Explanation
BACKGROUND: The need exists to enter into an Enterprise Zone Agreement with CCS Realty Co. and Cloverleaf Cold Storage Co., hereinafter collectively known as "Cloverleaf". The Ohio Enterprise Zone law O.R.C. Section 5709.62 (3) requires the City to enter into a Council-approved agreement between the City and participating companies.
Cloverleaf provides refrigerated warehouse services to the food industry. Headquartered in Sioux City, Iowa, the company has ten locations in the United States including Ohio, Iowa, Minnesota and Missouri. Cloverleaf services include freezer, cooler and dry storage, import export services, rail service, enclosed and refrigerated truck and rail docks, internet accessible inventory and access, USDA approved warehouses, and U.S. customs container freight station.
Cloverleaf is proposing to expand its Columbus facility by building a cold warehouse addition on an existing facility located at 2350 New World Drive. The company is also considering its other Ohio locations in Napoleon and Fairfield for this expansion.
The Department of Development recommends a 75%/10 year tax abatement on real property improvements. The proposal is consistent with Columbus Tax Incentive Policy under Edge City projects.
Emergency action is requested of City Council in order to facilitate a project start date.
The Groveport Madison School District has been advised of this project.
FISCAL IMPACT: No funding is required for this legislation.
Title
To authorize the Director of Development to enter into an Enterprise Zone agreement with CCS Realty Co. and Cloverleaf Cold Storage Co. for a tax abatement of seventy-five percent (75%) for a period of ten (10) years; and to declare an emergency.
Body
WHEREAS, the Columbus City Council authorized the designation of the Enterprise Zone by legislation, Ordinance Number 779-85, dated April 22, 1985; and subsequently amended the Zone by Ordinance Nos. 2722-85 in 198...
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