Title
SUPPLEMENTAL APPROPRIATION - Tax Incentives, Development Tax Rebates
Drafter
dj/ils
Body
WHEREAS, in accordance with the Office & Industrial Incentive Agreement approved by ORD-0047-2012, JPMorgan Chase Bank has submitted documentation of creating 876 jobs in Gahanna during 2012 at their Techcenter Drive location; and
WHEREAS, this is an additional 376 jobs created over and above the 500 jobs they originally committed to creating in Gahanna; and
WHEREAS, funds appropriated for rebate to JPMorgan Chase for this year are not sufficient to cover the rebate cost;
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF GAHANNA, STATE OF OHIO:
Section 1. That funding in the amount of ONE HUNDRED TWENTY THREE THOUSAND NINE HUNDRED TEN DOLLARS ($123,910) is hereby supplementally appropriated from the unencumbered, unappropriated balance of the General Fund to Account No. 101.352.5491, Tax Incentives, Development Tax Rebates.
Section 2. That ORD-0001-2013, passed January 2, 2013, is hereby amended to reflect this supplemental appropriation.
Section 3. That this ordinance shall be in full force and effect after passage by this Council and on date of signature approval by the Mayor.