Explanation
BACKGROUND: The need exists to amend the Columbus Enterprise Zone Agreement with CSE Leasing dba Contract Sweepers and Equipment Company, Inc. (collectively and hereinafter referred to as “ENTERPRISE”). Columbus City Council (COUNCIL), by Ordinance No. 0489-2015, passed March 2, 2015, authorized the City of Columbus (CITY) to enter into an Enterprise Zone Agreement (the “AGREEMENT”) with CSE Leasing dba Contract Sweepers and Equipment Company, Inc. for a tax abatement of seventy-five percent (75%) for a period of ten (10) consecutive years in consideration of an approximate $1.5 million in total project costs, which includes $765,000 in new construction and leasehold improvements, acquisition costs, machinery, equipment, furniture and fixtures. The ENTERPRISE committed to create three (3) new full-time permanent positions with an annual payroll of approximately $85,280, and retain and relocate fifty-four (54) full-time jobs with an annual payroll of approximately $2.179 million related to the redevelopment of an on old vacant commercial facility for the expansion and relocation of its’ corporate headquarters. The new corporate headquarters will consist of approximately 16,456 sq. ft. +/- of office space with a proposal of expanding the building another 6,544 sq. ft., totaling approximately 23,000 sq. ft. In addition, ENTERPRISE is to construct a new separate wash bay building consisting of approximately 2,500 sq. ft. (the “PROJECT”) at 2137 Parkwood Avenue, parcel numbers 010-226069 and 010-099105 (“PROJECT SITE”), within the Columbus City School District and within the City of Columbus Enterprise Zone. The AGREEMENT was made and entered into effective April 10, 2015. The AGREEMENT stated that construction on the real property improvements was expected to begin no later than April 2015 and that all real property improvements were expected to be completed by the December 2015, and that no real property exemption shall commence after January 1, 2016...
Click here for full text