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TO ADOPT THE RECOMMENDATION OF THE ADVISORY BOARD FOR THE OFFICE & INDUSTRIAL INCENTIVE PROGRAM GRANTING APPROVAL FOR KENNEDY COTTRELL RICHARDS, LLC.
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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 amended the guidelines by the adoption of ORD-0064-2011; and
WHEREAS, the Incentive Advisory Board met on Monday, March 21, 2011 to review the application to grant incentives to Kennedy Cottrell Richards, LLC for a period of three (3) years, at a rate of 40% of the paid income tax withholding from their employees;
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 Kennedy Cottrell Richards, LLC.
Section 2. That during the term of the Office & Industrial Incentive, upon the written request of Kennedy Cottrell Richards LLC, the company shall receive a payment of 40% of the net municipal income tax collected from employees working for Kennedy Cottrell Richards, LLC, at 186 North High Street, in the City of Gahanna for three (3) years.
Section 3. That the incentive shall begin in 2015 after the tax abatement for the property at 186 North High Street expires.
Section 4. That the incentive shall coincide with any job creation tax credit program awarded by the Ohio Department of Development.
Section 5. Prior to the end of the incentive period and for a period afterwards...
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