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TO ADOPT THE RECOMMENDATION OF THE ADVISORY BOARD FOR THE OFFICE & INDUSTRIAL INCENTIVE PROGRAM GRANTING APPROVAL FOR SIEMENS AIRFIELD SOLUTIONS, INC.
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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 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; and
WHEREAS, the Incentive Advisory Board met on Tuesday, October 10, 2006 to review the applicant to grant incentives to Siemens Airfield Solutions, Inc. for a time period of three (3) years, not to exceed 12 consecutive quarters at a rate of .375% 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 Siemens Airfield Solutions, Inc.
Section 2. That Siemens Airfield Solutions, Inc., is approved for a payment of .375% of the net collected income tax for three (3) years.
Section 3. That 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. That the incentive shall coincide with the Ohio Department of Development job creation tax credit program.
Section 5. Prior to the end of the incentive period and for a period afterwards equal to the length of the incentive, if...
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