Explanation
BACKGROUND: Community Reinvestment Areas (CRAs) have been designated by Columbus City Council ("Council") under the general guidelines of Ordinance 1698-78. Such areas allow for the granting of real property tax incentives to encourage industrial, commercial, and residential growth.
Columbus City Council by Resolution Number 0090X-2007, as approved on June 11, 2007 and certified by the State of Ohio on July 14, 2007, created the Rickenbacker Community Reinvestment Area (the "Rickenbacker CRA"), which Council subsequently amended by Resolution Number 03I8X-2011 on December 5, 2011 and certified by the State of Ohio on January 23, 2012, providing for tax exemptions for improvements to real property up to one hundred percent (100%) not exceeding fifteen (15) years for the new construction of non-retail, non-hotel, non-residential business or industrial structures as described in Section 3735.67 of the Ohio Revised Code.
Beginning in the early 1960’s, Morris Dach began buying and selling used restaurant equipment out of his garage in the hopes of finding a cost-efficient way to help other restauranteurs start and expand their businesses. Then in 1966, Morris officially opened up an equipment warehouse store in Columbus, Ohio which offered food service equipment and supplies directly to operators throughout the area. This quickly became successful and led to the development of various trusted relationships with leading manufacturers in the industry which only continued to aid the business. Since then, the Morris family still continues to run and expand the business both locally and nationally and has become one of the largest restaurant equipment warehouse companies in the country.
Dach Family Limited Partnership is proposing to invest a total project cost of approximately $8.0 million in real property improvements to expand their existing distribution facility of 171,000 square feet by another 109,000 square feet (totaling approximately 280,000 squar...
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