Explanation
BACKGROUND: Columbus City Council, by Ordinance 1492-2005, passed September 21, 2005, authorized the City to enter into an Enterprise Zone Agreement (the Agreement) with Gowdy Partners LLC (Gowdy) for a tax abatement of seventy-five percent (75%) for a period of ten (10) years in consideration of a total investment of approximately $27,500,000, the retention of 450 full-time permanent jobs and the creation of 153 new full-time jobs. The project involved the construction of a 140,000 square foot facility to accommodate the relocation and expansion of Time Warner Cable, Inc. with the project site being 1015 Olentangy River Road, Columbus, OH 43212 on parcel 010-067230. (It should be noted that this same legislation also authorized the City to enter into a Job Creation Tax Credit Agreement with Time Warner Cable, Inc. in association with the creation of 203 new full-time jobs in association with the same project and a future Enterprise Zone Agreement with Gowdy Partners II LLC on a separate project.) The Agreement was made and entered into to be effective May 31, 2006 (EZA# 023-06-04) by and among the City, Gowdy and Time Warner Entertainment Company, L.P., however the City was only authorized to enter into the Agreement with Gowdy. This Agreement was subsequently authorized by Council to be amended for the first time to remove any and all language pertaining to personal property investment and tax abatements related to this personal property investment from the Agreement by Ordinance No. 0614-2009, passed May 11, 2009 but the amendment was never executed.
During calendar year 2012 the City became aware that Gowdy was no longer the owner of the project site but that parcel, now 010-280574, was conveyed to Time Warner Entertainment on July 18, 2007.
On January 28, 2013 a letter dated the same was received by the City via electronic mail from Time Warner Cable indicating that the property identified as the project site has been transferred completely to ...
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