Explanation
BACKGROUND: This request is being made due to a unique, one-time delay in the City’s receipt of property tax and PILOT settlements resulting from technology system challenges at the Franklin County Treasurer’s Office. As a result, the timing of these settlements is expected to shift to late May. The City is seeking authorization for the City Auditor to request and receive Payments in Lieu of Taxes (PILOT) revenues associated with certain Tax Increment Financing (TIF) districts, which are scheduled to be paid on or about May 1 and May 15 pursuant to existing agreements.
EMERGENCY DESIGNATION: Emergency Action is being requested so that the City can request and receive PILOT revenues to make payment deadlines pursuant to existing agreements.
FISCAL IMPACT: Payments in Lieu of Taxes (PILOT) revenues will be used to meet payment obligations pursuant to the City’s applicable Tax Increment Financing (TIF) agreements. Any funds not immediately required for these obligations may be invested in accordance with the City’s investment policies.
Title
To authorize the City Auditor to request advance payments for Payment in Lieu of Taxes (PILOT) revenues from the Franklin County Auditor during 2026 and to declare an emergency. ($0.00)
Body
WHEREAS, it has been the custom of the City of Columbus to have the City Auditor handle requests for advance or anticipated revenues to support the City’s cash flow needs; and
WHEREAS, due to unique delays resulting from technology system challenges at the Franklin County Treasurer’s Office, the City’s typical property tax settlements are expected to be delayed, with anticipated receipt now projected for late May; and
WHEREAS, the City is expected to receive certain Payments in Lieu of Taxes (PILOT) revenues from Franklin County Tax Increment Financing (TIF) districts pursuant to existing agreements, with scheduled payments on or about May 1 and May 15; and
WHEREAS, an emergency exists in the usual daily operation for the City of Columbus in that the Franklin County Auditor has advised the City Auditor that it is necessary to pass a resolution by City Council, as required by Chapter 321 of the Ohio Revised Codes, authorizing advance payment requests for certain of the City’s PILOT revenues, thereby preserving the public health, peace, property, safety, financial stability and welfare; NOW, THEREFORE
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the City Auditor is hereby authorized and directed to request and receive Payments in Lieu of Taxes (PILOT) revenues from Franklin County associated with applicable Tax Increment Financing (TIF) districts, in accordance with applicable agreements and laws, during fiscal year 2026.
SECTION 2. That for the reasons stated in the preamble hereto which is 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.