Explanation
BACKGROUND: The need exists to enter into an Enterprise Zone Agreement with Amamata, LLC. The Ohio Enterprise Zone law O.R.C. Section 5709.62 (3) requires the City to enter into a Council-approved agreement between the City and participating companies.
Amamata, LLC is a healthcare entity that was founded in October 2009 by Dr. John A. Johnson (President and Chief Executive Officer), and his partner Mukesh Ranqwani. Dr. Johnson is a central Ohio psychiatrist who has worked in public, private and university mental-health systems for 25 years. He also is head of AccessOhio Mental Health Center of Excellence, a mental healthcare facility that is accessible to all people, including the economically disfavored.
Amamata, LLC is proposing to renovate a vacant commercial building consisting of approximately 51,000 square feet by investing $4.5 million in new construction, machinery, equipment and inventory. With the new construction, Amamata, LLC plans to increase the square footage by 9,000 making the total 60,000 square feet of medical office space. The company will create approximately 40 new full-time permanent positions within the City of Columbus over a three-year period following construction completion with an estimated annual payroll of $1.4 million.
The Department of Development recommends a 75%/10-year Enterprise Zone tax abatement on real property improvements.
The Gahanna Jefferson City School District has been advised of this project.
FISCAL IMPACT: No funding is required for this legislation.
Title
To authorize the Director of the Department of Development to enter into an Enterprise Zone Agreement with Amamata, LLC for a tax abatement of seventy-five percent (75%) for a period of ten (10) years on real property improvements in consideration of a proposed total investment of approximately $4.5 million.
Body
WHEREAS, City Council subsequently amended the Columbus Enterprise Zone by Ordinance Numbers 2722-85 in 198...
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