Explanation
BACKGROUND: Columbus City Council, by Ordinance 1883-2012, passed September 4, 2012, authorized the City of Columbus to enter into an Enterprise Zone Agreement (Agreement) with Pizzuti Short North Office LLC (Enterprise) for a tax abatement of seventy-five percent (75%) for a period of ten (10) years in consideration of $11.6 million in real property improvements and the creation of 217 new full-time permanent jobs with an associated payroll of $13,300,000 related to the construction of a speculative 60,000 square foot facility housing 55,000 square feet of Class A office space and 5,000 square feet of retail space on parcel number 010-002258 on North High Street in Columbus, Ohio and within the City of Columbus Enterprise Zone.
The need exists to amend the Ordinance 1883-2012 to (1) change the name of the Enterprise from Pizzuti Short North Office LLC to Pizzuti Short North LLC; (2) to add a public parking garage consisting of approximately 313 spaces with an associated additional $9,000,000 of investment to the scope of the project; to (3) change the location of the project from being located on parcel number 010-002258 on North High Street to being located on all of parcel number 010-002258 and all or part of parcel number 010-052208 and the portion of Wall Street between Russell Street and Millay Alley, as that latter property is combined and/or split to form the parcel on which the garage will be constructed and to (4) extend the 90 day period to execute the agreement to 90 days after the passage of this ordinance.
Development of the Pizzuti Short North LLC project began over four years ago with the vision of bringing a boutique hotel experience to the Columbus region. Over the course of the project’s development, additional property became available adjacent to the original project site. This land was acquired and the site design refocused to install a one-of-a-kind mixed-use development in the district.
As part of the design, Pizzuti Short N...
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