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TO ADOPT THE RECOMMENDATION OF THE ADVISORY BOARD FOR THE OFFICE & INDUSTRIAL INCENTIVE PROGRAM GRANTING APPROVAL FOR CYPRESS CARE SOLUTIONS; AND TO REPEAL ORD-0125-2010.
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WHEREAS, the Department of Development created the City of Gahanna Office & Industrial Incentive Program guidelines, which are a statement of policy designed to increase employment opportunities and encourage the establishment of new jobs; and
WHEREAS, the incentive is a yearly payment to the employer based on up to 3/4 of a percent of the paid income tax withholding from new job creation for a period of between one and five years; and
WHEREAS, Council has adopted the City of Gahanna Office & Industrial Incentive Program guidelines by ORD-0212-2002; and
WHEREAS,the Department of Development is requesting that ORD-0125-2010 for NationsHealth be repealed and that a new ordinance be passed to approve the incentive for Cypress Care Solutions, as the jobs will actually be created by Cypress Care Solutions, which is a subsidiary of NationsHealth, Inc., and the company will be located at 775 Taylor Road; and
WHEREAS, it is in the best interest of the City to approve this as quickly as possible so Cypress Care Solutions can begin operations as quickly as possible;
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF GAHANNA, STATE OF OHIO:
Section 1. That this Council hereby acknowledges the recommendation of the Incentive Advisory Board for Cypress Care Solutions.
Section 2. That during the term of the Office & Industrial Incentive, upon the written request of Cypress Care Solutions, the company shall receive a payment of 50% of the net municipal income tax collected from employees working for Cypress Care Solutions at 775 Taylor Road, in the City of Gahanna for five (5) years.
Section 3. That the incentive shall begin the first full year of occupancy after January 1, 2011.
Section 4. That the incentive shall coincide with the Ohio Department of Development job creation tax credit program.
Section 5. Prior to the end of the incentive period and for a period afterwards equal to the length of the incentive, if Cypress Care Solutions relinquishes its site and therefore is no longer located in Gahanna, then the City shall require the Company to repay 200% of all the incentive payments received from the City of Gahanna.
Section 6. That the incentive shall be in effect for a period of five (5) years, not to exceed 20 consecutive quarters, provided that all federal, state and local taxes are paid in full at the time of each requested reimbursement. If the taxes are not paid in full for the subject reimbursement year, Cypress Care Solutions forgoes the incentive for that year.
Section 7. That Cypress Care Solutions shall request reimbursement from the City by June of the second year and each year thereafter the incentive is in effect for the period of the approved term.
Section 8. That if Cypress Care Solutions declares bankruptcy, then the debt owed to the City per the conditions to the agreement outlined in the adopted Office and Industrial Incentive Guidelines shall be the obligation of any successor lessee and notice of said debt shall be placed as an addendum to the lease.
Section 9. That Cypress Care Solutions shall complete an annual incentive report provided by the Department of Development for each effective year.
Section 10. That the Advisory Board of the Office and Industrial Incentive Program reserves the right to terminate or revoke the incentive with thirty (30) days written notice to Cypress Care Solutions if the company fails to comply with the guidelines of the program.
Section 11. That the Office & Industrial Incentive Agreement completed by Cypress Care Solutions are attached to this ordinance as EXHIBIT A and made a part hereof.
Section 12. That ORD-0125-2010, passed July 6, 2010, is hereby repealed.
Section 13. That this ordinance shall be in full force and effect after passage by this Council and 30 days after date of signature approval by the Mayor.