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TO ADOPT THE RECOMMENDATION OF THE ADVISORY BOARD FOR THE OFFICE & INDUSTRIAL INCENTIVE PROGRAM; GRANTING APPROVAL FOR MNX GLOBAL LOGISTICS FOR A PERIOD OF THREE YEARS.
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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, 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, April 14, 2014, to review the incentives to MNX Global Logistics for a period of three (3) years, at a rate of 65% of the net municipal income tax withholding from their employees;
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF GAHANNA, COUNTY OF FRANKLIN, STATE OF OHIO:
Section 1. That this Council hereby acknowledges the recommendation for approval of the Incentive Advisory Board for MNX Global Logistics.
Section 2. That during the term of the Office & Industrial Incentive, and upon the written request of MNX Global Logistics, the company shall receive a payment in an amount of 65% 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.
Section 4. That the Office & Industrial Agreement between the City of Gahanna and MNX Global Logistics is attached to this Ordinance as EXHIBIT A and made a part hereof.
Section 5. That this Ordinance shall be in full force and effect after passage by Council and 30 days after signature of approval by the Mayor.