Explanation
BACKGROUND: The need exists to amend Ordinance No. 1503-2021 (the “Second Ordinance”), approved by Columbus City Council (“Council”) on June 21, 2021. The Second Ordinance authorized the Director of the Department of Development to amend and restate the City of Columbus Jobs Incentive Agreement (“JGI AGREEMENT”) with Northwest Bank. An amendment is now required to revise the 90-day window needed to execute the First Amendment to the JGI AGREEMENT and to add 3 Easton Oval, Columbus, Ohio 43219 as an additional site location.
Council, by Ordinance No. 0422-2020 (the “Ordinance”), approved on March 2, 2020, authorized the Director of the Department of Development of the City of Columbus (“CITY”) to enter into the JGI AGREEMENT with Northwest Bank (the “GRANTEE”).
Additionally, the CITY entered into a Downtown Office Incentive Agreement (“DOI AGREEMENT”) with the GRANTEE effective June 30, 2020. Council approved the DOI AGREEMENT by Ordinance No. 0443-2020, adopted March 1, 2020.
Per an offer letter from the CITY dated October 29, 2020 and an acceptance letter to the CITY from the GRANTEE dated January 7, 2021 and through additional correspondence, the GRANTEE indicated they planned to expand their original commitment by moving their full headquarters operations from Warren, Pennsylvania to Columbus, dissolving the DOI AGREEMENT and relocating, expanding and consolidating all operations to its Easton location.
The DOI AGREEMENT was dissolved by Ordinance No. 1502-2021, approved by Council on June 14, 2021.
Prior to executing the First Amendment to the JGI AGREEMENT, the GRANTEE notified the CITY that the GRANTEE’s corporate headquarters (HQ) is located at a different address than its fulfillment center. The GRANTEE’s corporate HQ is located at 3 Easton Oval, Columbus, Ohio 43219, which is not part of the current JGI AGREEMENT’s Project Site; therefore, any job growth at this particular location would not qualify to receive any tax savings be...
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