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File #: 1913-2021    Version: 1
Type: Ordinance Status: Passed
File created: 7/2/2021 In control: Economic Development Committee
On agenda: 7/19/2021 Final action: 7/22/2021
Title: To authorize the Director of the Department of Development to amend and restate the Enterprise Zone Agreement with Airside Four LLC for the purpose of (1) to remove Airside Four LLC as ENTERPRISE and party to the AGREEMENT and to be replace with Rupert Holdings, LTD and Distinctive Surfaces, LLC, (2) to revise the proposed job creation goal from 10 net new full-time permanent positions with an annual payroll of approximately $350,000.00 to 25 net new full-time permanent positions with an annual payroll of approximately $1,000,400.00, (3) add a job retention commitment of 61 full-time jobs with an annual payroll of approximately $2.43 million, (4) to revise the proposed total capital investment from $4.5 million to approximately $5.25 million, and (5) that the amended and restated agreement would fully follow the format of the City’s current City of Columbus Enterprise Zone Agreement format; and to declare an emergency.
Explanation
BACKGROUND: The need exists to amend and restate the Columbus Enterprise Zone Agreement between the City of Columbus and Airside Four LLC. Columbus City Council (“COUNCIL”), by Ordinance No. 1268-2018, passed May 21, 2018, authorized the City of Columbus (“CITY”) to enter into an Enterprise Zone Agreement (the “AGREEMENT”) with Airside Four LLC (the “ENTERPRISE”) for a tax abatement of seventy-five percent (75%) for a period of ten (10) consecutive years in consideration of a total project investment of approximately $4.5 million to construct a 60,000-square-foot speculative office and distribution center at 4610 Bridgeway Avenue, Columbus, Ohio 43219, parcel number 520-298452; formerly a portion of parcel number 520-164556 (the “PROJECT SITE”), within the Gahanna-Jefferson School District and the Eastland-Fairfield Career & Technical Schools, and within the City of Columbus Enterprise Zone. Additionally, the ENTERPRISE committed to create 10 net new full-time permanent positions to the City of Columbus with an associated new annual payroll of approximately $350,000 (the “PROJECT”) at the proposed PROJECT SITE. The AGREEMENT was made and entered into effective August 17, 2018 (Agreement #023-19-02). The AGREEMENT stated that construction on the real property improvements were expected to begin no later than August 2018 and that all real property improvements were expected to be completed by the August 2019, and that no real property exemption shall commence after 2020 nor extend beyond 2029. With the DTE-24 having been filed with the Franklin County Auditor on February 21, 2020 and the Final Determination having been issued by the Ohio Department of Taxation on February 16, 2001, the abatement is currently in place to run 2020 through 2029.

In a letter received by the CITY on behalf of the ENTERPRISE dated June 21, 2021 and through ensuing correspondence, it was confirmed that Rupert Holdings, LTD had acquired ownership of the PROJECT SITE from A...

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