Explanation
BACKGROUND: The City of Columbus (City) entered into a Jobs Growth Incentive Agreement (hereinafter “Agreement”) with Simonton Windows, Inc., (also referred to as the “Grantee”) effective May 23, 2011. Columbus City Council approved the Agreement by Ordinance 0348-2011, approved March 14, 2011, and granted a financial incentive based on an amount equal to twenty-five percent (25%) of the new Columbus withholding tax paid by the new employees at the project site, to commence on January 1, 2011 for a period of seven (7) consecutive taxable years based on an investment of approximately $1.1 million in leasehold improvements and personal property, the relocation of 49 full-time positions to the City of Columbus and the creation of 46 new permanent full-time positions at 3948 Townsfair Way, Columbus, OH 43219. The Agreement was subsequently authorized to be amended for the first time to add Simonton Building Products, Incorporated as an additional Grantee to the Agreement by Ordinance 2284-2012, passed October 29, 2012, with this First Amendment entered into effective as of the date and year first written in the Agreement.
In a letter from the Grantee received by the City on May 19, 2015, the Grantee indicated that “Simonton Building Products, Inc. was merged into Simonton Building Products, LLC on the date of August 24, 2014” and that “the reorganization was a change in the legal entity form from a corporation to Limited Liability Company” and that “Simonton Building Products, LLC has the same attributes and operations from Simonton Building Products, Inc.” As such, the need exists to amend the Agreement remove Simonton Building Products, Incorporated as the additional Grantee to the Agreement and to add Simonton Building Products, LLC as the additional Grantee to the Agreement.
This legislation is requested to be considered as an emergency in order to remove Simonton Building Products, Incorporated as a Grantee to the Agreement and to add Simonton Bui...
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