Explanation
Background:
Western Property LLC (“Developer”) owns approximately 264± acres of property located at 5141 Cosgray Road (the “Developer Property”). The Developer Property is situated in the Hayden Run corridor and is to subject to Columbus Pay As We Grow (PAWG) program requirements for the Northwest PAWG area (the “Northwest PAWG”). The Developer Property was initially rezoned by Dominion Homes, Inc. (“Dominion”) in 2006 pursuant to Ordinance No. 1890-2006 (Rezoning # Z06-045). Under the authority of Ordinance No. 1991-2006, the City and Dominion entered into a Memorandum of Understanding on January 24, 2007 (the “Hayden Run II MOU ”) outlining PAWG commitments and obligations as it pertained to the rezoning. In 2007, Dominion transferred the Developer Property to the Developer and assigned the Hayden Run II MOU to the Developer pursuant to the limited warranty deed recorded with the Franklin County Recorder’s Office on March 30, 2007 as Instrument No. 200703300054970.
The Developer has applied to rezone the property pursuant to Rezoning Application # Z23-063 which is currently pending Columbus City Council approval of Ordinance No. 2921-2024 (the “New Rezoning”). The development proposed under the New Rezoning is more substantial and will require more substantial regional improvements than those contemplated under the Hayden Run II MOU. Therefore, pursuant to the New Rezoning, the Developer is required to execute a new agreement with the City to affirm updated PAWG commitments and obligations.
In following the City's Northwest PAWG policy to generate revenue that will pay for regional improvements, the Developer shall: 1) support the inclusion of the Developer’s Property within one or more Tax Increment Financing (TIF) Districts to be established by the City in accordance with Ohio Revised Code (“R.C.”) 5709.40; 2) make one-time per unit contributions of up to $1,700 for up to the maximum number of 2,050 units constructed, which may be reduced for credit given to account for land conveyances and regional improvements; and 3) take all necessary steps to establish the Jameson Estates Community Development District in accordance with R.C. Chapter 349 (the “Authority”). The Developer shall encumber the Developer Property with a Declaration of Covenants and Restrictions (the “Declaration”) for the District that shall require each current and future owner of all or any portion of the Developer Property to pay an annual Community Development Charge, as such term is defined in Section 349.01 of the Ohio Revised Code, to the Authority in an amount of no less than 0.004 multiplied by the "Assessed Value" of such property for a minimum period of twenty (20) years commencing one (1) year after the date of completion of the construction of each residential structure (as evidenced by a Certificate of Occupancy). Within ninety days of the execution of the Pay as We Grow Agreement, the Developer will take all necessary steps to establish the Authority, including, without limitation, filing a petition with the Clerk of Council.
This legislation authorizes the Director of the Department of Development to terminate the Hayden Run II MOU and enter into a Pay As We Grow Agreement (“PAWG Agreement”) with the Developer to outline the plans and respective commitments of the City and Developer for the fulfillment of Northwest PAWG requirements as it relates to the Developer Property.
Fiscal Impact: No funding is required for this legislation.
Title
To authorize the Director of the Department of Development to enter into a Pay As We Grow Agreement with Western Property LLC for fulfillment of Pay As We Grow requirements for property located at 5141 Cosgray Road, subject to Rezoning Application # Z23-063, and to terminate the Memorandum of Understanding with Dominion Homes, Inc., as it relates to said property. ($0.00)
Body
WHEREAS, Western Property LLC (the “Developer”) owns approximately 264± acres of property located at 5141 Cosgray Road (the “Developer’s Property”); and
WHEREAS, the Developer’s Property is situated in the Hayden Run corridor and is subject to Columbus Pay As We Grow (PAWG) requirements for the Northwest PAWG area (the “Northwest PAWG”); and
WHEREAS, Dominion Homes, Inc. (“Dominion”) rezoned the Developer’s Property in 2006 pursuant to Ordinance No. 1890-2006 (Rezoning # Z06-045) and subsequently entered into a Memorandum of Understanding with the City on January 24, 2007 (the “Hayden Run II MOU”) affirming PAWG commitments and obligations related to the rezoning; and
WHEREAS, Dominion transferred the Developer Property and assigned the Hayden Run II MOU to the Developer pursuant to the limited warranty deed recorded with the Franklin County Recorder’s Office on March 30, 2007 as Instrument No. 200703300054970; and
WHEREAS, the Developer has applied to rezone the Developer’s Property pursuant to Rezoning Application #Z23-063, which is currently pending Columbus City Council approval as Ordinance No. 2921-2024 (the “New Rezoning”); and
WHEREAS, the development proposed under the New Rezoning is more substantial and will require more substantial regional improvements than those contemplated under the Hayden Run II MOU; and
WHEREAS, the City and the Developer desire to terminate the Hayden Run II MOU and execute a new agreement affirming updated PAWG commitments and obligations pursuant to the New Rezoning; and
WHEREAS, the purpose of the PAWG Agreement is to align sufficient, satisfactory Regional Improvements with planned and balanced development in the Northwest Pay As We Grow Area; and NOW THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the Director of the Department of Development or his or her designee (the “Director”), on behalf of the City, is hereby authorized to terminate the Memorandum of Understanding with Dominion Homes, Inc. dated January 24, 2007 (the “Hayden Run MOU II”) and enter into a Pay As We Grow Agreement with Western Property LLC (the “PAWG Agreement”), along with any changes or amendments thereto not inconsistent with this Ordinance and not substantially adverse to the City and which shall be approved by the Director and the City Attorney, provided that the approval of such changes and amendments thereto, and the character of those changes and amendments not being substantially adverse to the City, shall be evidenced conclusively by the execution and delivery of the Amendment. The PAWG Agreement shall include Developer commitments to: 1) support the inclusion of the Developer’s Property within one or more Tax Increment Financing (TIF) Districts to be established by the City in accordance with Ohio Revised Code (“R.C.”) 5709.40; 2) make one-time per unit contributions of up to $1,700 for up to the maximum number of 2,050 units constructed, which may be reduced for credit given to account for land conveyances and regional improvements; and 3) take all necessary steps to establish the Jameson Estates Community Development District in accordance with R.C. Chapter 349 (the “Authority”). The Developer shall encumber the Developer Property with a Declaration of Covenants and Restrictions (the “Declaration”) for the District that shall require each current and future owner of all or any portion of the Developer Property to pay an annual Community Development Charge, as such term is defined in Section 349.01 of the Ohio Revised Code, to the Authority in an amount of no less than 0.004 multiplied by the "Assessed Value" of such property for a minimum period of twenty (20) years commencing one (1) year after the date of completion of the construction of each residential structure (as evidenced by a Certificate of Occupancy). Within ninety days of the execution of the Pay as We Grow Agreement, the Developer will take all necessary steps to establish the Authority, including, without limitation, filing a petition with the Clerk of Council
Section 2. That this ordinance shall take effect and be in force from and after the earliest period allowed by law.