Explanation
BACKGROUND: The need exists to enter into an Enterprise Zone Agreement with Olde Towne East Main 1223, LLC and The Merchant Columbus LLC. The Ohio Enterprise Zone law O.R.C. Section 5709.62(C) requires the City to enter into a Council-approved agreement between the City and participating companies.
Headquartered in Galloway, Ohio, Olde Towne East Main 1223, LLC is a real estate holding company that is owned by Dustin and Danielle Rohrbach, a husband and wife team. The Merchant Columbus LLC is owned by Danielle Rohrbach and Melissa Dickson, a company that invests in historical facilities renovating them into creative conceptual office spaces. Both entities share a common owner, Danielle Rohrbach.
Olde Towne East Main 1223, LLC and The Merchant Columbus LLC are proposing to invest a total project cost of approximately $1,350,000, which includes $350,000 in acquisition cost and $1,000,000 in real property improvements to acquire, renovate and redevelop a 3-story vacant commercial office facility consisting of approximately 7,200 sq. ft. located (on the corner of E. Main St. and Wilson Ave.) at 1223-1227 E. Main Street Columbus, Ohio, 43205, parcel number 010-047669 (the “Project Site”). The Merchant Columbus LLC will be the tenant and employer of record, and enter into a long-term lease agreement with Olde Towne East Main 1223, LLC to expand and relocate its corporate headquarters (HQ) from Galloway, Ohio to the proposed Project Site. Additionally, the company will create 2 net new full-time permanent positions with an estimated annual payroll of approximately $83,200. The Merchant Columbus LLC corporate HQ will occupy approximately 1,000 square feet of the 7,200 sq. ft. building. Leasable shared co-working office space will complete the remaining usable square footage.
The Department of Development recommends 75%/10-year Enterprise Zone tax abatement on real property improvements.
The Columbus City School Board of Education has been advised...
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