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File #: 3118-2018    Version: 1
Type: Ordinance Status: Passed
File created: 11/2/2018 In control: Economic Development & Small Business Committee
On agenda: 12/3/2018 Final action: 12/6/2018
Title: To authorize the Director of the Department of Development to enter into an Enterprise Zone Agreement with Ohio Power Company for a property tax abatement of seventy-five percent (75%) for a period of ten (10) consecutive years in consideration of a proposed total investment of approximately $22,724,000.00, of which approximately $16,932,000.00 will be related to the construction of an approximately 82,753 +/- square foot transmission service center complex, retention of 60 full-time jobs and the creation of 4 net new full-time permanent positions.
Attachments: 1. ORD3118-2018 Ohio Power Company - Fact Sheet, 2. ORD3118-2018 Ohio Power Company - Site Map
Explanation

BACKGROUND: The need exists to enter into an Enterprise Zone Agreement with Ohio Power Company. 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.

Ohio Power Company provides electric power to nearly 1.5 million customers in Ohio in almost 1,000 communities located in 61 of the state's 88 counties. Ohio Power Company’s headquarters are in Gahanna, with regulatory and external affairs offices in downtown Columbus. Ohio Power Company is a subsidiary of American Electric Power and the largest of its regional utility divisions. American Electric Power (AEP), one of the largest electric utilities in the United States, delivers electricity to more than 5 million customers in 11 states and owns the nation's largest electricity transmission system. AEP's headquarters are in Columbus, Ohio. Ohio Power Company’s transmission assets for the Columbus district are currently scattered across multiple sites, each lacking suitable space and workplace infrastructure. The project will include new structures and site improvements to create a purpose-built, co-located facility for Ohio Power Company - Transmission personnel and assets in this service district.

Ohio Power Company proposes to invest the total project cost of approximately $22,724,000, which includes $16,932,000 in real property improvements, $1,292,000 in furniture, fixtures, and $4,500,000 in acquisition costs, to construct a new transmission service center consisting of approximately 82,753 sq. ft. +/- at 380 Old Morrison Road, Columbus, Ohio 43213, parcel number 010-087871. The proposed transmission service center will include an approximately 64,213 sq. ft. +/- building housing offices, meeting space, workshops, warehouse storage, and vehicle storage and an approximately 18,450 sq. ft. +/- facility for vehicle maintenance and storage. Additionally, Ohio Power Company w...

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