Explanation
BACKGROUND: Resolution 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 2009, the City of Columbus had a total of 12 active DOI projects for which employers have met the requirements of their DOI agreements and thus are eligible to receive their payments for 2009. The total dollar amount to be disbursed for these 12 2009 DOI payments is $903,408.40. The 12 projects with the DOI payment subtotals are as follows: $11,918.97 to BHDP Architecture; $14,597.59 to Brady, Ware & Shoenfeld; $23,339.73 to Eye Center of Columbus; $209,093.67 to GatesMcDonald & Company; $3,717.61 to GSP/OH Inc.; $21,974.67 to Motorists Insurance Group; $19,004.40 to Ohio Credit Union League & Affiliate; $250,000.00 to OhioHealth Corporation; $140,151.14 to Plante & Moran and Affiliates (Agreement #1); $3,522.39 to Plante & Moran and Affiliates (Agreement #2); $135,002.67 to Resource Interactive; and $71,085.56 to SBC Advertising.
FISCAL IMPACT: The total dollar amount to be disbursed for these 12 2009 DOI payments is $903,408.40. The transfer amount of $225,852.10 has been factored into the current special income tax analysis and resultant capital capacity. The remaining amount of the payment is included in the 2010 General Fund Budget.
Title
To authorize and direct the City Auditor to appropriate and transfer $225,852.10 from the Special Income Tax Fund to the General Fund; to authorize and direct the City Auditor to make payments totaling $903,408.40 in accordance with the Downtown Office Incentive Program agreements; to authorize the expenditure of $903,408.40 from the General Fund; and to declare an emergency. ($903,408.40)
Body
WHEREAS, Resolution No. 00...
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