Explanation
BACKGROUND: The Director of the Department of Development is requesting authorization to enter into an Enterprise Zone Agreement on behalf of the City with Jim Pattison Developments (U.S.) Inc. (the “Enterprise”). The Ohio Enterprise Zone law Section 5709.62(C) of the Ohio Revised Code authorizes the City to enter into a Council-approved tax abatement agreements between the City and qualifying companies.
Established in 1961, The Jim Pattison Group is a diversified holding company that is operated primarily in the United States and Canada. Jim Pattison Developments (a since independent corporation) is headquartered in Vancouver, BC and officially established in 2006. Shortly after, they quickly entered into a period of rapid development and began with the opening of several grocery anchored shopping centers. By 2014, Jim Pattison Developments’ income portfolio had grown to over 10 million square feet. In addition, in 2021 Jim Pattison Developments had expanded their portfolio by adding eight grocery anchored shopping centers in the United States. With over 19 million square feet of income producing properties to date, Jim Pattison Developments has grown to having a portfolio of over 300 properties across North America.
Jim Pattison Developments (U.S.) Inc. is proposing to invest a total project cost of approximately $16,300,000.00 in real property improvements to redevelop 5.71 acres of vacant land. The new construction will consist of a new 76,500 square foot speculative industrial warehouse with an associated office space located at 900-956 Distribution Dr. Columbus, OH 43228 (the “Project Site”), parcel number 010-333326. Additionally, Jim Pattison Developments (U.S.) Inc. proposes to create fifteen (15) net new full-time permanent positions with an estimated annual payroll of approximately $624,000.00 (“New Employees”) at the proposed Project Site.
The Director of the Department of Development is recommending that Council approve a 75%/10-yea...
Click here for full text