Explanation
BACKGROUND: Columbus City Council (“COUNCIL”), by Ordinance No. 1647-2019, 1648-2019, 1649-2019, and 1646-2019 passed July 1, 2019, authorized the City of Columbus (“CITY”) to enter into four (4) Enterprise Zone Agreements (the “AGREEMENTS”) with Mission XC, LLC (I, II, III, and VI) (hereinafter referred to as “ENTERPRISES”), for real property tax abatements of seventy-five percent (75%) for a period of ten (10) consecutive years in consideration of a proposed combined total capital investment of approximately $56,000,000.00 in real property improvements to construct four (4) proactive industrial distribution facilities totaling approximately 1,590,472 square-feet on undeveloped land containing approximately 105 +/- acres containing the addresses 1260, 1280, 1302, and 1322 London Groveport Road, Columbus, Ohio 43137, parcel number 495-232636 (the “ORIGINAL PARCEL”), within the City of Columbus and within the City of Columbus Enterprise Zone (the “PROJECT SITE”). Additionally, the ENTERPRISES collectively committed to create ninety (90) net new full-time permanent positions with an associated annual payroll of approximately $2,932,800.00 at the PROJECT SITE, 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 December 3, 2019 with the PROJECT expected to begin approximately January 1, 2020, with all real property improvements expected to be completed by approximately December 31, 2020 and with the abatement to commence no later than 2021 nor extend beyond 2030 (EZA #’s. 023-19-14, 023-19-15, 023-19-16, 023-19-17).
Paragraph fourteen within Section 8 (Program Compliance) of the AGREEMENTS state 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 requi...
Click here for full text