Explanation
BACKGROUND:
City Council has by Ordinance No. 1194-02, adopted July 29, 2002, authorized the sale of its interest in the 0.7553 acre parcel, situated generally on South High Street immediately west of the City Center Parking Facility, to Capitol South Community Urban Redevelopment Corporation to facilitate the development thereon of a market-rate apartment project. Since such authorization, the scope of such project has changed and additional agreements and documents necessary to proceed to closing have been identified. This Ordinance amends such previous Ordinance to redefine the project as comprising 75 market-rate apartments over retail space and to authorize the additional agreements and documents necessary to proceed with development.
FISCAL IMPACT:
No funding is required for this legislation.
Title
To amend Ordinance No. 1194-02; to authorize the Directors of Finance, Public Utilities and Public Service to enter into additional agreements and documents in connection with the conveyance of the City's interest in a 0.7553 acre property on South High Street to Capitol South Community Urban Redevelopment Corporation and the future development thereof; and to declare an emergency.
Body
WHEREAS, the Council of the City of Columbus did by Ordinance No. 1194-02, adopted July 29, 2002, authorize the sale of its interest in the 0.7553 acre parcel, situated generally on South High Street immediately west of the City Center Parking Facility, to Capitol South Community Urban Redevelopment Corporation to facilitate the development thereon of a 100 market-rate apartments in two, six story buildings; and
WHEREAS, the project has been re-defined is now comprised of 75 market-rate apartments over retail in one, four story building (the "High Street Apartment Project"); and
WHEREAS, additional agreements and documents necessary to proceed to closing have been identified; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development in that expediting the sale transaction and commencement of the High Street Apartment Project will preserve the public health, peace, property, safety and welfare; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the Director of Finance be and he is hereby authorized to approve the Section 1. That so much of Section 1 of Ordinance No. 1194-02 as reads:
"Further, that the Director of Finance be and hereby is authorized to execute a quit claim from the City to Capitol South in completion of such sale agreement, a mutual release of any previous lease and any other previous agreement or document between the City and Capitol South that may be required or helpful in clearing title to such real estate in Capitol South, and an easement agreement between the City and Capitol South providing for a continuing easement for the existing utilities in vacated Cherry Street."
be and the same is hereby amended to read:
"Further, that the Director of Finance be and hereby is authorized to enter into, execute and deliver the following, the form in each instance to be approved by the City Attorney's Office, Department of Law, Real Estate Division:
(a) a quit claim deed from the City to Capitol South in completion of such sales agreement;
(b) a mutual release of any previous lease and any other previous agreement or document between the City and Capitol South that may be required or helpful in clearing title to such real estate in Capitol South;
(c) a reciprocal easement agreement among the City, as the fee owner of the adjacent City Center Parking Facility, Capitol South and the Developer providing for ingress, egress, maintenance, encroachments across the common property line and other matters;
(d) a long term parking agreement among the City, as the fee owner of the adjacent City Center Parking Facility, Capitol South and the Developer providing for parking in such parking facility; and
(e) such other agreements and documents, not substantially adverse to the City, as may be appropriate, necessary or convenient to effect and facilitate the conveyance and development contemplated hereby.
"Further, that the Director of Public Utilities be and hereby is authorized to enter into, execute and deliver an agreement between the City and Capitol South and/or the developer of the High Street Apartment Project providing a continuing easement for the existing utilities in vacated Cherry Street, the form thereof to be approved by the City Attorney's Office, Department of Law, Real Estate Division and the content thereof to be acceptable to the Director of Public Utilities.
"Further, that the Director of Public Service be and hereby is authorized to enter into, execute and deliver an agreement between the City and the Developer providing for an easement for a building encroachment into the rights of way of Rich and Main Streets (two areas, each approximately 3.5 feet in depth) and of High Street (two areas, each approximately 3 feet in depth and a building marquee), the form thereof to be approved by the City Attorney's Office, Department of Law, Real Estate Division and the content thereof to be acceptable to the Director of Public Service."
Section 2. That Ordinance No. 1194-02 is hereby ratified and confirmed, except as expressly amended hereby.
Section 3. That for the reasons stated in the preamble hereto, which is hereby made a part hereof, this Ordinance is hereby declared to be an emergency measure and shall take effect and be in force from and after its passage and approval by the Mayor or ten days after passage if the Mayor neither approves, nor vetoes, the same.