Explanation
BACKGROUND: The need exists to amend Ordinance 2511-2020, approved by Columbus City Council on November 23, 2020, which authorized the Director of the Department of Development to enter into a City of Columbus Enterprise Zone Agreement (the “AGREEMENT”) with Marble Cliff Canyon, LLC (“MCC”). An amendment is now required to revise the 180-day window needed to execute the City of Columbus Enterprise Zone Agreement.
The ordinance authorized the Director of the Department of Development to enter into an Enterprise Zone Agreement of seventy-five percent (75%) for a period of ten (10) consecutive years in consideration of the company’s proposed total project cost of approximately $10,845,000, which includes $9,200,000 in real property improvements, $145,000 in acquisition cost, and $1,500,000 in furniture and fixtures to construct a new 3-story speculative commercial office structure consisting of approximately 43,000 square feet on roughly 70 +/- acres of undeveloped land (the “Project”), located 2130 Quarry Trails, Columbus, Ohio 43204 (the “Project Site”). Additionally, the company has committed to create 5 net new full-time permanent positions with an estimated annual payroll of approximately $175,000 at the Project Site.
During the application process, it was ascertained that the proposed Project Site is not located in an Enterprise Zone; therefore, an expansion of the existing City of Columbus Enterprise Zone was required to include the Project Site. On February 22, 2021, Columbus City Council approved Ordinance No. 0279-2021 that authorized the Director of the Department of Development to petition the Director of the Ohio Development Services Agency (“ODSA”) for an amendment to the certification of the existing urban jobs and enterprise zone within the City of Columbus known as the Columbus Enterprise Zone. On May 21, 2021, the Department of Development received a written notification from ODSA that as of May 20, 2021, the expansion to the C...
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