Explanation
BACKGROUND: Columbus City Council (“COUNCIL”), by Ordinance No’s. 2017-2022, 2067-2022, and 2064-2022 passed July 25, 2022, authorized the City of Columbus (“CITY”) to enter into three (3) separate Enterprise Zone Agreements (collectively, the “AGREEMENTS”) with SFG Columbus Parsons LLC BLDG#1, BLDG#2, and BLDG#3 (collectively, and hereinafter referred to as “ENTERPRISE”) for tax abatements of seventy-five percent (75%) for a period of ten (10) years in consideration of a combined total investment of approximately $88,000,000.00 in real property improvements to construct three (3) separate Class A proactive industrial facilities totaling approximately 859,240 square feet on a vacant land parcel consisting of approximately 77 +/- acres at 2215-2295 Parsons Avenue, Columbus, Ohio 43207, parcel number 010-103971 (the “PROJECT SITE”). Additionally, the ENTERPRISE collectively committed to create one-hundred eight (108) net new full-time permanent positions with an estimated annual payroll totaling approximately $3,369,600.00 at the PROJECT SITE, and to preserve or create employment opportunities within the Columbus Enterprise Zone, (hereinafter referred to as the “PROJECT”). The AGREEMENTS were made and entered into effective September 6, 2022 (EZA #’s 023-22-23, 023-22-24, and 023-22-25).
In a letter received by the CITY from the ENTERPRISE, dated April 8, 2024, and through ensuing correspondence, the ENTERPRISE requested that the City of Columbus dissolve their current AGREEMENTS with SFG Columbus Parsons LLC BLDG#1, BLDG#2, and BLDG#3. The ENTERPRISE will pursue the Southside Investment District Community Reinvestment Area (“CRA”) tax abatement to continue to assist in the development of the aforementioned PROJECT and voluntarily wishes to terminate the AGREEMENTS in pursuit of the Southside Investment District CRA. As such, the need exists to dissolve the AGREEMENTS.
This legislation is to authorize the Director of the Department of Development to ...
Click here for full text