Explanation
BACKGROUND: Columbus City Council (COUNCIL), by Ordinance No. 1449-2020, passed July 6, 2020, authorized the City of Columbus (CITY) to enter into an Enterprise Zone Agreement (the AGREEMENT) with 1489 Rohr Holding, LLC (“ENTERPRISE”), for a real property tax abatement of seventy-five percent (75%) for a period of ten (10) consecutive years in consideration of a proposed $12.6 million investment in real property improvements and the creation of 4 net new full-time permanent positions with an associated annual payroll of approximately $124,800 related to the construction of a new approximately 550,000 square foot speculative industrial distribution and warehouse facility (the PROJECT) on approximately 230 +/- acres of undeveloped land located at 1279 and 1489 Rohr Road (Parcel Numbers 495-266702, 495-266703, 495-266704) within the City of Columbus and within the City of Columbus Enterprise Zone (the PROJECT SITE). The AGREEMENT was made and entered into effective December 23, 2020 with the PROJECT expected to begin approximately November 2020, with all real property improvements expected to be completed by approximately March 2022 and with the abatement to commence no later than 2025 nor extend beyond 2034 (Agreement No. 023-21-05).
The AGREEMENT was subsequently authorized by COUNCIL to be amended for the first time to revise the scope of the PROJECT to: (1) revise the investment in real property improvements from $12.6 million to $25 million; and (2) revise the proposed total square footage of the facility from approximately 550,000 square feet to approximately 1 million square feet by Ordinance No. 1916-2021, passed July 19, 2021, with the First Amendment executed on and made effective as of April 14, 2021.
As of this date there has not been a filing of the DTE-24 with the Franklin County Auditor, no Final Determination from the Ohio Department of Taxation, and so no forgone tax benefit has yet been received.
Paragraph fourteen within Section 6 ...
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