Explanation
BACKGROUND: The purpose of this ordinance is to authorize the Director of the Department of Development to apply for $300,000 in grant assistance from the Roadwork Development (629) Account of the Ohio Development Services Agency and $250,000 in grant assistance from the Ohio Department of Transportation, contingent on State Controlling Board approval, for improvements to a public roadway near West Schrock Road (Parcel ID 610-291371) to benefit the expansion of operations of SEA, Ltd. (Scientific Expert Analysis, Ltd.).
This request for authorization is part and parcel of an incentive package to allow SEA, Ltd. to expand in Columbus. SEA, Ltd. will invest an estimated $9.4 million at the site with $9 million toward building construction and $400,000 in machinery, equipment, furniture and fixtures. A total of 96 existing full-time positions will be retained and 30 new full-time permanent positions will be created within three years.
In a letter dated June 13, 2013, the Ohio Development Services Agency and JobsOhio extended a total of $550,000 in public roadwork development grant assistance to the City of Columbus in support of the proposed investment by SEA, Ltd. The Director of the Department of Development responded to the Ohio Development Services Agency and JobsOhio on October 10, 2013 accepting the offer of assistance.
Total infrastructure costs to accommodate the construction of a new global corporate headquarters for SEA, Ltd. are estimated to be approximately $1.224 million and will be shared by the State of Ohio and SEA, Ltd.
This legislation is submitted as an emergency in order to meet the state roadwork grant application deadline.
FISCAL IMPACT: No funding is required for this legislation. There is no cost to apply for the state roadwork development grants. If successful, the City will receive a total of $550,000 to apply towards public roadway improvements near West Schrock Road.
Title
To authorize and direct the Director of the D...
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