Title
TO ADOPT THE RECOMMENDATIONS OF THE ADVISORY BOARD FOR THE OFFICE & INDUSTRIAL INCENTIVE PROGRAM GRANTING APPROVAL FOR KAHIKI FOODS, INC.
Version
ils
Body
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 in areas outside of the Community Reinvestment Area Program as well as to stabilize and strengthen the Industrial Zone business base; 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;
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF GAHANNA, STATE OF OHIO:
Section 1. That this Council hereby acknowledges the recommendations of the Office and Industrial Incentive Program for Kahiki Foods, Inc.
Section 2. That Kahiki Foods, Inc. is approved for a payment of 3/4 of a percent of the collected income tax for five years.
Section 3. The incentive shall begin the first full year of occupancy with the occupancy date determined by issuance of a certificate of occupancy by the Building Department.
Section 4. The incentive shall coincide with the Ohio Department of Development job creation tax credit program.
Section 5. 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, Kahiki Foods, Inc. foregoes the incentive for that year.
Section 6. Kahiki Foods, Inc. shall request reimbursement from the City by June of the second year and each ye...
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