Original story by Tristan Navera, Columbus Business First
Three companies want to consolidate and put up an office building in Gahanna.
Gahanna City Council will vote Monday night on whether to sell the 4.4-acre, city-owned property at 785 Science Blvd. to the Gahanna Community Improvement Corp. for $300,000.
If the sale is approved, the improvement corporation would then sell it to the businesses for the same price and those companies would put up a 50,000-square-foot office building on the site.
The city also could offer a 15-year, 100 percent property tax abatement on the project, city documents show, as well as reimbursing $10,000 for site preparation costs and providing fiber-optic cables from the site to a nearby data center to help bring “better and cheaper technology services.”
A memo from the city notes that the companies are in engineering and software development. They would invest $6 million to buy the land and build and outfit the building, city documents show.
The developer is listed as Franklin Peak LLC, which state filings show was incorporated by Wil Schulze, founder and president of two companies: IJUS LLC, which now is based at 690 Taylor Road and works in engineering design, project management and other things; and Spida Software, which now is located at 560 Officenter Place and works in software, data management and consulting mainly for electronic and telecommunications providers.
A message was left with Schulze.
The project will retain 131 jobs in the city and allow the companies to continue to grow by 27 jobs over five years, with the average job bringing $66,207 in payroll, for a combined $10.5 million in annual payroll if completed.
The city says the three companies would vacate a combined 26,000 square feet of office space, which will mean “indirect” benefit once they are backfilled.
In return, the city will get $1.5 million in income tax and property sale revenue for the first 15 years, and then $3.4 million in income tax and Tax Increment Financing revenue for the next 15 years, it said.