Explanation
BACKGROUND: The 2011 Columbus Tax Incentive Review Council (TIRC) reviewed the WB Sports of Columbus, LLC Enterprise Zone project on August 18, 2011, and recommended that the City dissolve the Enterprise Zone Agreement (EZA #023-09-02, hereinafter "Agreement") between the City and WB Sports of Columbus, LLC (hereinafter "Enterprise"). The City concurs with the recommendation of the TIRC.
Columbus City Council approved the Agreement by Ordinance 0872-2009, adopted July 6, 2009. The Agreement was entered into effective September 15, 2009 and granted a 75%/10-Year abatement on real property improvements with a commitment of $2,800,000 in real property investment and the creation of 33 new permanent full-time jobs within three years following the execution of the agreement with a payroll of $5,600,000 related to the construction of a new medical office facility of approximately 15,000 square feet on parcel number 610-213822 located at 8068 North High Street within the Columbus North Enterprise Zone (Zone #393 - Note: The Ohio Department of Development miscoded the zone number as "023" (City of Columbus Enterprise Zone) instead of "393"). The project was expected to begin September 2009 and all real property improvements were expected to be completed by December 31, 2010. Twelve (12) of the new full-time jobs were to be created by the end of 2011 and, twenty-one (21) more by year end 2012, for a total of thirty-three (33). No real property tax exemption was to commence after 2011 nor extend beyond 2020.
As of the TIRC review on August 18, 2011, the City reported that the real estate improvement investment time frame as set forth in the Agreement expired at the end of 2010, that no such investment has been undertaken, nor does Enterprise have any immediate plan to do so. Additionally, it was reported to the TIRC that as of the date of the TIRC, Enterprise was tax delinquent on their real property taxes in the amount of $89,069.48. No further rep...
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