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File #: 1700-2019    Version: 1
Type: Ordinance Status: Passed
File created: 6/13/2019 In control: Economic Development Committee
On agenda: 7/22/2019 Final action: 7/25/2019
Title: To authorize the Director of the Department of Development to enter into a Downtown Office Incentive Agreement with Everstream Solutions, LLC.
Attachments: 1. ORD1700-2019 Everstream Solutions - Project Site Map, 2. ORD1700-2019 Everstream Solutions - Fact Sheet
Explanation
BACKGROUND: The Columbus Department of Development is proposing to enter into a Columbus Downtown Office Incentive Agreement with Everstream Solutions, LLC (“Everstream Solutions”).

Everstream Solutions provides fiber based Ethernet, Internet, and data center solutions to businesses throughout Northeast Ohio. It also offers cloud backup and recovery, dark fiber/wave, and engineering and construction services. Everstream Solutions was founded in 2014 and is based in Cleveland, Ohio. The company’s engineers monitor, manage and maintain visibility and control over Everstream Solutions’s 100% owned and operated fiber network from their 24/7 Network Operations Centers in Cleveland, Ohio and Lansing, Michigan. The company has 10,000 plus miles of fiber throughout the Midwest in five states: Illinois, Indiana, Michigan, Ohio and Wisconsin. Everstream Solutions, a for-profit company, was acquired in early 2018 by a group of venture capital investors. Previously, the company was a subsidiary of OneCommunity, a nonprofit organization based in Cleveland, Ohio, that works to expand high-speed broadband access and adoption to strengthen Northeast Ohio.

Everstream Solutions is proposing to invest a total project cost of approximately $100,000, which includes $50,000 in leasehold improvements, and $50,000 in furniture and fixtures to establish a new help desk/service operations center. The company proposes to enter into new lease agreement on a vacant office space that consists of approximately 7,390 square feet located at 240 N. 5th Street, Columbus, Ohio 43215 (the “Project Site”), within the Central Business District. Additionally, Everstream Solutions will create 40 net new full-time permanent positions with an annual payroll of approximately $3,000,000 at the proposed Project Site.

Everstream Solutions, LLC is requesting a Downtown Office Incentive from the City of Columbus to assist in the expansion of this project. This legislation is presented a...

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