Title
TO AUTHORIZE THE MAYOR TO ENTER INTO AMENDED AND RESTATED COMMUNITY REINVESTMENT AREA AGREEMENT FOR TAX ABATEMENT FOR PROPERTY LOCATED AT 735 CROSS POINTE ROAD AND IS A PART OF COMMUNITY REINVESTMENT AREA #1; SAID DISTRICT LAST AMENDED BY SR-0003-2003.
Drafter
dj
Body
WHEREAS, property located at 735 Cross Pointe Road is a part of Community Reinvestment Area #1; and
WHEREAS, JCS Property Management, LLC, 2061 Hardscrabble Road, Alexandria, OH 43001 is the property owner of record on the Franklin County Auditor's website; and
WHEREAS, a tax abatement agreement for this particular site was entered into in 2008 with JCS Property Management, LLC; and
WHEREAS, it is the recommendation of the Tax Incentive Review Council that the previous CRA Agreement be amended and restated for the remainder of the original abatement period; and
WHEREAS, on May 24, 2012, the Gahanna TIRC Board voted to recommend a reduction to 50% and 46 full-time equivalent jobs for the current property tax abatement;
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF GAHANNA, STATE OF OHIO:
Section 1. That the tax abatement agreement with JCS PROPERTY MANAGEMENT, LLC, for property located at 735 Cross Pointe Road and whose main offices are located at 2061 Hardscrabble Road, Alexandria, OH 43001, is hereby modified as set forth in EXHIBIT A attached hereto and made a part herein.
Section 2. That pursuant to MR-0052-2000 the Director of Development is authorized as Housing Officer to sign this agreement.
Section 3. That this ordinance shall be in full force and effect upon passage by Council and 30 days after date of signature of approval by the Mayor.