Explanation
BACKGROUND: Resolution No. 0088X-2007, adopted June 4, 2007, supported the continuation of the Columbus Downtown Office Incentive Program (DOI) as one of the development tools needed to implement the Downtown Business Plan. This legislation authorizes the payments to employers who have met the requirements of their Downtown Office Incentive Program agreement.
For tax year 2023 (also calendar year and/or report year), the City of Columbus had a total of seven (7) DOI agreements for which employers have met the requirements of their DOI agreements and thus are eligible to receive their benefit payments for calendar year 2023. The total dollar amount to be disbursed for these seven (7) 2023 DOI agreements is $879,438.45. The seven (7) agreements with the DOI payment subtotals are as follows: (1) $23,185.74 to AndHealth, LLC; (2) $152,721.12 to BBI Logistics, LLC; (3) $422,818.45 to Chipotle Mexican Grill of Colorado, LLC, et al.; (4) $111,698.29 to Coastal Ridge Real Estate Partners, LLC; (5) $46,916.13 to Electrical Specialists, Inc. dba The Superior Group; (6) $27,775.54 to Everstream Solutions, LLC; and (7) $94,323.18 to Orveon Global US, LLC.
Tax year 2023 (also calendar year and/or report year) is the first year in which AndHealth, LLC reported. This is the last reporting year for BBI Logistics, LLC.
Emergency action is requested so that the City can make payment as soon as possible and in accordance with the Downtown Office Incentive Program agreements.
FISCAL IMPACT:
The 2024 General Fund budget (citywide account) includes funding for these payments. An amount equal to 25 percent (25%) of the payments will be expended from the Income Tax Set Aside Subfund
Title
To authorize the City Auditor to appropriate funds within the General Fund Income Tax Set Aside Subfund; to authorize the City Auditor to transfer $659,578.84 within the General Fund; to authorize the payment of $879,438.45 in accordance with the Downtown Office Incentive (DOI) P...
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