Explanation
BACKGROUND: The need exists to enter into an Enterprise Zone Agreement with 1489 Rohr Holding, LLC. The Ohio Enterprise Zone law O.R.C. Section 5709.62(C) requires the City to enter into a Council-approved agreement between the City and participating companies.
1489 Rohr Holding, LLC is a real estate holding company that is a subsidiary of Warden Capital, a commercial real estate developer. Headquartered in New York, Warden Capital acquires and develops projects across various asset classes, including speculative industrial development. Additionally, the company focuses its investments on self-storage, industrial, multi-family, office and retail properties in Chicago, Il., Columbus, OH, Indianapolis, IN, Louisville, KY and Nashville, TN. Hawkins Entrekin is the founder and managing principal of Warden Capital.
1489 Rohr Holding, LLC is proposing to invest a total project cost of approximately $12,600,000 on real property improvements to construct a speculative industrial distribution and warehouse facility consisting of approximately 550,000 square feet on approximately 230 +/- acres of an undeveloped land parcel located at 1279 and 1489 Rohr Road, Columbus, Ohio 43137, parcel numbers 495-266702, 495-266703 and 495-266704 (the “Project Site”). The developer anticipates that the development of the proposed project will lead to the relocation of an unknown number of positions from within the City of Columbus and the creation of 4 net new full-time permanent positions with an estimated new annual payroll of approximately $124,800 at the proposed Project Site.
Contingent upon the successful expansion of the City of Columbus Enterprise Zone (Zone 023), which would include the three parcels comprising the Project Site, the Department of Development recommends a 75%/10-year Enterprise Zone tax abatement on real property improvements.
The Columbus City School District has been advised of this project. This legislation is presented as 30-day legislat...
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