Explanation
BACKGROUND: The purpose of this ordinance is to give the Director of the Department of Development the authority to enter into a Memorandum of Understanding (MOU) with The Ohio State University Medical Center (OSUMC). The MOU will outline the plans and certain commitments of the parties relating to the major expansion of both the OSU Hospital Main Campus and the University Hospital East. This will be accomplished by redefining the health of the local community surrounding the University Hospital East by focusing on neighborhood, health & wellness, education, and housing. The plans and proposals remain subject to authorization pursuant to the adoption of appropriate legislation by Columbus City Council.
Under the MOU, The City will provide a 30% Jobs Growth Incentive for fifteen (15) years for all new OSUMC employees related to the Expansion Project. The incentive is subject to City Council approval.
In consideration of the City of Columbus economic development incentives, OSUMC will commit to add approximately 6000 and retain 12,883employees by the end of 2015. In addition OSUMC will invest up to $1,000,000,000 in real and personal property investments for the Expansion Project. In addition, OSUMC will undertake a comprehensive assessment/planning study of the near east side community, with a specific focus on revitalization of areas in and around Taylor Avenue. OSUMC will invest up to $100,000 to study specific needs of the community and its residents.
OSUMC will invest up to $15,000,000 in capital cost and equipment to build or purchase a facility to provide expanded healthcare services to the community. OSUMC will secure external funding and invest up to an additional $1,000,000 to implement a program of personalized healthcare for the community contingent upon the satisfaction of other economic conditions.
OSUMC will increase opportunities for individuals interested in health sciences careers by providing education and training t...
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