Explanation
BACKGROUND: Columbus City Council (“COUNCIL”), by Ordinance 1655-2025, passed July 14, 2025 authorized the City of Columbus (“CITY”) to enter into a Community Reinvestment Area Agreement (the “AGREEMENT”) with 1489 Rohr Holding LLC (the “ENTERPRISE”) for a real property tax abatement of seventy-five percent (75%) for a period of ten (15) consecutive years in consideration of a proposed investment of approximately $30,000,000.00 in real property improvements and the creation ten (10) full-time jobs with an estimated associated annual payroll of approximately $416,000.00 related to the construction of a new 300,000 square foot proactive industrial facility (the “PROJECT”) located at 1489 Rohr Rd. Columbus, OH 43137, parcel number 495-303782 within the City of Columbus Rickenbacker Community Reinvestment Area (the “PROJECT SITE”). The AGREEMENT was made and entered into effective August 26, 2025, with the abatement to begin no later than tax year 2027 nor extend beyond tax year 2041.
In a letter from Trident Capital Group on behalf of the ENTERPRISE dated August 28, 2025, received by the CITY and through ensuring correspondence, confirmed that the ENTERPRISE has entered into a new joint venture with Transwestern Investment Group and have transferred or intend to transfer the PROJECT to a new entity, TCG OCP TIG Owner I, LLC. Additionally, the ENTERPRISE confirmed that their prospective address has changed, whereas 1489 Rohr Rd. Columbus, OH 43137, parcel number 495-303782, is to be replaced with the new address at 1345 Rohr Rd. Columbus, OH 43137, parcel number 495-303782 as the PROJECT SITE. Due diligence has been undertaken by the CITY in that TCG OCP TIG Owner I, LLC has agreed to fully assume the terms and commitments of the ENTERPRISE pursuant to the AGREEMENT, has submitted an updated Economic Development Incentive Application and this application and all other pertinent information has been reviewed and vetted.
This legislation is to authorize...
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