Explanation
BACKGROUND: Columbus City Council, by Ordinance 1399-2013, passed June 24, 2013, authorized the City of Columbus (City) to enter into an Enterprise Zone Agreement (Agreement) with Cloverleaf Cold Storage Co. & CCS Realty Co. (together Enterprise) for a tax abatement of seventy-five percent (75%) for a period of ten (10) years in consideration of an approximate $3 million investment in real property improvements and the creation of two (2) full-time permanent positions with an annual payroll of approximately $49,920 related to the expansion of its Columbus facility by adding approximately 60,000 square feet of additional freezer space and a refrigerated loading dock onto its 142,000 square foot operation located at 2350 New World Drive, Columbus, OH 43207, at parcel number 530-234154, within the Groveport-Madison Local School District and within the City of Columbus Enterprise Zone. The Agreement was made and entered into effective September 18, 2013 (EZA #023-13-06). The Agreement stated that construction on the improvements (the Project) was expected to begin no later than the end of June, 2014 and that all real property improvements were expected to be completed by the end of 2014 and that no real property exemption was to commence after 2015 nor extend beyond 2024.
In a letter to the City from Cloverleaf Cold Storage Co. dated September 2, 2014 and received September 11, 2014, it was indicated that due to several factors, the planned investment in real property improvements had been delayed. The letter requested that the Agreement be modified to state that the Project is expected to begin no later than the end of June 2016 and that all improvements are expected to be completed by the end of 2016. Additionally, the letter requested that the term of real property exemption be amended to commence no later than 2017 nor extend beyond 2026 instead of 2015 through 2024.
This legislation is to authorize the Director of Development to amend the Agreemen...
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