, Ltd.
Authorization to apply for said grant funds was approved under Columbus City Council Ordinance 2906-2013, dated December 16, 2013.
This legislation is submitted as an emergency in order to make use of the state grants as soon as possible after State Controlling Board approval.
FISCAL IMPACT: The City will receive a total of $550,000 to apply towards public roadway improvements near Schrock Road. This ordinance contains an appropriation within the General Government Grant Fund and authorizes expenditure for this purpose.
Title
...
Click here for full text