Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a Columbus Downtown Office Incentive with Ringside Search Partners and Ringside Temps, LLC, dba: Ringside Staffing, LLC.
Ringside Search and Staffing are professional search and consulting firms specializing in permanent, temporary, and project staffing. From everyday recruiting needs to complex business transformation projects, Ringside has continually assisted clients with innovations and thought leadership.
Founded in 2009 by Chris Fackler, President, Ringside assists its clients using a group of experienced search consultants, each of whom works closely with clients and candidates considering new positions. Ringside Search provides direct hire and full-time placements services for their clients. Ringside Staffing provides temporary and contract staffing for their clients.
Ringside Search Partners and Ringside Temps, LLC dba: Ringside Staffing, LLC are proposing to expand their corporate headquarters to a new area of downtown Columbus by investing approximately $500,000 in improvements, which includes inventory, furniture, and fixtures. The company will retain 14 full-time permanent positions with an associated annual payroll of approximately $603,000. In addition, the company will enter into a long-term lease agreement at 266 North Fourth Street in downtown Columbus and create 32 new full-time permanent positions with an annual payroll of approximately $1.56 million.
Ringside is requesting a 50 percent, five-year Downtown Office Incentive from the City of Columbus to assist in the expansion of its corporate headquarters.
FISCAL IMPACT: No funding is required for this legislation.
Title
To authorize the Director of the Department of Development to enter into a Columbus Downtown Office Incentive Agreement with Ringside Search Partners and Ringside Temps, LLC, dba: Ringside Staffing, LLC, as provided in Columbus City Council Resolution 0088X-2007, adopted June 4, 2007.
Body
WHEREAS, the City desires to increase employment opportunities and encourage establishment of new jobs in the City in order to improve the overall economic climate of the City and its citizens; and
WHEREAS, Resolution 0088X-2007, adopted June 4, 2007, authorized the Department of Development to establish the Columbus Downtown Office Incentive program as amended; and
WHEREAS, the Department of Development has received a completed application for the Columbus Downtown Office Incentive program from Ringside Search Partners and Ringside Temps, LLC, dba: Ringside Staffing, LLC; and
WHEREAS, Ringside Search Partners and Ringside Temps, LLC, dba: Ringside Staffing, LLC, are proposing to invest approximately $500,000 in leasehold improvements, which includes machinery, equipment, furniture and fixtures, to expand their corporate headquarters; and
WHEREAS, Ringside Search Partners and Ringside Temps, LLC, dba: Ringside Staffing, LLC, are proposing to expand their corporate headquarters to a new area of downtown Columbus by entering into a long-term lease agreement at 266 North Fourth Street in downtown Columbus and create 32 new full-time permanent positions with an annual payroll of approximately $1.56 million, generating approximately $38,875 annually in new City of Columbus income tax revenue; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. Columbus City Council authorizes the Director of Development to enter into a Columbus Downtown Office Incentive Agreement with Ringside Search Partners and Ringside Temps, LLC, dba: Ringside Staffing, LLC, pursuant to Columbus City Council Resolution 0088X-2007, for an annual cash payment equal to fifty percent (50%) of the amount of City withholding tax withheld on new employees for a term up to five (5) years on the estimated job creation of 32 full-time permanent positions located at 266 N. North Fourth Street, Columbus, Ohio 43215.
SECTION 2. Each year of the term of the agreement with Ringside Search Partners and Ringside Temps, LLC, dba: Ringside Staffing, LLC, that a payment is due, the City's obligation to pay the incentive is expressly contingent upon the passing of an ordinance appropriating and authorizing the expenditure of monies sufficient to make such payment and the certification of the City Auditor pursuant to Section 159 of the Columbus City Charter.
SECTION 3. That the City of Columbus Downtown Office Incentive Agreement is signed by Ringside Search Partners and Ringside Temps, LLC, dba: Ringside Staffing, LLC, within 90 days of passage of this ordinance, or this ordinance and the credit herein shall be null and void.
SECTION 4. The City Council hereby extends authority to the Director of the Department of Development to amend the Ringside Search Partners and Ringside Temps, LLC, dba: Ringside Staffing, LLC, and City of Columbus Downtown Office Incentive Agreement for certain modifications to the agreement requested in writing by the company and or the City and deemed appropriate by the Director of Development with these modifications being specifically limited to reductions in length of term, methods of calculating the incentive, or adding or deleting business entities associated with the employment commitments related to this incentive. All other requested amendments must be approved by City Council.
SECTION 5. That this ordinance shall take effect and be in force from and after the earliest period allowed by law.