Explanation
BACKGROUND: The need exists to enter into an Enterprise Zone Agreement with Clarus Partners, LLC and Clarus Solutions, LLC. The Ohio Enterprise Zone law (Section 5709.62(C) of the Ohio Revised Code) requires the City to enter into Council-approved agreements between the City and participating companies.
Headquartered in Columbus, Clarus Partners, LLC is a locally owned accounting firm, whose origin dates to the mid-1950s. In 2007, Clarus Partners, LLC expanded beyond the basics and added a pair of additional partners, Brent Johnson and Mike Stevenson. Today, Clarus Partners, LLC has five partners, each with a unique skill set, and dozens of associates providing guidance in individual tax, CFO outsourcing, due diligence, litigation support, business valuation, corporate tax services, and many other supportive functions.
Clarus Solutions, LLC, an affiliated company owned largely by the principles of Clarus Partners, LLC, is a relatively new venture designed to target middle-market companies to encourage their participation in tax incentive programs once only used by large corporations because of the burdensome application and reporting requirements. An early success has been the Work Opportunity Tax Credit (WOTC) that is believed to be poised for wider use due, in part, to recent federal program reforms. To aide in the administration of this incentive, and others, Clarus Solutions, LLC created customized software to allow for a quick and easy application and hassle-free annual reporting.
Clarus Partners, LLC is proposing to purchase and renovate an existing, +/-20,000-square-foot building, 1233 Dublin Road, Columbus, Ohio 43215 (parcel number 010-129600), to house the current and future operations of both practices, Clarus Partners, LLC and Clarus Solutions, LLC, as part of lease arrangements. Clarus Partners, LLC will invest a total of approximately $2,800,000 related to property acquisition and building renovations so that Clarus Partners, LLC a...
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