Explanation
BACKGROUND: The City of Columbus entered into a Jobs Growth Incentive Agreement (Agreement) with Progressive Casualty Insurance Company, (Grantee) effective October 4, 2011. Columbus City Council approved the Agreement by Ordinance 0988-2011, passed July 11, 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 March 1, 2012 for a period of five (5) consecutive taxable years based on an investment of approximately $4.7 million in personal and real property, the relocation and retention of 75 permanent full-time positions which were to be new to the City of Columbus at 3200 Morse Road, Columbus, OH 43231.
In a letter from the Grantee received by the City dated February 20, 2013, the Grantee indicated that many of the jobs related to the project were associated with an additional entity, Progressive Northern Insurance Company, and were attributable to this project. They requested that the Agreement be amended to reflect the Grantee to be “Progressive Casualty Insurance Company and any affiliates thereof.” The determination was made that when the facility opened for business in February 2012 the employee mix was a combination of employees from Progressive Casualty Insurance Company and Progressive Northern Insurance Company. In electronic correspondence dated May 1, 2012 the Grantee requested to move forward with naming Progressive Northern Insurance Company as an additional party to the Agreement. As such, the need exists to amend the Agreement to add Progressive Northern Insurance Company as an additional Grantee to the Agreement.
Additionally there exists a need to amend the commencement date of the term of the financial incentive as defined in Section 2 of the Agreement from beginning on March 1, 2012 for a period of five (5) consecutive taxable years to a term beginning on January 1, 2012 for a period of five (...
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