Explanation
BACKGROUND: The need exists to enter into an Enterprise Zone Agreement with Donley Concrete Cutting Company and 2455 Brice Road 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.
Established in 1997, Donley Concrete Cutting Company is a privately held company headquartered in Pickerington, Ohio that specializes in concrete sawing and drilling. The company services includes: concrete drilling, concrete cutting, flat sawing, core drilling, wall sawing, curb sawing, ground penetrating, radar, mini excavator rental, diamond grinding. The entity 2455 Brice Road LLC is a real estate holding company owned by David Donley, the President of Donley Concrete Cutting Company.
Donley Concrete Cutting Company and 2455 Brice Road LLC are proposing to invest a total capital expenditure of approximately $2,650,000, which includes $2,000,000 in real property improvements, $500,000 in acquisition cost, $100,000 in furniture and fixtures, and $50,000 in machinery and equipment to construct a new corporate headquarters (HQ). The proposed corporate HQ will consist of approximately 33,000 sq. ft. and be constructed on a vacant and dilapidated property located at 2455 and 2475 Brice Road, Columbus, Ohio, 43068, parcel numbers 010-017977, 010-019424 and 010-182944 (the “Project Site”), next to I-70 on the old Bob Evans and Chi-Chi’s restaurant retail site. The company intends to relocate its entire operation from Pickerington to Columbus. Donley Concrete Cutting Company will be the tenant and employer of record, and will enter into a long-term lease agreement with 2455 Brice Road LLC, the owner of the property. Additionally, the company will retain and relocate 52 full-time jobs with an annual payroll of approximately $2.7 million, which will be new to the City, and create 5 net new full-time permanent positions with an estimated annual payroll of approxi...
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