Explanation
BACKGROUND: The need exists to enter into an Enterprise Zone Agreement with Cloverleaf Cold Storage Co., LLC and CCS Realty Property Owner LLC. The Ohio Enterprise Zone law (Section 5709.62(C) of the Ohio Revised Code) requires the City to enter into Council-approved agreements between the City and participating companies.
CCS Realty Property Owner LLC, the property owner, and Cloverleaf Cold Storage Co., LLC, the employer of record (jointly, “Cloverleaf”), is one of the county’s leading cold storage firms based in Sioux City, IA. Family-operated since 1952, Cloverleaf purchased the project site in 2008 and proceeded to build substantial additions to the existing freezer and loading docks. The facility is currently 219,079 square feet, serving as a piece of critical infrastructure for agriculture and agricultural processing. The Columbus location is export-capable, and serves clients in the Heartland Corridor.
Cloverleaf Cold Storage Co., LLC and CCS Realty Property Owner LLC jointly propose to invest the total project cost of approximately $4,200,000 in construction and real property improvements, an expansion of their cold storage facility consisting of approximately 46,458 sq. ft. +/- at 2350 New World Drive, Columbus Ohio 43207 (Project Site). Cloverleaf Cold Storage Co., LLC will be the employer of record, and enter into a lease agreement with the affiliated CCS Realty Property Owner LLC to expand operations at the project site. Additionally, Cloverleaf Cold Storage Co., LLC will retain 31 full-time employees with an annual payroll of approximately $1,210,143 and create 5 new full-time permanent positions with an estimated annual payroll of approximately $189,798.
The Department of Development recommends an Enterprise Zone tax abatement of sixty-five percent (65%) for a period of ten (10) consecutive years on real property improvements for the purpose of building a new corporate headquarters of approximately 46,458 sq. ft. +/- at 2350 Ne...
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