Columbus council approves tax abatement for $16.6M Short North project

 The Pizzuti Companies will get a tax break from the City of Columbus for its $16.6 million plan to “transform a Short North antique marketplace and consignment shop into a commercial office and retail property,” The Columbus Dispatch reports. Columbus City Council approved a “10-year, 75 percent property tax abatement worth $3.1 million” for the project to create a “four-story, 59,000-square-foot mix of ground-floor retail and office space” with underground parking, according to the article. The project will create 25 new full-time jobs with a total annual payroll of $1.3 million by the end of 2022. Earlier this year, “the city released a study that found developers do not need incentives for residential construction” in areas such as the Short North (see our August 21, 2017, blog post), but Development Director Steve Schoeny “has said that the city’s incentives on commercial property” are “less generous than its regional competitors.” For more, read the full article.

Financial Incentives, State Updates