Explanation
BACKGROUND: Columbus City Council (“COUNCIL”), by Ordinance No. 2504-2019, passed October 14, 2019, authorized the City of Columbus (“CITY”) to enter into an Enterprise Zone Agreement (the “AGREEMENT”) with RM Biltrite LLC and Watkins Road LLC (collectively, and hereinafter referred to as the “ENTERPRISE”) for a tax abatement of seventy-five percent (75%) for a period of ten (10) consecutive years in consideration of the company’s total proposed investment of approximately $11,470,500.00, which included approximately $4,705,500.00 in acquisition cost,$1,650,000.00 in real property improvements, $5,000,000.00 in machinery and equipment, $100,000.00 in furniture and fixtures, and $15,000.00 in stand-alone computers to acquire, renovate, and redevelop a vacant industrial warehouse distribution facility consisting of approximately 177,566 square feet at 1635 Watkins Road, Columbus, Ohio 43207, parcel number: 010-001860 (the “PROJECT SITE”). The ENTERPRISE committed to create forty (40) net new full-time permanent positions with an estimated annual payroll of approximately $1,677,740.00 and retain one (1) full-time employee with an annual payroll of approximately $85,000.00 to preserve or create employment opportunities within the Columbus Enterprise Zone, (hereinafter referred to as the “PROJECT”). The AGREEMENT was made and entered into effective January 30, 2020 (Agreement No. 023-20-02).
Paragraph fourteen within Section 6 (Program Compliance) of the AGREEMENT states that the “AGREEMENT is not transferable or assignable without the express, written, approval of the CITY” and paragraph fifteen of that same section states that “any requested amendment…to any of the terms of the AGREEMENT…shall require the payment to the CITY by the ENTERPRISE of an AMENDMENT FEE in the amount of five-hundred dollars ($500.00).”
In a letter received by the CITY from the QRRI, Inc. dated August 30, 2023, and through ensuing correspondence, QRRI, Inc. confirmed they are...
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