Explanation
BACKGROUND: The need exists to enter into an Enterprise Zone Agreement with Frieland High LLC, Freeland Contracting Company, FreeAir LLC, Frieland Opportunity LLC, Frieland LLC and FM Resources. 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.
Freeland Contracting Company, established in 1991 and headquartered in Columbus, Ohio, has successfully completed many projects with an emphasis on commercial, retail, multifamily, and hospitality plumbing/piping projects. Freeland is also very proud to have one of only a few State of Ohio accredited plumbing apprenticeship school. Freeland Contracting Company, FreeAir LLC, Frieland Opportunity LLC and Frieland LLC are related and subsidiary companies of Frieland High LLC and FM Resources is a wholly-owned professional employer organization and employer of record.
Frieland High LLC, Freeland Contracting Company, FreeAir LLC, Frieland Opportunity LLC, Frieland LLC and FM Resources are proposing to invest a total project cost of approximately $5,550,000 including $5,000,000 in real property improvements to renovate a building of 14,918 sq. ft. and construct two new 12,000 sq. ft. buildings located at 2295 South High Street, Columbus, Ohio, parcel numbers 010-011211, 010-113280, 010-114238, and 010-114369 (“Project Site”). The company anticipates that the development of the proposed project will lead to the creation of 2 net new full-time permanent positions with an estimated new annual payroll of approximately $62,400 and retain 121 full-time permanent positions with an estimated annual payroll of 7,358,400 at the proposed 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 legislation.
FISCAL IMPACT: No Funding ...
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