Explanation
BACKGROUND: The need exists to amend Ordinance 1750-2013, which was approved by Columbus City Council on July 22, 2013. The ordinance authorized the Director of the Department of Development to enter into a Downtown Office Incentive Agreement of fifty percent (50%) for a period of five (5) years with Pillar Technology Group, Inc. Prior to the execution of the agreement, it was discovered that the company name was inadvertently misidentified in the legislation. An amendment is now required to change the grantee's name from Pillar Technology Group, Inc. to Pillar Technology, LLC.
This legislation is requested to be considered as an emergency in order to allow Pillar Technology, LLC to begin investing and creating jobs as quickly as possible.
FISCAL IMPACT: No funding is required for this legislation.
Title
To amend Ordinance 1750-2013, passed by Columbus City Council on July 22, 2013, for the purpose of changing the name of the Grantee to a Columbus Downtown Office Incentive Agreement from Pillar Technology Group, Inc. to Pillar Technology, LLC; and to declare an emergency. (REPEALED BY ORD. 2581-2013 PASSED 11/11/2013)
Body
WHEREAS, the need exists to amend Ordinance 1750-2013, which was approved by Columbus City Council on July 22, 2013; and
WHEREAS, the ordinance authorized the Director of the Department of Development to enter into a Downtown Office Incentive Agreement of fifty percent (50%) for a period of five (5) years with Pillar Technology Group, Inc.; and
WHEREAS, prior to execution of the agreement, it was discovered that the company was inadvertently misidentified in the legislation and an amendment is now required to change the Grantee's name from Pillar Technology Group, Inc. to Pillar Technology, LLC; and
WHEREAS, an emergency exists in the usual daily operation of the Columbus Department of Development in that it is immediately necessary to amend Ordinance 1750-2013 to change the Grantee's name from Pillar Technology Group, Inc. to Pillar Technology, LLC in order to allow Pillar Technology, LLC to begin investing and creating jobs as quickly as possible, thereby preserving the public, health, peace, property and safety; NOW THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That Ordinance 1750-2013 is hereby amended to change the name of the Grantee to a Columbus Downtown Office Incentive Agreement from Pillar Technology Group, Inc. to Pillar Technology, LLC.
Section 2. That the City of Columbus Downtown Office Incentive Agreement is signed by Pillar Technology Group, LLC within 90 days of passage of this ordinance, or this ordinance and the credit herein shall be null and void.
Section 3. For the reasons stated in the preamble hereto, which is made a part hereof, this Ordinance is declared to be an emergency measure and shall take effect and be in force from and after its passage and approval by the Mayor, or ten (10) days after passage if the Mayor neither approves nor vetoes this Ordinance.