Explanation
BACKGROUND: Resolution No. 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 2020 (also calendar year and/or report year), the City of Columbus had a total of eight (8) DOI agreements for which employers have met the requirements of their DOI agreements and thus are eligible to receive their benefit payments for calendar year 2020. The total dollar amount to be disbursed for these eight (8) 2020 DOI agreements is $369,863.92. The eight (8) agreements with the DOI payment subtotals are as follows: (1) $4,261.03 to Agility Partners, LLC; (2) $50,091.03 to BBI Logistics LLC; (3) $54,589.97 to Candid Care Co.; (4) $216,110.70 to CrossChx, Inc.; (5) $15,675.09 to Everstream Solutions, LLC; (6) $12,582.22 to Matic Insurance Services, Inc.; (7) $12,552.73 to ODW Logistics, LLC and (8) $4,001.15 to Ohio Film Group, LLC.
Tax year 2020 (also calendar year and/or report year) is the first year in which Everstream Solutions, LLC reported and was the final year for CrossChx, Inc. The benefit payments for Matic Insurance Services, Inc. and Ohio Film Group, LLC are for their late filings from RY2019 in 2020.
Emergency action is requested so that the City can make payment as soon as possible and in accordance with the Downtown Office Incentive Program agreements.
FISCAL IMPACT: The 2020 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 $92,465.98 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 no...
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