Explanation
BACKGROUND: The need exists to amend Ordinance 1751-2010 which was approved by Columbus City Council on December 6, 2010. The ordinance authorized the Director of Development to amend the Whirlpool Corporation, Kenco Logistic Services, LLC & DB RREEF US Properties LLC Community Reinvestment Area Agreement (the Agreement) by changing the job creation requirement and the new job payroll commitment as set forth in the Agreement, to allow the non-Whirlpool Corporation and non-Kenco Logistic Services, LLC jobs at the project site that were created as a result of the project to be counted towards the job creation goal of the Agreement and to change the listed owner in the Agreement from DB RREEF US Properties LLC to D/P Rickenbacker LLC. The project site identified in Ordinance 1751-2010 being 6241 Shook Road, Lockbourne, Ohio 43217 on parcel numbers 495-286103 and 495-287287.
The amendment to the Agreement as authorized by Ordinance 1751-2010 was prepared and submitted for signature to Crowe Horwath LLP, the annual reporting consultant for the project, on December 10, 2010 via Certified Mail. This mailing was received by Crowe Horwath LLC on December 20, 2010. The amendment to the agreement has yet to be returned with signature.
A letter received by the City via email on July 22, 2012 indicated that as of June 21, 2012, the ownership of the project site has changed from D/P Rickenbacker LLC to BRE/DP WH Columbus LLC. The letter requests that the Agreement be amended to reflect this change in ownership.
As the amendment to the Agreement as authorized by Ordinance 1751-2010 has yet to be executed and as ownership of the project site has changed prior to the execution of the amendment to the Agreement, an amendment to Ordinance 1751-2010 is now required to authorize the Director of Development to change the listed owner in the Agreement from DB RREEF US Properties LLC to BRE/DP WH Columbus LLC instead of to D/P Rickenbacker LLC.
This legislation...
Click here for full text