Council approves 75% tax abatement for planned industrial development at 1489 Rural Road

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 an anticipated building of about 300,000 square feet. The legislation notes the developer expects the project to create 10 net new full-time permanent positions; the council record describes that job figure as a placeholder because no tenant had been identified at the time of the vote.

City staff told council that 1489 Rural Holdings LLC is a subsidiary of a U.S.-based real estate firm and that the company has managed two other proactive warehouse developments in the area. The Department of Development recommended designating the site in the Rickenbacker Community Reinvestment Area and granting the requested 75% abatement over 15 years.

Council members also noted the parcel sits near other jurisdictions (Groveport and Obetz) and said keeping the property in Columbus preserves the city's potential tax and job benefits. The legislation record referenced continued payments to Columbus City Schools and additional estimated revenue over the life of the abatement; the transcript figures provided were unclear and specific dollar amounts were not specified in the council record presented at the meeting.

The ordinance was moved and seconded on the floor, the roll was called and the item passed. The legislation was removed from the consent agenda to be read on second reading and adopted the same evening.

Votes at the roll call were recorded in the meeting transcript and the clerk announced the ordinance as passed.