Explanation
BACKGROUND: This legislation authorizes the payments to employers who have met the requirements of their Jobs Growth Incentive Program (JGI) agreement and are eligible for payment for the 2012 reporting (tax) year. For tax year 2012, the City of Columbus had a total of twenty-four (24) active JGI projects for which employers have met the requirements of their JGI agreements and thus are eligible to receive their payments for 2012. The total dollar amount to be disbursed for these twenty-four (24) 2012 JGI payments is $5,499,071.77. The twenty-four (24) projects with the JGI payment subtotals are as follows: $13,146.96 to Apelles, LLC; $6,591.00 to Castor Connection, Inc.; $15,905.14 to ComResource, Inc.; $3,429.94 to ContactUS, LLC; $169,841.31 to Express LLC; $2,355.01 to FIMM USA, Inc.; $107,126.31 to Grange Mutual Casualty Company; $23,944.96 to Health Care DataWorks, Inc.; $732,192.57 to The Huntington National Bank; $94,677.40 to Information Control Corporation; $16,956.27 to International Technical Coatings, Inc.; $11,641.38 to Joseph T. Ryerson & Son, Inc.; $2,092,774.14 to JPMorgan Chase Bank N.A.; $120,053.31 to La Senza, Inc., $87,378.64 to The Limbach Company, LLC; $22,613.55 to Manta Media, Inc.; $56,816.99 to Mission Essential Personnel LLC; $1,776,505.71 to Nationwide Children’s Hospital, Inc.; $23,302.32 to OVCS, Inc.; $1,523.09 to Pactiv LLC; $13,047.13 to Sequent, Inc.; $95,195.97 to Simonton Windows, Inc.; $5,331.57 to Syscom Advanced Materials, Inc.; and $6,721.10 to Zyvex Performance Materials, Inc.
FISCAL IMPACT: The 2013 General Fund budget (citywide account) includes funding for these payments. A transfer equal to 25 percent (25%) of the payments will be transferred from the Special Income Tax Fund. The transfer amount of $1,374,767.94 has been factored into the current special income tax analysis and resultant capital capacity.
Title
To authorize and direct the City Auditor to transfer $5,499,071.77 within the General Fu...
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