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AN ORDINANCE AUTHORIZING THE HOUSING OFFICER TO ENTER INTO COMMUNITY REINVESTMENT AREA (CRA) AGREEMENT FOR THE EXPANSION OF OHIO EXTERIORS.
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WHEREAS, Ohio Exteriors is an existing business located within the City’s Community Reinvestment Area (CRA) #5 and employees 10 full-time employees and 22 contractors, with an existing payroll of $1.37M; and
WHEREAS, the business is exploring investing another $600k into their facilities and expansion of employees and contractors for an additional payroll of $1.3M-$1.6M; and
WHEREAS, the proposed project includes capital investment of $20M+, including the construction of a manufacturing and research facility; and
WHEREAS, the projected return on investment associated with the project for the City is 107-172%.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF GAHANNA, COUNTY OF FRANKLIN, STATE OF OHIO:
Section 1. That the Housing Officer is authorized to execute a Community Reinvestment Area (CRA) Agreement with Ohio Exteriors, 244 Agler Rd., Gahanna, OH 43230, said Agreement attached hereto as EXHIBIT A, and made a part herein.
Section 2. That this Ordinance shall be in full force and effect upon passage by Council and 30 days after the signature of approval by the Mayor.