Title
TO AUTHORIZE A SECOND MODIFICATION TO THE TERMS OF AN AGREEMENT FOR TAX ABATEMENT FOR PROPERTY LOCATED AT 690 TAYLOR ROAD AND IS A PART OF COMMUNITY REINVESTMENT AREA #4; SAID DISTRICT LAST AMENDED BY SR-0003-2000.
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WHEREAS, property located at 690 Taylor Road is a part of Community Reinvestment Area #4; and
WHEREAS, a tax abatement agreement for this particular site was entered into in 1995; and
WHEREAS, a modification to the terms of the agreement for tax abatement for said property was approved by ORD-0095-2009; and
WHEREAS, it is the recommendation of the Tax Incentive Review Council that the previous CRA Agreement as modified be modified for the second time for the remainder of the original abatement period; and
WHEREAS, on May 24, 2010 the Gahanna TIRC Board voted to recommend a reduction to 50% 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 Duff Warehouses, Inc., for property located at 690 Taylor Road, and whose main offices are located at 6851 Clum Road, Harrod, Ohio 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.