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TO AUTHORIZE A COMMUNITY REINVESTMENT AREA AGREEMENT (CRA) WITH SUBURBAN STEEL SUPPLY CO. LLC, FOR A TAX ABATEMENT FOR A TWELVE YEAR PERIOD; FOR ONE HUNDRED PERCENT PROPERTY TAX ABATEMENT ON THE INCREASED VALUE OF THE PROPERTY; FOR PROPERTY LOCATED AT 1900 DEFFENBAUGH COURT; PARCEL ID NO. 025-013006; PART OF COMMUNITY REINVESTMENT AREA #1.
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WHEREAS, the Department of Planning & Development has been working with Suburban Steel on the expansion of their operations, and Suburban Steel is interested in adding 5,302 square feet of warehouse space on their site; and
WHEREAS, to help accomplish this goal, the property owner is seeking a property tax abatement on the improvements being made as part of the project; and
WHEREAS, Suburban Steel has been a part of our community since December, 2003, and they were one of the first businesses to locate to the Eastgate Industrial Park; and
WHEREAS, they have been an exemplary employer and have always answered the City’s call anytime there was a need for collaboration; and
WHEREAS, as part of the Business Retention and Expansion Strategy, it is important to encourage the business to make an investment in Gahanna, in order to help retain their business for years to come.
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 Suburban Steel Supply Co. LLC, for property located at 1900 Deffenbaugh Court, Gahanna, OH, 43230; 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.