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Council accepts Tax Incentive Review Council recommendations after annual review
Summary
Council unanimously accepted the Tax Incentive Review Council's 2024 recommendations, continuing the majority of enterprise-zone and CRA agreements while recommending dissolution of three agreements that failed job targets.
Columbus City Council voted to accept the Tax Incentive Review Council (TURC) recommendations evaluating the city’s portfolio of enterprise zone, community reinvestment area (CRA) agreements and tax-increment financing districts for 2024.
Sponsor Council member Bankston said TURC reviewed 117 active agreements and reported roughly 19,486 new and retained jobs (about 92% of goal), approximately $40.3 billion in property investment and substantial payroll gains. Deputy Director Jones told council that 97% of agreements were recommended to continue and three were recommended for dissolution because they met investment goals but failed to meet job-creation targets.
Bankston described the TURC process as a public accountability mechanism that includes other taxing districts and emphasized that follow-up legislation will present formal dissolutions for the three affected projects. The resolution accepting TURC’s recommendations was moved and adopted; council indicated follow-up ordinances will appear to implement dissolutions where recommended.
Next steps: the administration will return follow-up legislation to formally dissolve the three identified agreements and the city will monitor compliance in subsequent TURC cycles.
