Explanation
BACKGROUND: Columbus City Council (COUNCIL), by Ordinance No. 0489-2015, passed March 2, 2015, authorized the City of Columbus (CITY) to enter into an Enterprise Zone Agreement (the AGREEMENT) with CSE Leasing dba Contract Sweepers and Equipment Company, Inc. (ENTERPRISE) for a tax abatement of seventy-five percent (75%) for a period of ten (10) years in consideration of an investment of approximately $1.55 million, which included $590,000 in acquisition cost, $605,000 in real property improvements, $120,000 in machinery and equipment, $75,000 in furniture and fixtures and $160,000 in leasehold improvements, and the creation of three (3) new full-time permanent positions with an annual payroll of approximately $85,280, and the retention of 54 full-time jobs with an estimated annual payroll of approximately $2.179 million related to the redevelopment of an old vacant commercial facility to relocate its corporate headquarters (HQ). The corporate HQ consists of approximately 16,456 sq. ft. of office space with a proposal of expanding the building another 6,544 sq. ft., totaling approximately 23,000 sq. ft. at 2137 Parkwood Avenue on parcel numbers 010-226069 and 010-099105 (the PROJECT SITE), in Columbus Ohio, within the Columbus City School District and within the Columbus Central Enterprise Zone. The AGREEMENT was made and entered into effective April 10, 2015 (EZA #023-15-100). The AGREEMENT stated that construction on the improvements (the PROJECT) was expected to begin April 2015 with all real property improvements expected to be completed by December 2015.
The AGREEMENT was subsequently authorized by COUNCIL to be amended for the first time to amend the exemption window by Ordinance No. 1017-2017, passed on May 1, 2017, with the First Amendment to the AGREEMENT being made and entered into effective May 25, 2017. The abatement is currently running from 2017 through 2026.
Subsequently, in a letter to the CITY on behalf of the ENTERPRISE dated Feb...
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