Explanation
BACKGROUND: NRI Equity Land Investments, LLC is the owner of a 1.263 acre parcel of land, the legal description of which is attached hereto as Exhibit A which is in the City of Columbus (the "Columbus Parcel") and a 0.812 acre parcel of land, the legal description of which is attached hereto as Exhibit B which is in Grandview Heights (the "Grandview Heights Parcel" and, together with the Columbus Parcel, the "Property").
NRI Equity Land Investments, LLC desires to construct a commercial building on the Property, a portion of which will be located on the Columbus Parcel and a portion of which will be located on the Grandview Heights Parcel. Columbus, Grandview Heights and NRI Equity Land Investments, LLC desire to reach agreement relative to providing municipal services to the Property, the jurisdiction for the enforcement of applicable codes and regulations, the sharing of income taxes between Grandview Heights and Columbus and municipal fees generated from the Property.
FISCAL IMPACT: No City funding is required for this legislation.
Title
To authorize the Director of Development to enter into an Agreement Regarding Municipal Services and Taxes For Office Building between the City of Columbus, the City of Grandview Heights, and NRI Equity Land Investments, LLC relative to providing the jurisdiction for the enforcement of applicable codes and regulations, the sharing of income taxes between Grandview Heights and Columbus, and municipal fees generated from the Property; and to declare an emergency.
Body
WHEREAS, NRI Equity Land Investments, LLC is the owner of a 1.263 acre parcel of land, the legal description of which is attached hereto as Exhibit A which is in the City of Columbus (the "Columbus Parcel") and a 0.812 acre parcel of land, the legal description of which is attached hereto as Exhibit B which is in Grandview Heights (the "Grandview Heights Parcel" and, together with the Columbus Parcel, the "Property"); and
WHEREAS, NRI Equity Land Investments, LLC desires to construct a commercial building on the Property, a portion of which will be located on the Columbus Parcel and a portion of which will be located on the Grandview Heights Parcel; and
WHEREAS, Columbus, Grandview Heights and Company desire to reach agreement relative to providing municipal services to the Property, the jurisdiction for the enforcement of applicable codes and regulations, the sharing of income taxes between Grandview Heights and Columbus, and municipal fees generated from the Property; and
WHEREAS, an emergency exists in that this Ordinance is required to be immediately effective in order to facilitate the continuing development of the 3rd Avenue and Olentangy River Road area, such immediate action being necessary for the preservation of the public health, peace, property and safety; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. The Director of Development is hereby authorized to enter into an Agreement Regarding Municipal Services and Taxes For Office Building, the "Agreement", among the City of Columbus, the City of Grandview Heights, and NRI Equity Land Investments, LLC relative to providing the jurisdiction for the enforcement of applicable codes and regulations, the sharing and collection of income taxes between Grandview Heights and Columbus, and municipal fees generated from the Property.
Section 2. The Director of Development is also hereby authorized to execute future riders to the Agreement in the form attached to the Agreement as Exhibit C provided the only change in the format shall be the substitution of the actual or calculated square footage of the future buildings in each municipality.
Section 3. 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 the passage if the Mayor neither approves nor vetoes the same.