Explanation
BACKGROUND: Columbus City Council (“COUNCIL”), by Ordinance No. 0852-2014, passed April 28, 2014, authorized the City of Columbus (“CITY”) to enter into an Enterprise Zone Agreement (the “AGREEMENT”) with FlightSafety International Inc. (hereinafter also referred to as “ENTERPRISE”), for a tax abatement of seventy-five percent (75%) for a period of ten (10) consecutive years in consideration of the ENTERPRISE’s total proposed capital investment of approximately $113 million, which included $22.5 million in real property improvements, $88 million in machinery and equipment, and $2.5 million in furniture and fixtures to construct a learning center office facility at 4010 Bridgeway Avenue, Columbus, Ohio 43219, Parcel Number 010-254179. Additionally, the ENTERPRISE agreed to retain one hundred and thirty-seven (137) full-time employees with an estimated annual payroll of $9.17 million and create eighteen (18) new full-time permanent positions with an estimated annual payroll of approximately $1.19 million, within the City of Columbus Central Enterprise Zone. The AGREEMENT was made and entered into effective June 16, 2014 with the abatement currently effective from 2018-2027 applied to parcel number 010-254179.
In a letter from the ENTERPRISE dated March 5, 2020, received by the CITY and through additional correspondence, the ENTERPRISE indicated and subsequently confirmed that a new joint venture with FlightSafety Textron Aviation Training LLC will be an additional employer of record, and some of the retained and newly created jobs will be associated with this new entity. The ENTERPRISE has requested that FlightSafety Textron Aviation Training LLC be added as an additional party to the AGREEMENT. As such, an amendment to the AGREEMENT is now needed to add FlightSafety Textron Aviation Training LLC as an additional party to the AGREEMENT.
Additionally, COUNCIL, by Ordinance No. 3221-2018, passed March 13, 2019, authorized the Director of Developmen...
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