Explanation
BACKGROUND: The 2009 Columbus Tax Incentive Review Council (TIRC) reviewed the Weiler-Bowen Ltd. Enterprise Zone project on August 18, 2009, and recommended that the City should consider dissolving the Enterprise Zone Agreement (EZA #023-98-05, hereinafter "AGREEMENT") between the City and Weiler-Bowen, Limited (hereinafter "ENTERPRISE"). The City concurs with the recommendation of the TIRC.
Columbus City Council (hereinafter "COUNCIL") approved the AGREEMENT between the City of Columbus and Weiler-Bowen, Limited and Calltech Communications, Incorporated by Ordinance No. 2329-97, adopted September 30, 1997. The AGREEMENT was entered into effective September 30, 1997 and granted a ten (10) year real property tax abatement with the abatement amount being 100% for years 1 through 5 and 50% for years 6 through 10 on real property improvements with a commitment of $3.5 million in real property improvements, $3.8 million in personal property investment, the creation of between 150 to 200 new permanent full-time jobs related to the redevelopment of approximately 95,000 square feet of office/warehouse space on 1108 City Park Avenue within the City of Columbus Enterprise Zone (Zone #023). The project was expected to begin June 1, 1998 and all acquisition, construction, and installation were expected to be completed by June 1, 1999. No real property tax exemption was to neither commence before 1998 nor extend beyond 2009.
The AGREEMENT was subsequently authorized to be amended for the first time by Ordinance No. 2507-2003, passed by COUNCIL December 8, 2003, effective March 4, 2004, to remove Calltech Communications, Incorporated from the AGREEMENT and to acknowledge multiple tenants at the facility.
The AGREEMENT was subsequently authorized to be amended for the second time by Ordinance No. 1916-2004, passed by COUNCIL November 1, 2004 to modify the abatement schedule to be 100% for years 1 through 4 (2000 to 2003) and 50% for years 5 through 1...
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