Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a Downtown Office Incentive Agreement with HealthPlan Data Solutions, Inc.
HealthPlan Data Solutions, Inc., headquartered in Columbus, Ohio, was established in 2010 by pharmacists, business executives, and software development professionals who saw a need for a more objective, fact-based approach to managing pharmacy benefit costs. They provide clients with a partner who will protect their interests and leverage data to advocate for them, ensuring their pharmacy benefit managers are honoring their contracts.
HealthPlan Data Solutions, Inc. intends to lease, equip, and occupy approximately 7,800 square-feet of office space at 444 N. Front Street, Suite 101 Columbus, Ohio 43215 (“Project Site”). The project will allow HealthPlan Data Solutions, Inc. to expand their headquarters operations.
HealthPlan Data Solutions, Inc. anticipates investing approximately $225,000 to build out and equip the Project Site. HealthPlan Data Solutions, Inc. will retain 31 employees with an annual payroll of $3,322,000 and expects to create approximately 30 net new full-time permanent positions with an associated new annual payroll of approximately $3,100,000.
HealthPlan Data Solutions, Inc. is requesting a Downtown Office Incentive from the City of Columbus to assist in the expansion of operations in Columbus.
FISCAL IMPACT: No funding is required for this legislation
Title
To authorize the Director of the Department of Development to enter into a Downtown Office Incentive Agreement with HealthPlan Data Solutions, Inc. 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 Downtown Office Incentive from HealthPlan Data Solutions, Inc.; and
WHEREAS, HealthPlan Data Solutions, Inc. lease, equip, and occupy approximately 7,800 square-feet of office space at 444 N. Front Street, Suite 101 Columbus, Ohio 43215; and
WHEREAS, HealthPlan Data Solutions, Inc. anticipates investing approximately $225,000 to build out and equip the Project Site. HealthPlan Data Solutions, Inc. will retain 31 employees with an annual payroll of $3,322,000 and expects to create approximately 30 net new full-time permanent positions with an associated new annual payroll of approximately $3,100,000; and
WHEREAS, it has become necessary in the usual daily operation of the Department of Development to authorize the Director to enter into a Downtown Office Incentive Agreement with HealthPlan Data Solutions, Inc.; NOW THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the Director of the Department of Development is hereby authorized to enter into a Downtown Office Incentive Agreement, pursuant to Columbus City Council Resolution 0088X-2007, with HealthPlan Data Solutions, Inc. for an annual cash payment equal to fifty percent (50%) of the amount of City withholding tax withheld on new employees for a term of up to five (5) consecutive years on the estimated job creation of 33 new full-time permanent positions to be located at 444 N. Front Street, Suite 101, Columbus, Ohio 43215.
SECTION 2. That, each year of the term of the agreement with HealthPlan Data Solutions, Inc. 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 must be signed by HealthPlan Data Solutions, Inc. within 90 days of passage of this ordinance, or this ordinance and the credit herein shall be null and void.
SECTION 4. That the Director of the Department of Development is hereby authorized to amend the Downtown Office Incentive Agreement with HealthPlan Data Solutions, Inc. for certain revisions to the agreement requested in writing by the company and or the City and deemed appropriate by the Director of Development with these revisions 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.