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File #: 1430-2021    Version: 1
Type: Ordinance Status: Passed
File created: 6/1/2021 In control: Economic Development Committee
On agenda: 7/19/2021 Final action: 7/22/2021
Title: To authorize and direct the City Auditor to transfer an amount not to exceed $10,665,059.28 within the General Fund; to authorize and direct the City Auditor to appropriate and transfer $2,666,264.82 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 $10,665,059.28 in accordance with the Jobs Growth Incentive (JGI) Program for the thirteen (13) 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 tax year 2020 (also calendar year and/or report year) in 2021; to authorize the expenditure not to exceed of $10,665,059.28 from the General Fund; and to declare an emergency. ($10,665,059.28)
Attachments: 1. ORD1430-2021 02 DAX RY2020 (2021) JGI Payment Work Sheet
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 2020 reporting (tax) year. Emergency action is requested so that the City can authorize payment by the end of the second quarter of this year in accordance with the Jobs Growth Incentive Program agreements.

For tax year 2020 (also calendar year and/or report year), the City of Columbus had a total of thirteen (13) 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 2020. The total dollar amount to be disbursed for these thirteen (13) 2020 JGI payments is $10,665,059.28. The thirteen (13) projects with the JGI payment subtotals are as follows: (1) $281,069.10 to CoverMyMeds LLC; (2) $1,195,495.59 to The Huntington National Bank; (3) $7,089.32 to Koorsen Fire & Security, Inc.; (4) $37,507.00 to Morgan Stanley Domestic Holdings, Inc. dba Morgan Stanley & Co. LLC; (5) $1,039,625.01 to Nationwide Children’s Hospital, Inc.; (6) $1,697,052.38 to Nationwide Mutual Insurance Company; (7) $7,305.45 to Northwest Bank; (8) $5,965,293.68 to The Ohio State University Wexner Medical Center; (9) $314,939.35 to OhioHealth Corporation; (10) $19,385.65 to Total System Services, Inc.; (11) $47,004.24 to U.S. Bank National Association; (12) $13,132.72 to Williams Lea Inc. and (13) $40,159.79 to Woda Cooper Companies, Inc.

Tax year 2020 (also calendar year and/or report year) is the first year in which Northwest Bank and Williams Lea Inc. have reported.

EMERGENCY JUSTIFICATION: Emergency action is requested so that the City can make payment as soon as possible and in accordance with the Jobs Growth Incentive Program agreements.

FISCAL IMPACT: The 2021 General Fund budget (citywide account) includes funding for these payments. A transfer equal to 25 percent (25%) of t...

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