Explanation
BACKGROUND: Columbus City Council (COUNCIL), by Ordinance No. 1481-2012, passed July 16, 2012, authorized the City of Columbus (CITY) to enter into an Enterprise Zone Agreement (the AGREEMENT) with Amamata, LLC (hereinafter “ENTERPRISE”) for a tax abatement of seventy-five percent (75%) for a period of ten (10) years in consideration of a proposed investment of approximately $3 million in real property improvements and the creation of 40 new permanent full-time positions with an annual payroll of approximately $1.4 million related to the renovation of a 51,000 square foot vacant office facility on Parcel Number 520-121657 at 6400 East Broad Street, Columbus, OH 43213 (The Project Site), in Columbus, Ohio, within the City of Columbus Enterprise Zone (Zone #023) and within the Gahanna-Jefferson City School District. The AGREEMENT was made and entered into to be effective August 29, 2012 (EZA #023-12-04) with the term of the abatement not to commence after 2014 nor extend beyond 2023. The AGREEMENT was subsequently authorized to be amended for the first time by Ordinance No. 2852-2015, passed on November 23, 2015, to modify the project completion date and the expected real property exemption commencement and completion dates, so that within Section 1 of the AGREEMENT the language originally written as “The PROJECT is expected to begin July 2012. All real property improvements are expected to begin July 2012. All real property improvements are expected to be completed by December 2013” was authorized to be amended to read “The PROJECT is expected to begin July 2012. All real property improvements are expected to be completed by December 21, 2015” and that within Section 3 of the AGREEMENT the language originally written as “no real property exemption shall commence after 2014 nor extend beyond 2023” was authorized to be amended to read “no real property exemption shall commence after 2016 nor extend beyond 2025.” The First Amendment was made and entered...
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