Explanation
BACKGROUND: The need exists to amend Ordinance No. 0390-2023 (the “Ordinance”), approved by Columbus City Council on March 6, 2023. The Ordinance authorized the Director of the Department of Development to enter into a City of Columbus Enterprise Zone Agreement (“the Agreement”) with CL Stelzer, LLC (the “Enterprise”). An amendment is now required to revise the 180-day window needed to execute the City of Columbus Enterprise Zone Agreement and to revise the name of the entity receiving the tax abatement.
The Ordinance authorized the Director of the Department of Development ("Director") of the City of Columbus (“CITY”) to enter into a City of Columbus Enterprise Zone Agreement (the “AGREEMENT”) with CL Stelzer, LLC (the “ENTERPRISE”) for a tax abatement of seventy-five percent (75%) for a period of ten (10) consecutive years in consideration of the ENTERPRISE'S proposed investment of approximately $17,146,315.00 in real property improvements and the creation of thirty (30) net new full-time permanent positions with an estimated associated annual payroll of approximately $1,134,000.00 related to the construction of a Class A proactive industrial development of approximately 270,000 square-feet on a vacant land parcel consisting of approximately 13.6 +/- acres at 885 Stelzer Road, Columbus, Ohio 43219, parcel number 010-146738), within the City of Columbus and within the City of Columbus Enterprise Zone (the “Project Site”).
Prior to the execution of the AGREEMENT, in a written communication received by the CITY from the ENTERPRISE dated May 16, 2023, and through ensuing correspondence, it was confirmed that Stelzer Industrial LLC has acquired ownership of the Project Site from CL Stelzer, LLC with the transfer having been recorded at the County Auditor’s Office on April 3, 2023. The initial applicant, CL Stelzer, LLC is a partner in Stelzer Industrial LLC. The managing partner of Stelzer Industrial LLC is Weston, Inc., a developer of industria...
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