Explanation
BACKGROUND: Community Reinvestment Areas (CRAs) have been designated by Columbus City Council under the general guidelines of Ordinance 1698-78. Such areas allow for granting real property tax incentives to encourage industrial, commercial and residential growth.
Columbus City Council (Council) by Ordinance 2849-2015, adopted November 23, 2015, designated the Hamilton-161 Community Reinvestment Area as a “Community Reinvestment Area” pursuant to Chapter 3735 of the Ohio Revised Code. Effective December 17, 2015, the Director of the Ohio Development Services Agency determined that the aforementioned area designated in the aforementioned Council Ordinance contained the characteristics set forth in Ohio Revised Code Section 3735.66 and confirmed that area as a “Community Reinvestment Area” pursuant to said Chapter 3735.
As part of the new Hamilton Quarter development, a 330-acre mixed-use district at Hamilton Road and State Route 161, Hamilton Crossing BL LLC, a single-purpose entity established to invest in a 25-acre site to support the corporate office relocation of Big Lots, Inc., proposes to construct a new approximately 300,000-square-foot corporate office campus and one or more associated parking structures at the southwest quadrant of State Route 161 and Hamilton Road. This corporate campus will be the future corporate headquarters facility for Big Lots, Inc. and will be leased to Big Lots, Inc. or one of its affiliates. The campus will comprise approximately 25 acres and all or part of parcels 010-286113; 010-286114; 010-221377; 010-280216; and 010-247887 within the City of Columbus in Franklin County.
Big Lots, Inc. will retain and relocate 750 full-time permanent positions from their current headquarters located at 300 Phillipi Road to the Project Site with an associated annual payroll of $65,000,000 and create 5 new full-time permanent positions with an associated new annual payroll of approximately $362,500. The project involves a total...
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