City of Columbus - File #: 1492-2009

• File #: 1492-2009
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 10/28/2009
• In control: Development Committee
• On agenda: 11/16/2009
• Final action: 11/17/2009
• Title: To authorize and direct the City Auditor to make payments totaling $414,248.61 in accordance with the Jobs Growth Incentive Program agreement between the City of Columbus and Nationwide Children's Hospital; to authorize the expenditure of $414,248.61 from the General Fund; and to declare an emergency. ($414,248.61)

Date	Ver.	Action By	Action	Result
11/17/2009	1	ACTING MAYOR	Signed
11/17/2009	1	CITY CLERK	Attest
11/16/2009	1	Columbus City Council	Approved	Pass
11/16/2009	1	COUNCIL PRESIDENT	Signed
11/2/2009	1	Dev Drafter	Sent to Clerk's Office for Council
10/30/2009	1	Dev Drafter	Sent for Approval
10/30/2009	1	Auditor Reviewer	Reviewed and Approved
10/30/2009	1	CITY AUDITOR	Reviewed and Approved
10/30/2009	1	Dev Drafter	Sent for Approval
10/30/2009	1	CITY ATTORNEY	Reviewed and Approved
10/29/2009	1	Dev Drafter	Sent for Approval
10/29/2009	1	Finance Reviewer	Reviewed and Approved
10/29/2009	1	Finance Reviewer	Reviewed and Approved
10/29/2009	1	FINANCE DIRECTOR	Reviewed and Approved
10/28/2009	1	Dev Drafter	Sent for Approval
10/28/2009	1	DEVELOPMENT DIRECTOR	Reviewed and Approved

Explanation

BACKGROUND: Ordinance 1902-2008, passed December 1, 2008, authorized the Director of the Department of Development to enter into a Jobs Growth Incentive (JGI) agreement with Nationwide Children's Hospital to pay annually an amount equal to thirty percent (30%) of the personal income tax withheld on new employees for a term of up to 15 years, not to exceed $15 million, in consideration of Nationwide Children's Hospital's proposed investment of $842 million and the creation of 2400 full-time permanent positions.

This legislation authorizes the first annual payment to Nationwide Children's Hospital in accordance with the JGI agreement. Nationwide Children's Hospital has met the requirements of their JGI agreement and is eligible for payment for the 2008 reporting year.

FISCAL IMPACT: Funding for this payment is from the General Fund. For tax year 2008, the City of Columbus had a total of six (6) active JGI projects for which employers have met the requirements of their JGI agreements and thus were eligible to receive their payments for 2008. Payments for five (5) of those projects were made earlier in 2009. At that time Nationwide Children's Hospital was not in a position to report but they are so presently. The total dollar amount to be disbursed for the Nationwide Children's Hospital 2008 JGI payment is $414,248.61.


Title

To authorize and direct the City Auditor to make payments totaling $414,248.61 in accordance with the Jobs Growth Incentive Program agreement between the City of Columbus and Nationwide Children's Hospital; to authorize the expenditure of $414,248.61 from the General Fund; and to declare an emergency. ($414,248.61)


Body

WHEREAS, the Columbus Jobs Growth Incentive Program is one of the development tools utilized by the City of Columbus to encourage new job creation; and

WHEREAS, it is necessary to authorize payments to employers who have met the requirements under their Jobs Growth Incentive Program agr...