Explanation
BACKGROUND: The need exists to enter into an Enterprise Zone Agreement with Mohawk Carpet Distribution LP. The Ohio Enterprise Zone law O.R.C. Section 5709.62 (3) requires the City to enter into a Council-approved agreement between the City and participating companies.
Mohawk Carpet Distribution LP plans to construct a 350,000 square foot facility to accommodate relocation and expansion. The project will include an investment of $18,331,700.00, the retention of 100 (one hundred) jobs and the creation 50 (fifty) full-time jobs.
The Department of Development recommends a 75%/10 year tax abatement on real property improvements. This proposal is consistent with the Columbus Tax Incentive Policy under the Rickenbacker area.
The Columbus Public School District has been advised of this project.
FISCAL IMPACT: No funding is required for this legislation.
Title
To authorize the Director of Development to enter into an agreement with Mohawk Carpet Distribution LP for a tax abatement of 75% (seventy-five) percent on real property improvements for a period of 10 (ten) years in consideration of a proposed $18,331,700.00 investment, the retention of 100 (one hundred) jobs and the creation of 50 (fifty) new jobs; and to declare an emergency.
Body
WHEREAS, the Columbus City Council authorized the designation of the Enterprise
Zone by legislation, Ordinance Number 779-85, dated April 22, 1985; and
WHEREAS, the Ohio Development Department approved this designation under State of Ohio enterprise law, by letter dated June 12, 1985; and
WHEREAS, Mohawk Carpet Distribution LP plans to construct a 350,000 square foot
facility to accommodate relocation and expansion; and
WHEREAS, the expansion will add approximately $18,331,700 in investment within the
City; and
WHEREAS, the relocation and expansion will create 50 new full time jobs; and
WHEREAS, the City desires to enter into such a binding, formal agreement in orde...
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