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TO AUTHORIZE AN AGREEMENT WITH GAHANNA PARKWAY LLC, FOR TAX ABATEMENT FOR PROPERTY LOCATED AT 1140 GAHANNA PARKWAY; PARCEL ID NO. 025-007810; FOR A PERIOD OF TWELVE YEARS, FOR ONE HUNDRED PERCENT TAX ABATEMENT ON THE INCREASED VALUE OF THE PROPERTY; PART OF COMMUNITY REINVESTMENT AREA #3.
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WHEREAS, The Department of Planning & Development has been working with Jim and Tom Grote on a transformative project located at 1140 Gahanna Parkway, called The EDGE Innovation Hub; and
WHEREAS, the project area is located within the Industrial Zone (TIZ), which was established by the City more than thirty years ago in order to help grow business operations in Gahanna; and
WHEREAS, the mission of The EDGE Innovation Hub is to drive food technology to create a future where food is accessible, healthy, sustainable, and delicious for all; and
WHEREAS, The EDGE will attract small innovative companies to the City by providing collaborative working space, industry events, and entrepreneurial support, which is the first of its kind in the area.
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 Gahanna Parkway LLC, for property located at 1140 Gahanna Parkway, Parcel ID No. 025-007810, 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.