Explanation
BACKGROUND: The need exists to enter into an Enterprise Zone Agreement with Jana Holdings, LLC and Acorn Distributors, Inc. 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.
Jana Holdings, LLC is a real estate holding company owned by Al Wachter, Vice President of Acorn Distributors, Inc., a wholesale distributor of janitorial and food service supplies and equipment.
Founded more than 40 years ago by Al Wachter, Acorn Distributors, Inc. has grown from a small restaurant supply house into a multi-million dollar distributor of disposable paper and plastic, janitorial supplies and equipment, chemicals and foodservice supply products. In 2005, Jennifer Rosenberg, became President and second generation owner of Acorn Distributors, Inc. The company maintained its family owned business status and gained its WBE certification in 2007.
Acorn Distributors, Inc. will retain 42 full-time permanent positions at the project site with an associated annual payroll of approximately $2.1 million and create 12 new full-time permanent positions with an associated new annual payroll of approximately $540,000. The project involves a total investment of approximately $4.8 million, which includes $4.5 million in new construction and the balance related to the acquisition of machinery, equipment, stand-alone computers, furniture and fixtures.
The Department of Development recommends an Enterprise Zone property tax abatement of seventy-five percent (75%) for a period of ten (10) years on real property improvements for the purpose of constructing a new 100,000 square-foot office and warehouse distribution facility on Crosswind Drive, Columbus, Ohio, Ohio 43228, parcel number 570-229192-00 570-210752-00.
The Southwestern City School District has been advised of this project. This legislation is presented as 30 day legislation.
FISCAL I...
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