Explanation
BACKGROUND: The purpose of this ordinance is to give the Director of the Department of Development the authority to enter into the American Addition Neighborhood Economic Development Agreement (EDA) with Central Ohio Housing Development Organization (also known as COHDO) for the redevelopment of the American Addition. The EDA outlines various actions and associated agreements required for the completion of the American Addition redevelopment project. Execution of the EDA will be followed by subsequent legislation to authorize portions of the EDA to be implemented.
The American Addition is located in the northeast quadrant of the City and is bounded on the north by the alley north of 12th, on the south by Dolphin Alley, on the east by Petrel and Helena Alleys and on the west by Joyce Avenue. Both COHDO and its affiliate Columbus Housing Partnership have worked extensively with American Addition residents to ensure the proposed development complements the neighborhood and area plans to construct over 100 residential units. Over 100 vacant parcels have been purchased to date. The private investment is estimated at $12 to $22 million.
Under the EDA, subject to passage of future ordinances, the City commits to constructing street and utility improvements benefiting the area and the project in the amount of $10 million. The boundaries of the Linden Community Reinvestment Area have been expanded to include the American Addition allowing for a 100% tax exemption for 10, 12 and 15 years, depending on the type of unit.
FISCAL IMPACT: There are no immediate costs to the City of Columbus associated with the EDA. Future legislation will be submitted to authorize design and construction contracts totaling $10 million.
EMERGENCY JUSTIFICATION: This legislation is submitted as an emergency to facilitate subsequent legislation required to move the project forward.
Title
To authorize the Director of Development to enter into the American Addition Neighborhood Economic Development Agreement with Central Ohio Housing Development Organization; and to declare an emergency. (AMENDED BY ORDINANCE 1976-2011 PASSED 12/05/2011)
Body
WHEREAS, the City of Columbus desires to enter into the American Addition Neighborhood Economic Development Agreement, ("EDA") with Central Ohio Housing Development Organization detailing actions required to redevelop the American Addition Neighborhood; and
WHEREAS, Execution of the EDA will be followed by subsequent legislation to authorize portions of the EDA to be implemented; and
WHEREAS, the EDA states COHDO and CHP investment ranging from $12 to 22 million and the public investment in infrastructure committed at $10 million; and
WHEREAS, an emergency exists in the usual daily operation of the City of Columbus in that it is immediately necessary to enter into this agreement with COHDO to facilitate subsequent legislation required to move the project forward, all for the preservation of public health, peace, property, safety and welfare; now, therefore,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the Director of Development be authorized to enter into the EDA with Central Ohio Housing Development Organization, regarding the redevelopment of the American Addition Neighborhood.
Section 2. That for 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 passage if the Mayor neither approves nor vetoes the same.