By Rick Rouan, The Columbus Dispatch
COLUMBUS – Mayor Andrew J. Ginther expects to have a plan by the end of 2017 for improvements in Linden that will be paid for with cash that Columbus will receive in exchange for a tax break on new housing built at Easton Town Center.
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Ginther said at a news conference on Thursday that the city would begin planning efforts in March and that he wants to hear from Linden residents about how the money should be spent.
Among the ideas he already has heard: more investment along Cleveland Avenue, the main thoroughfare cutting through the struggling neighborhood east of Interstate 71.
“They believe that is the front door of the neighborhood,” Ginther said. “They want to focus on investing in infrastructure improvements and trying to attract businesses to the Cleveland Avenue corridor, tackling vacant and abandoned housing along the corridor.”
Under the deal, Easton’s lead developer, The Georgetown Co., would receive a 10-year, 100 percent property tax abatement on new residential development at Easton. That building could come in waves, with each new one getting the abatement as it’s built.
The abatements are estimated to be worth about $68 million.
In exchange, Georgetown would pay the city about $5.75 million, with about $4.25 million of that to be reimbursed to the company through a tax-increment financing district that covers much of the sprawling Easton development.
Georgetown and its associates also would provide in-kind services for the city’s effort to revitalize Linden. And the company would be required to create 500 jobs with salaries starting at $60,000.
Council President Zach Klein said Linden hasn’t had the “corporate champion” that other neighborhoods have had to help restore them. He expects Easton could be one that aids Linden.
“We’re going to see tangible results that lift people up here in the Linden community,” Klein said.
In addition, Georgetown and its partners, such as Steiner and Associates, will provide significant in-kind support to the City’s Linden efforts through real estate consulting and planning services.
The city is promising to earmark funds from an existing tax abatement at Easton to Linden with an upfront payment of $2.5 million within six months and a second payment of $1.75 million by the end of 2021.