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ORDINANCE AUTHORIZING AN AGREEMENT WITH BUCKEYE ELM CONTRACTING, LLC, FOR TAX ABATEMENT FOR PROPERTY LOCATED AT 1333 RESEARCH ROAD; PARCEL ID NO. 025-013595; PART OF COMMUNITY REINVESTMENT AREA #1.
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WHEREAS, the Director of Economic Development has been working with Buckeye Elm Contracting, LLC to relocate their operations and corporate offices to Gahanna; and
WHEREAS, the project consists of acquiring the property at 1333 Research Road making improvements to the existing 19,000 square foot warehouse/office building; and
WHEREAS, the Department is recommending a 10 year 80% property tax abatement on the increased value of the property.
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) Tax Abatement Agreement with Buckeye Elm Contracting, LLC, for property located at 1333 Research Road, Parcel ID No. 025-013595, said Agreement attached hereto as EXHIBIT A, and made a part herein.
Section 2. That pursuant to MR-0052-2000 the Director of Planning and 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 the signature of approval by the Mayor.