Explanation
BACKGROUND:
Community Reinvestment Areas have been designated by Columbus City Council under the general guidelines of Resolution No. 1698-78. Such areas allow for the granting of real property tax incentives to encourage industrial, commercial and residential growth.
This resolution will amend the existing Old State Road Community Reinvestment Area created under Resolution No. 38X-94 to include the area from Lazelle Rd. at Arnold Pl., north following the Columbus City boundary generally north and east to Worthington Rd., then southwest along the city boundary to Lazelle Rd., then west along Lazelle Rd. to Arnold Pl. This amendment will also increase the real property incentive to a maximum of one hundred percent (100%) for a period of fifteen (15) years.
FISCAL IMPACT:
No funding is required for this resolution.
Title
To authorize the Director of Development to amend the existing Old State Road Community Reinvestment Area as established by Sections 3735.65 to 3735.70 of the Ohio Revised Code; and to declare an emergency.
Body
WHEREAS, City Council desires to pursue all reasonable and legitimate incentive measures to assist in encouraging housing maintenance and economic and community development; and
WHEREAS, Resolution No. 1698-78 approved August 3, 1978, authorized the Department of Development to implement a Community Reinvestment Program, pursuant to Section 3735.65 to 3735.70 of the Ohio Revised Code, and approved certain administrative procedures for the program; and
WHEREAS the Department of Development has received a proposal from a business which has an interest in developing property east of the existing Old State Road Community Reinvestment Area, and receiving real property tax exemption benefits of the Community Reinvestment Area; and
WHEREAS, the proposed site and its immediate vicinity have been surveyed and has been found to meet the criteria for designation of a Community Reinvestment Area; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development in that it is immediately necessary to designate the amended Old State Road Community Reinvestment Area in order to preserve the public health, peace, property, safety and welfare; now, therefore,
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the Old State Road area has successfully met the criteria for designation as a Community Reinvestment Area.
Section 2. That the boundaries of the amended Old State Road area has as described in "Exhibit A" attached hereto and incorporated herein by reference.
Section 3. That within the Old State Rd. Area tax exemption for improvements to real property as described in Section 3735.67 of the Ohio Revised Code will be granted for the following periods:
a. 100% abatement not exceeding 15 years for the construction of every nonretail, nonhotel and nonresidential business or industrial structure as described in Section 3735.67 of the Ohio Revised Code. For purposes of clarification, eleemosynary structures are not considered to be commercial or industrial.
Section 4. That reference is hereby made to Resolution No. 1698-78, adopted by City Council on August 3, 1978 as to designation of the Housing Officer and establishment of a Community Reinvestment Area Housing Council for the amended Old State Road Community Reinvestment Area.
Section 5. That a copy of this resolution will be forwarded to the Delaware and Franklin County Auditors by the Columbus City Clerk for information and reference and will be published in a newspaper of general circulation once a week for two consecutive weeks following its passage and approval.
Section 6. That City Council reserves the right to re-evaluate the designation of the Old State Road Community Reinvestment Area after December 31, 2012, at which time Council may direct the Housing Officer not to accept any applications for exemptions as described in Section 3735.67 of the Ohio Revised Code.
Section 7. That for reasons stated in the preamble hereto, which is hereby made a part hereof, this Resolution is hereby 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.