Explanation
BACKGROUND: Resolution 0088X-2007, adopted June 4, 2007, supported the continuation of the Columbus Downtown Office Incentive Program (DOI) as one of the development tools needed to implement the Downtown Business Plan. This legislation authorizes the payments to employers who have met the requirements of their Downtown Office Incentive Program agreement. For tax year 2015, the City of Columbus had a total of twelve (12) active and reporting DOI projects for which employers have met the requirements of their DOI agreements and thus are eligible to receive their payments for 2015. The total dollar amount to be disbursed for these twelve (12) 2015 DOI payments is $785,498.66. The twelve (12) projects with the DOI payment subtotals are as follows: (1) $7,735.79 to Aver, Inc.; (2) $68,992.52 to CoverMyMeds LLC; (3) $42,896.71 to Dynamit Technologies, LLC; (4) $19,346.21 to Exel Inc.; (5) $411,873.71 to Hexion Inc.; (6) $94,264.81 to Lancaster Pollard & Co.; (7) $33,587.56 to Medical Mutual of Ohio; (8) $1,110.56 to Ohio Film Group LLC; (9) $20,744.87 to OhioHealth Star Corporation; (10) $20,304.58 to PEOPLETOMYSITE, LLC.; (11) $3,472.32 to Privit, Inc.; and (12) $61,169.02 to Turner Construction Company.
FISCAL IMPACT: The 2016 General Fund budget (citywide account) includes funding for these payments. A transfer equal to 25 percent (25%) of the payments will be transferred from the Special Income Tax Fund. The transfer amount of $196,374.67 has been factored into the current special income tax analysis and resultant capital capacity.
Title
To authorize and direct the City Auditor to transfer an amount not to exceed $785,498.66 within the General Fund; to authorize and direct the City Auditor to appropriate and transfer $196,374.67 in cash from the Special Income Tax Fund to the General Fund; to authorize and direct the City Auditor to make payments not to exceed a total of $785,498.66 in accordance with the Downtown Office Incentive (DOI) Program for the twelve (12) active DOI projects for which employers have met the requirements of their DOI agreements and thus are eligible to receive their payments for 2015; to authorize the expenditure not to exceed $785,498.66 from the General Fund; and to declare an emergency. ($785,498.66)
Body
WHEREAS, Resolution 0088X-2007, adopted June 4, 2007, supported the continuation of the Downtown Office Incentive Program as one of the development tools needed to implement the Downtown Business Plan; and
WHEREAS, it is necessary to authorize payments to employers who have met the requirements under their Downtown Office Incentive Program agreement; and
WHEREAS, the City of Columbus had a total of twelve (12) active and reporting DOI projects for which employers have met the requirements of their DOI agreements and thus are eligible to receive their payments for 2015 and the total dollar amount to be disbursed for these twelve (12) 2015 DOI payments is $785,498.66; and
WHEREAS, it is necessary at this time to authorize payment of $7,735.79 to Aver, Inc.; $68,992.52 to CoverMyMeds LLC; $42,896.71 to Dynamit Technologies, LLC; $19,346.21 to Exel Inc.; $411,873.71 to Hexion Inc.; $94,264.81 to Lancaster Pollard & Co.; $33,587.56 to Medical Mutual of Ohio; $1,110.56 to Ohio Film Group LLC; $20,744.87 to OhioHealth Star Corporation; $20,304.58 to PEOPLETOMYSITE, LLC.; $3,472.32 to Privit, Inc.; and $61,169.02 to Turner Construction Company; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development in that it is immediately necessary to make payments in accordance with the Downtown Office Incentive Program agreements, all for the preservation of the public health, property, safety; and welfare; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the transfer of $785,498.66 or so much thereof as may be needed, is hereby authorized between the Department of Finance & Management and the Department of Development within Fund 1000 General Fund per the account codes in the attachment to this ordinance.
SECTION 2. That from the unappropriated monies and from all monies estimated to come into said fund from any and all sources and unappropriated for any other purpose during the fiscal year ended December 31, 2016, the sum of $196,374.67 is appropriated in Fund 4300 Special Income Tax Fund in Object Class 10 Unallocated Balance per the accounting codes in the attachment to this ordinance.
SECTION 3. That the transfer of $196,374.67 in cash only or so much thereof as may be needed, is hereby authorized to Fund 1000 General Fund per the account codes in the attachment to this ordinance.
SECTION 4. That the City Auditor is hereby authorized and directed to make payments in accordance with the Downtown Office Incentive Program agreements as follows: $7,735.79 to Aver, Inc.; $68,992.52 to CoverMyMeds LLC; $42,896.71 to Dynamit Technologies, LLC; $19,346.21 to Exel Inc.; $411,873.71 to Hexion Inc.; $94,264.81 to Lancaster Pollard & Co.; $33,587.56 to Medical Mutual of Ohio; $1,110.56 to Ohio Film Group LLC; $20,744.87 to OhioHealth Star Corporation; $20,304.58 to PEOPLETOMYSITE, LLC.; $3,472.32 to Privit, Inc.; and $61,169.02 to Turner Construction Company.
SECTION 5. That for the purpose stated in Section 4, the expenditure of $785,498.66 or so much thereof as may be needed, is hereby authorized in Fund 1000 General Fund in Object Class 05 Other Expenditures per the accounting codes in the attachment to this ordinance.
SECTION 6. That for the reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is hereby 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 days after passage if the Mayor neither approves nor vetoes the same.