Explanation
BACKGROUND:
This resolution is presented as a result of Columbus City Council Ordinance No. 1607-02, passed October 21, 2002, regarding the creation of the Jeffrey Place New Community Authority (the "Authority") and acknowledges that Authority as a body politic and corporate within the new community district (the "District") along with its associated Board of Trustees.
Jeffrey Place will provide traditional Neighborhood development to include over 850 residential units, a neighborhood school and hotel, retail space and over 300,000 square feet of office space. Total investment is estimated at over $200 million. The site encompasses 43 acres in Italian Village just north of downtown.
Jeffrey Place Development LLC; the developer, wishes to create the authority to set forth and administer real estate covenants, restrictions, community development charges and other plans regarding development, fees and obligations. A public hearing is required by law to establish a community authority.
FISCAL IMPACT:
No funding is required for this legislation.
Title
To resolve to declare the Jeffrey Place New Community Authority organized as a body politic and corporate, within the new community district, along with its associated Board of Trustees and to post notice of the Jeffrey Place New Community Authority's creation in the City Bulletin and notify the Board of County Commissioners of Franklin County; and to declare an emergency.
Body
WHEREAS, pursuant to Chapter 349 of the Revised Code, a petition (the "Petition") for the establishment of the Jeffrey Place New Community Authority (the "Authority") for a proposed new community district (the "District") was filed with the City of Columbus and accepted by Ordinance No. 1607-02 passed by this Council on October 21, 2002; and
WHEREAS, pursuant to Section 349.03 of the Revised Code, the Columbus City Council held a public hearing on November 25, 2002 after public notice was duly published in accordance with Section 349-03; and
WHEREAS, this Council finds that the Authority will be conducive to the public health, safety, convenience and welfare and is intended to result in the development of a new community; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development in that it is necessary to proceed as quickly as possible to facilitate the formation of the Authority to finance and commence construction of improvements within the boundaries of the Authority as soon as possible for the immediate preservation of the public peace, property, health and safety; now, therefore,
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That this Council finds and determines that the District will be conducive to the public health, safety, convenience and welfare, and is intended to result in the development of a new community as defined in Section 349.01 (A) of the Revised Code.
Section 2. That this Council hereby declares that the Authority is hereby organized as a body politic and corporate, shall be known as "Jeffrey Place New Community Authority", and the boundary of the District is as described on Exhibit A attached hereto.
Section 3. That the Board of Trustees of the Authority shall be composed of seven (7) members selected as provided in Section 349-04 of the Revised Code, and pursuant to that Section 349.04 of the Revised Code, each member of the Board of Trustees of the Authority shall post a bond in the amount of $10,000 for the faithful performance of their duties. The bond shall be with a company authorized to conduct business within the State of Ohio as a surety.
Section 4. That this Council shall enter the creation of the Jeffrey Place New Community Authority of record in the City Bulletin, and the City Clerk shall send a copy of this Resolution to the Board of County Commissioners of Franklin County.
Section 5. That for the reasons stated in the preamble hereto, which is hereby made a part hereof, this Resolution is declared to be an emergency measure and shall take effect and be in force from and after its adoption and approval by the Mayor, or ten days after adoption if the Mayor neither approves nor vetoes the same.