Title
TO AUTHORIZE THE MAYOR TO ENTER INTO A PURCHASE AND DEVELOPMENT CONTRACT WITH RINGS BROTHERS, LLC FOR PROPERTY LOCATED AT 181 GRANVILLE STREET TO BE USED BY ROCKWOOD CLEANERS
Body
WHEREAS, Rockwood Cleaners is a business located within Olde Gahanna at 171 Granville Street; and
WHEREAS, the business owner, Bobby Rings, is seeking to expand his business operations and would like to purchase a 0.1397 acre portion of property located at 181 Granville Street to accommodate the expansion; and
WHEREAS, the Planning and Development Department has negotiated a Purchase and Development Agreement to facilitate this business expansion; and
WHEREAS, the agreement includes that the business will pay the City of Gahanna $30,000 for the purchase of the property, which is in line with the value of the property and is a mechanism to spur business retention and expansion; and
WHEREAS, the proposed expansion would be completed in a manner that is consistent with the guidelines of the Olde Gahanna Vision Plan and that the development of the property will occur in phases that include expanding the manufacturing portion within one year and then the office and retail portion within three years; and
WHEREAS, to accommodate this transaction, the City of Gahanna and the Gahanna Community Improvement Corporation (CIC) must complete obligations outlined in the Contract of Sale and Purchase Agreement that was entered into by the City of Gahanna and the CIC on February 22, 2011; and
WHEREAS, the City of Gahanna will have to pay $104,286 from the Olde Gahanna Tax Increment Financing District, to the Gahanna CIC in order to satisfy the existing mortgage on the property; and
WHEREAS; the Gahanna CIC will then have to transfer the deed of the property back to the City of Gahanna free of all encumbrances, these obligations are scheduled to be satisfied by January of 2017; and
WHEREAS, the Planning and Development Department recommend that City Council authorize the Mayor to en...
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