Explanation
BACKGROUND: The 2007 Columbus Tax Incentive Review Council (TIRC) reviewed the Columbus Paperbox Enterprise Zone project on August 21, 2007, and recommended that the City should consider modifying the requirement for the retention of the part-time jobs by either eliminating the requirement or converting it to full-time equivalency. As the City does not regularly recognize part-time jobs to meet the terms of either job retention or creation, this legislation authorizes the Director of Development to amend the existing Columbus Paperbox Enterprise Zone Agreement (EZA) to eliminate the requirement for the retention of the part-time jobs.
Columbus City Council approved the EZA by Ord. No. 1372-02, adopted September 23, 2002. The project entailed the relocation of all of the business assets and employees of Columbus Paperbox from 344 West Town Street in Columbus, to a newly constructed facility of approximately 50,000 square feet in size at West Edge Business Park on Harmon Avenue, also in Columbus. West Edge Business Park is on the former site of Sullivant Gardens. The relocation was encouraged by the City, as the former West Town Street location is now part of COSI. The EZA granted a 75% real property tax abatement for a term of 10 years (2004-2013), a 75% personal property tax abatement for personal property acquired and installed prior to December 2005 on personal property investment of up to $4.4 million, new construction investment of $3 million, and the retention of 30 permanent full-time and 3 permanent part-time jobs.
At the time of the relocation from W. Town Street to the West Edge Business Park, the company had 30 full-time and 3 part-time employees and all of these employees were to be relocated to the new site. Reported retained full-time jobs year-end 2003 was 29 retained jobs, year-end 2004 was 27 retained jobs, and year-end 2005 was 26 retained jobs. At that time the 2006 TIRC recommended that in addition to continuing the ...
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