Explanation
Background: The need exists to enter into an Enterprise Zone Agreement with Farber Specialty Vehicles, Inc. and its affiliate Farber Development I LLC, collectively known as Farber Specialty Vehicles, Inc. Ohio Enterprise Zone law (O.R.C. Section 5709.62) requires the City to enter into a Council-approved agreement with a participating company.
Farber Specialty Vehicles, Inc., located in Columbus, started over 25 years ago building custom mobile units using the latest in advanced technologies. The specialty vehicles the company builds include Bookmobiles, mobile mammography, dental and medical vehicles, laboratories, Bloodmobiles, computer labs and mobile classrooms, crime scene labs, bomb trucks, S.W.A.T. and Command Post vehicles.
The company is proposing to invest $2.7 million in an expansion project at its Americana Parkway location. The investment will include $2.5 million in real property improvements and $250,000 in personal property. The company will retain 95 permanent full-time jobs and create 20 new permanent full-time jobs at the project site.
Columbus Department of Development is proposing a 7-year, 65% Enterprise Zone incentive on real property improvements.
This legislation is submitted as an emergency in order to allow Farber Specialty Vehicles, Inc. to make a decision on the location of the proposed project as quickly as possible.
Fiscal Impact: No funding is required for this legislation.
Title
To authorize the Director of the Department of Development to enter into a 7 year/65% Enterprise Zone Agreement on real property improvements, in consideration of Farber Specialty Vehicles, Inc.'s proposed investment of $2.7 million, retention of 95 full-time permanent jobs and the creation of 20 permanent full-time jobs; and to declare an emergency.
Body
WHEREAS, the City has established the Southeast Enterprise Zone pursuant to Sections 5709.61 to 5709.632 of the Ohio Revised Code ("O.R.C.") wh...
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