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Council approves 75% tax abatement for planned industrial development at 1489 Rural Road
Summary
Columbus City Council approved a community reinvestment area agreement granting 75% property tax abatement for 15 years to 1489 Rural Holdings LLC for a proposed proactive industrial development at 1489 Rural Road, citing a roughly $30 million planned investment and placeholder job estimates.
Columbus City Council on second reading approved an agreement that authorizes the director of the Department of Development to enter into a community reinvestment area (CRA) agreement with 1489 Rural Holdings LLC that provides a 75% property tax abatement for 15 consecutive years for real property improvements at 1489 Rural Road.
Council members described the project as a proactive industrial development with a proposed total investment of approximately $30,000,000 and…
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