Explanation
BACKGROUND: This legislation authorizes the payments to employers who have met the requirements of their Jobs Growth Incentive Program (JGI) agreement and are eligible for payment for the 2016 reporting (tax) year. Emergency action is requested as it was the intention of the City to make payment by the end of the second quarter of this year in accordance with the Jobs Growth Incentive Program agreements.
FISCAL IMPACT: For tax year 2016 (also calendar year), the City of Columbus had a total of twenty-six (26) active and reporting JGI projects for which employers have met the requirements of their JGI agreements and thus are eligible to receive their payments for calendar year 2016. One (1) of these projects, Jeni’s Splendid Ice Creams, LLC, is addressed via this legislation; the other twenty-five (25) were addressed via separate legislation (Ordinance #1732-2017). The total dollar amount to be disbursed for the Jeni’s Splendid Ice Creams, LLC JGI payment is $2,305.95.
The 2017 General Fund budget (citywide account) includes funding for this payment. A transfer equal to 25 percent (25%) of the payments will be transferred from the Special Income Tax Fund. The transfer amount of $576.49 has been factored into the current special income tax analysis and resultant capital capacity.
Title
To authorize and direct the City Auditor to make payments not to exceed a total of $2,305.95 in accordance with the Jobs Growth Incentive (JGI) Program to Jeni’s Splendid Ice Creams, LLC; to authorize and direct the City Auditor to transfer an amount not to exceed $2,305.95 within the general fund; to authorize and direct the City Auditor to appropriate and transfer $576.49 in cash from the Special Income Tax Fund to the general fund; to authorize the expenditure not to exceed of $2,305.95 from the general fund; and to declare an emergency. ($2,305.95)
Body
WHEREAS, the Columbus Jobs Growth Incentive Program is one of the development tools utilized by the City of Columbus to encourage new job creation; and
WHEREAS, it is necessary to authorize payments to employers who have met the requirements under their Jobs Growth Incentive Program agreement; and
WHEREAS, the City of Columbus had a total of twenty-six (26) active and reporting JGI projects for which employers have met the requirements of their JGI agreements and thus are eligible to receive their payments for calendar year 2016 in 2017; and
WHEREAS, one (1) of these projects, Jeni’s Splendid Ice Creams, LLC, is addressed via this legislation (the twenty-five (25) other projects were addressed via separate legislation, Ordinance #1732-2017) and the total dollar amount to be disbursed for Jeni’s Splendid Ice Creams, LLC JGI payment is $2,305.95; and
WHEREAS, it is necessary at this time to authorize payment of $2,305.95 to Jeni’s Splendid Ice Creams, LLC; 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 Jobs Growth Incentive Program agreements; now, therefore,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the transfer of $2,305.95 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 ending December 31, 2017, the sum of $576.49 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 $576.49 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 payment when initiated by the Director of Development in accordance with the Jeni’s Splendid Ice Creams, LLC Jobs Growth Incentive agreement in the amount of $2,305.95.
SECTION 5. That for the purpose stated in Section 4, the expenditure of $2,305.95 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 the funds necessary to carry out the purpose of this ordinance are hereby deemed appropriated, and the City Auditor shall establish such accounting codes as necessary.
SECTION 7. 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.