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TO ADOPT THE RECOMMENDATION OF THE ADVISORY BOARD FOR THE OFFICE & INDUSTRIAL INCENTIVE PROGRAM GRANTING APPROVAL FOR NETJETS SERVICES, INC.; AND TO DECLARE AN EMERGENCY.
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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
WHEREAS, the Incentive Advisory Board met on Monday, September 22, 2008 to review the application to grant incentives to NetJets Services, Inc., for a period of four (4) years, at a rate of .25% of the paid income tax withholding from their employees;
WHEREAS, it is imperative to move forward so that the incentive program can be in place as soon as possible, and all for the preservation of the public peace, health, safety and welfare;
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 NetJets Services, Inc.
Section 2. That NetJets Services, Inc., is approved for a payment of .25% of the net collected income tax for four (4) years.
Section 3. That the incentive shall begin the first full year of occupancy after January 1, 2009.
Section 4. That the incentive shall be in effect for a period of four (4) years, not to exceed 16 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, NetJets Services, Inc., f...
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