Explanation
BACKGROUND: The 2010 Columbus Tax Incentive Review Council (TIRC) reviewed the Columbus Urban Growth Corporation Enterprise Zone project on August 19, 2010, and recommended that the City should consider dissolving the Enterprise Zone Agreement (EZA #023-00-07, hereinafter "Agreement") between the City and Columbus Urban Growth Corporation (hereinafter "Enterprise"). The City concurs with the recommendation of the TIRC.
Columbus City Council (Council) authorized the execution of the Agreement by Ordinance No. 1100-2000, adopted May 15, 2000. The Agreement was entered into effective June 15, 2000 and granted a 75%/10-Year abatement on real property improvements as part of the Four Corners Project with a commitment of an investment of approximately $2.5 million. Included in this investment was $450,000 for building acquisition, $1.3 million for new construction, $500,000 for improvements to existing structures, $160,000 for machinery and equipment, $100,000 for furniture and fixtures and the creation of 62 new permanent full-time and part-time jobs. The project was to be the construction and expansion of two facilities totaling approximately 20,000 square feet located on parcel 010-006690 at 1393 Cleveland Avenue and parcel 010-012487 at 1407 Cleveland Avenue within the Columbus Central Enterprise Zone. Council amended the original legislation (Ordinance No. 1100-2000) by Ordinance No. 0644-2001, adopted April 23, 2001. Council authorized the first amendment to the Agreement by Ordinance No. 1919-2004, adopted November 1, 2004 and authorized the second amendment to the Agreement by Ordinance No. 1781-2006, adopted October 16, 2006.
Enterprise has been certified by the Ohio Secretary of State, document No. 201004700189, to have been legally dissolved as of February 15, 2010. Ownership of parcel 010-006690 at 1393 Cleveland Avenue has been held by Milan Development LLC since February 12, 2009. Ownership of parcel 010-012487 at 1407 Cleveland ...
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