Title
TO ADOPT THE RECOMMENDATION OF THE ADVISORY BOARD FOR THE OFFICE & INDUSTRIAL INCENTIVE PROGRAM GRANTING APPROVAL FOR PEDIATRIC & ADOLESCENT PRACTITIONERS, INC., (PAP) FOR A PERIOD OF THREE YEARS.
Drafter
dj
Body
WHEREAS, the Department of Planning & 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 retention of existing and establishment of new jobs; and
WHEREAS, the incentive is a yearly payment to the employer of up to 50 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 19, 2012, to review the application to grant incentives to PAP, Inc. for a period of three (3) years, at a rate of 15% of the net municipal 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 for approval of the Incentive Advisory Board for Pediatric & Adolescent Practitioners, Inc.
Section 2. That during the term of the Office & Industrial Incentive, upon the written request of PAP, Inc. the company shall receive a payment of a 15% of the company's net municipal income tax in the City of Gahanna for three (3) years as outlined in the agreement.
Section 3. That the incentive shall be in effect for a period of three (3) years, not to exceed 12 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, PAP, Inc., forgoes the incentive for ...
Click here for full text