Explanation
Background: This legislation authorizes the Department of Development to enter into an Economic Development Agreement (the “EDA”) with 1489 Rohr Holding, LLC (the “Developer”). The Developer is proposing to construct a fifty six million dollars ($56,000,000) industrial/warehouse/distribution development including a minimum of approximately two million (2,000,000) square feet of industrial/warehouse/distribution space (the “Project”) on 229.993+/- acres located south of Rohr Road between the CSX railroad and Lockbourne Road. The Developer will finance the upfront costs of design and construction and cause to be designed/constructed additional site improvements, amenities, and regional public improvements. The Department of Development will submit for City Council consideration subsequent legislation to establish a non-school Tax Increment Financing (“TIF”) area including the site in order to support the reimbursement of the costs or financing of eligible public improvements necessary to support the development of the Project, and the Department of Development will submit for City Council consideration legislation for a property tax abatement of the Project that meets the terms set forth under for the Central Enterprise Zone (the “EZ”).
Fiscal Impact: There is no fiscal impact for this legislation.
Emergency Justification: Emergency legislation is necessary to allow the Developer to close on the site, maintain the project schedule, and to coincide with the established redevelopment timeline.
Title
To authorize the Department of Development to enter into an Economic Development Agreement with 1489 Rohr Holding, LLC to outline the plans and certain commitments of the City and Developer related to the proposed development of the real property currently known as Franklin County Auditor tax parcel ID numbers: 495-266702, 495-266703, and 495-266704 consisting of 229.993+/- acres located south of Rohr Road between the CSX railroad and Lockbourne Road; and ...
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