Explanation
BACKGROUND: The need exists to amend Ordinance No. 0338-2025 (the “ORDINANCE”), approved by Columbus City Council (“Council”) on March 10, 2025. The ORDINANCE authorized the Director of the Department of Development to enter into a City of Columbus Enterprise Zone Agreement (“AGREEMENT”) on behalf of the City with XPO LTL Properties LLC and XPO Logistics Freight, Inc. (collectively, the “ENTERPRISE”) for a tax abatement of seventy-five percent (75%) for a period of ten (10) consecutive years in consideration of the ENTERPRISE investing approximately $7,500,000.00 in real property improvements, the creation of thirty-five (35) net new full-time permanent positions with an estimated annual payroll of approximately $2,085,000.00 and the retention of sixty-five (65) full-time permanent positions with an estimated associated annual payroll of approximately $4,209,300.00 at 5400 Fisher Road, Columbus, Ohio 43228 Parcel No. 570-102664 (the “Project Site”).
Prior to executing the AGREEMENT, the 90-day period needed to execute the City of Columbus Enterprise Zone Agreement expired, and the ENTERPRISE is requesting the 90-day period be extended to execute the AGREEMENT.
The need now exists to amend the ORDINANCE. The ENTERPRISE is requesting the ORDINANCE be amended to revise the 90-day period needed to execute the AGREEMENT, to 90 days after passage from this ordinance. This will not impact on the scope of the project as authorized by Columbus City Council. All job retention, job creation, and investment commitments remain unchanged.
This legislation is presented as 30-legislation.
FISCAL IMPACT:
No funding is required for this legislation.
Title
To amend Ordinance No. 0338-2025, approved by Columbus City Council on March 10, 2025 for the purposes of revising the 90-day period needed to execute the City of Columbus Enterprise Zone Agreement, to 90 days after passage from this ordinance. ($0.00)
Body
WHEREAS, the need exists to amend Or...
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