City of Columbus - File #: 1399-2004

• File #: 1399-2004
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 7/8/2004
• In control: Jobs and Economic Development Committee
• On agenda: 12/13/2004
• Final action: 12/15/2004
• Title: To authorize the Director of Development to enter into an agreement with Gideon Development Partners, LLC for a tax abatement of seventy-five percent (75%) for a period of ten (10) years in consideration of a proposed $6,235,000 investment in real property improvements and the creation of 3 (three) new jobs; and to declare an emergency.

Date	Ver.	Action By	Action	Result
12/15/2004	1	CITY CLERK	Attest
12/13/2004	1	Columbus City Council	Approved	Pass
12/13/2004	1	COUNCIL PRESIDENT	Signed
12/13/2004	1	MAYOR	Signed
11/24/2004	1	Dev Drafter	Sent to Clerk's Office for Council
7/16/2004	1	City Clerk's Office	Sent back for Clarification/Correction
7/9/2004	1	Dev Drafter	Sent for Approval
7/9/2004	1	DEVELOPMENT DIRECTOR	Reviewed and Approved
7/9/2004	1	Dev Drafter	Sent for Approval
7/9/2004	1	CITY ATTORNEY	Reviewed and Approved
7/9/2004	1	Dev Drafter	Sent to Clerk's Office for Council

Explanation

BACKGROUND: The need exists to enter into an Enterprise Zone Agreement with Gideon Development Partners, LLC. 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.

Gideon Development Partners, LLC plans to construct a 56,000 square foot facility to accommodate development and relocation. The project will include an investment of $6,235,000 and the creation of 3 (three) full-time jobs.

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 Core Central City projects.

The Columbus Public 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 agreement with Gideon Development Partners, LLC for a tax abatement of seventy-five percent (75%) for a period of ten (10) years in consideration of a proposed $6,235,000 investment in real property improvements and the creation of 3 (three) new jobs; 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

WHEREAS, the Ohio Development Department approved this designation under State of Ohio Enterprise Law, by letter dated June 12, 1985; and

WHEREAS, Gideon Development Partners, LLC plans to construct a 56,000 square foot facility to accommodate relocation and expansion; and

WHEREAS, the expansion will add approximately $6,235,000 in investment within the City; and

WHEREAS, the construction will create 3 new full time jobs: and

WHEREAS, an emergency exists in the usual daily operation of the Department of Development in that it is immediately necessary to enter into contract wi...