Explanation
BACKGROUND: The City of Columbus entered into a Jobs Growth Incentive Agreement (hereinafter “Agreement”) with Oxford Consulting Group, Inc., (also referred to as the “Grantee”) effective August 24, 2012. Columbus City Council approved the Agreement by Ordinance 1534-2012, approved July 23, 2012, 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 January 1, 2013 for a period of two (2) consecutive years thereafter based on an investment of approximately $60,000 in leasehold improvements, new equipment and furniture & fixtures and the creation of 45 new permanent full-time positions at 1500 West Third Avenue, Columbus, OH 43212.
During the Jobs Growth Incentive annual reporting cycle for Report Year 2014 and through correspondence with the Grantee, the City became aware that the name of the Grantee had been changed from Oxford Consulting Group, Inc. to Lightwell Inc. effective May 8, 2014. As such, the need exists to amend the Agreement to replace Oxford Consulting Group, Inc. with Lightwell Inc. as the Grantee to the Agreement.
This legislation is requested to be considered as an emergency in order to replace Oxford Consulting Group, Inc. with Lightwell Inc. as the Grantee to the Agreement so that the Jobs Growth Incentive payment can be made during the 2015 payment cycle for Report Year 2014.
FISCAL IMPACT: No funding is required for this legislation.
Title
To authorize the Director of Development to amend the Jobs Growth Incentive Agreement to replace Oxford Consulting Group, Inc. with Lightwell Inc. as the Grantee to the Agreement; and to declare an emergency.
Body
WHEREAS, Columbus City Council approved a Jobs Growth Incentive Agreement (the “Agreement”) with Oxford Consulting Group, Inc. (also referred to as the “Grantee”) by Ordinance 1534-2012 on July 23, 2012; and
WHEREAS, the Agreement granted a...
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