Explanation
BACKGROUND: This legislation authorizes the Director of the Department of Development to amend the City's Enterprise Zone Agreement (EZA) with Mohawk Carpet Distribution LP. City Council approved the EZA on November 3, 2003 by Ordinance No. 2366-2003. City Council approved a tax abatement of 75%/10 year on real property improvements. FED ONE Properties VI, LLC, the property owner, was inadvertently excluded from the agreement.
Mohawk Carpet Distribution relocated their operations from 2395 Setterlin Dr. to 1675 Westbelt Dr in the Eastport Business Park. FED ONE Properties constructed a 350,000 square foot distribution center with 11,500 feet of finished office space. This property is expandable by an additional 200,000 square feet. Mohawk Carpet Distribution relocated 100 employees and will create a total of 50 new jobs.
The need exists to amend the agreement to include FED ONE Properties VI LLC. FED ONE Properties VI LLC is the property owner of 1675 Westbelt Dr and Mohawk Carpet Distribution LP is the tenant of the property.
FISCAL IMPACT: No funding is required for this legislation.
Title
To authorize the Director of the Department of Development to amend the existing Enterprise Zone Agreement with Mohawk Carpet Distribution LP to include FED ONE Properties VI, LLC as the property owner.
Body
WHEREAS, the City entered into an Enterprise Zone Agreement (EZA) with Mohawk Carpet Distribution LP, effective March 15, 2004; and
WHEREAS, the EZA provided real property tax exemptions of 75% for 10 years to Mohawk Carpet Distribution LP, the tenant of the real property at the project site located at Eastport in Columbus, based on an investment of $18,331,700 in real property improvements, retention of 100 (one hundred) full time jobs and the creation of 50 (fifty) full time jobs; and
WHEREAS, Columbus City Council, by Ordinance No. 2366-2003, passed November 3, 2003 authorized the agreement; and
WHEREAS, FED ONE...
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