Explanation
BACKGROUND: Columbus City Council (“COUNCIL”), by Ordinance No. 2133-2020, passed October 12, 2020, authorized the City of Columbus (“CITY”) to enter into an Enterprise Zone Agreement (the “AGREEMENT”) with TKS Industrial Company, with its main offices located at 1939 Refugee Road, Columbus, Ohio 43207 and Minerva Ridge II LLC, with its main offices located at 1241 Dublin Road, Columbus, Ohio 43215 (collectively, and hereinafter referred to as “ENTERPRISE”), for a real property tax abatement of seventy-five percent (75%) for a period of ten (10) consecutive years in consideration of a proposed total capital investment of approximately $1,405,560.00, which included approximately $1,233,860.00 in real property improvements, and $171,700.00 in furniture and fixtures to expand its existing manufacturing facility by approximately 15,800 square feet at 1939 Refuge Road, Columbus, Ohio 43207, parcel number 010-087995 (the “PROJECT SITE”). Additionally, the ENTERPRISE committed to create twelve (12) net new full-time permanent positions with an associated annual payroll of approximately $686,820.00 at the PROJECT SITE. The AGREEMENT was made and entered into effective December 23, 2020 with the PROJECT expected to begin approximately January 2021, with all real property improvements expected to be completed approximately by December 2022 and with the abatement to commence no later than 2023 nor extend beyond 2032 (Agreement No. 023-21-06).
Paragraph fourteen within Section 6 (Program Compliance), of the AGREEMENT, states that the “AGREEMENT is not transferable or assignable without the express, written, approval of the CITY” and, paragraph fifteen of that same section, states that “any requested amendment…to any of the terms of the AGREEMENT…shall require the payment to the CITY by the ENTERPRISE of an AMENDMENT FEE in the amount of five-hundred dollars ($500.00).”
In a letter from Taikisha on behalf of the ENTERPRISE dated May 16, 2025, received by the C...
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