102-03 Ordinance RECORD OF ORDINANCES
Dayton Legal Blank, Inc. Form No. 30043
Ordinance No. 102-03 Passed . 20
AN ORDINANCE APPROVING A TAX CREDIT
AND ECONOMIC DEVELOPMENT AGREEMENT
WITH SIGNATURE, INC. AND AUTHORIZING,
CONFIRMING AND RATIFYING THE
EXECUTION OF THE AGREEMENT.
WHEREAS, Signature, Inc. (the "Company") is an employer located in the City of
Dublin, Ohio (the "City") at 5115 Parkcenter Avenue (the "Property"), and based on
inducements and incentives offered by the City in an Economic Development Agreement
(the "Agreement"), the Company is embarking upon an expansion of operations at their
existing facility; and
WHEREAS, the City, by provision of the incentives provided in the Agreement, desired
and intended to induce the Company to pursue expansion of operations for the purpose
of creating jobs and employment opportunities and to improve the economic welfare of
the people of the State of Ohio and the City as authorized in Article VIII, Section 13 of
the Ohio Constitution; and
WHEREAS, p ursuant t o Section 122.17 of the Ohio Revised Code (the "ORC"), the
State of Ohio (the "State") established the Ohio Tax Credit Authority (the "Authority")
authorized to execute agreements with taxpayers of the state of Ohio for the purpose of
granting these taxpayers job creation tax credits against the taxpayers' State corporate
franchise or State income tax, which tax credits are provided to create new jobs in the
State; and
WHEREAS, pursuant to Section 122.17 ORC, on January 27, 2003, the Authority
granted the Company's request for a Jobs Creation Tax Credit; and
WHEREAS, pursuant to Section 718.08 ORC, a municipal corporation is authorized to
grant local income tax credits to taxpayers which have received a Jobs Creation T ax
Credit from the State; and
WHEREAS, the granting of the tax credits by the City for the proposed expansion by
the Company will create jobs and increase opportunities for employment and strengthen
the economy of the City; and
WHEREAS, receiving these tax credits from the State and the City is a critical factor in
the Company's decision to go forward with the project; and
NOW, THEREFORE, BE IT ORDAINED by the City of Dublin, Franklin, Union and
Delaware Counties, Ohio, of the elected members concurring:
Section 1. The City hereby finds and determines that it is necessary and appropriate
and in the best interests of the City to provide certain assistance to the Company for the
purpose of creating jobs a nd e mployment o pportunities a nd t o i mprove t he e conomic
welfare of the people of the State of Ohio and the City as authorized in Article VIII,
Section 13 of the Ohio Constitution.
Section 2. To provide the assistance and thereby induce the Company to expand
their operations located at the Property, the City Manager and the Director of Finance,
for and in the name and on behalf of the City, shall execute, acknowledge and deliver the
Agreement by and between the City and the Company in substantially the form thereof
on file with the Clerk of Council. That Agreement is approved with changes therein not
inconsistent with this ordinance and not substantially adverse to the City and which are
permitted by law, and shall be approved by the City Manager and the Director of
Finance; provided, that the approval of those changes by such officers, and their
RECORD OF ORDINANCES
Dayton Legal Blank,lnc. Form No. 30043
Ordinance No. 1(l~.-Q~ Passed Pa~a~
character as not being substantially adverse to the City, shall be evidenced conclusively
by their execution of those instruments.
Section 3. The City Manager and the Director of Finance shall execute, deliver and,
if applicable, file, for and in the name and on behalf of the City, any other materials,
documents or certifications, which are necessary or appropriate to consummate the
transactions, contemplated in this ordinance and the Agreement.
Section 4. This Council finds and determines that all formal actions of this Council
concerning or relating to the passage of this ordinance were taken in an open meeting of
this Council and that all deliberations of this Council that resulted in those formal
actions were in meetings open to the public in compliance with the law.
Section 5. This ordinance shall take effect in accordance with Section 4.04 of the
City Charter.
Signed:
Mayor - esiding Officer
Attest:
v
Clerk of Council
Passed: S-e Dtur,b ~ 5 , 2003
Effective: QC~O,I
~Y ~.~J , 2003
I
I
I hereby certify that copies of thin
Ordinance/Resolution were posted in the
City of Dublin in accordance with Section
731.25 of the Ohio Revised Code.
i
puty Clerk of Council, Dublin, Ohio
ECONOMIC DEVELOPMENT AGREEMENT
AGREEMENT
BETWEEN
THE CITY OF DUBLIN
AND
SIGNATURE, INC.
September, 2003
ECONOMIC DEVELOPMENT AGREEMENT
This Agreement is entered into on , 2003, between the City
of Dublin (the "City") and Signature, Inc. (the "Company") for the purpose of assisting in the
Company's future expansion of its research and development facility located at 5115
Parkcenter Avenue, Dublin, Ohio.
ARTICLE I. BACKGROUND
The Company was established in 1986 and currently employs over 200 people throughout the United
States and Canada. Headquartered in Dublin since 1990, the Company employs approximately 120 full time
equivalent positions. As the largest and most comprehensive sales and service training company for the
hospitality industry in the United States and Canada the Company develops custom programs designed to
enhance the skills sets of each client's employees.
The Company plans to create an additiona141 jobs over the next 3 years beginning 2004 and ending
2006.
The City desires to enumerate specific cooperative efforts, which will be undertaken to assist the
Company in the location of its research and development facility. This effort is being made in recognition
that the creation of these new jobs will provide economic benefits to the City and will further add to the
quality of this community.
ARTICLE II. AGREEMENT
1. Municipal Corporate Income Tax Credit. The Cityagrees to assist the Company in its application
for Job Creation Tax Credit from the State. If the Company obtains a Job Creation Tax Credit from the State
for the establishment of its Dublin office, the City will commit to granting a 50% credit of new City income
tax revenues generated by new jobs resulting from the expansion, towards up to 50% of the Company's
municipal corporate income tax obligation, for a five (5) year period, commencing January 1, 2004 through
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December 3 1, 2008. The tax credit shall under no circumstances exceed 50% of the Company's municipal
corporate income tax liability.
2. Coordination. To allow for the establishment of this facility in a timely and cost-effective manner,
the City will assign its Director of Economic Development to work with the Company to assist in obtaining
approval for the Jobs Creation Tax Credit through the Ohio Tax Credit Authority.
ARTICLE III. INTENTION OF COMPANY
It is the Company's intent to carry out the establishment of operations as contemplated by and set
forth herein this Agreement.
ARTICLE IV. EXPEDITIOUS ACTION
The City and the Company recognize that the creation of additional jobs is a matter of highest
priority, and both parties will use their best efforts to proceed as expeditiously as possible in carrying out
their responsibilities hereunder.
ARTICLE V. AUTHORIZATION
This Agreement shall become effective when fully executed by both parties. The City Manager will
sign on behalf of the City following adoption of an authorizing ordinance by Dublin City Council.
(CI~T-Y OF DUBLIN
City Manager
By:
Director of Finance
SIGNATURE, INC.
By:
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