Explanation
Background: In response to a petition from Jeffrey Place Development LLC, this Council by its Resolution No. 050X-2004 passed on March 8, 2004, approved the creation of The Jeffrey Place New Community Authority (the "Authority") and must make initial appointments to its Board of Trustees and establish a method for selection of successor members of the Authority's Board of Trustees.
In order to support the redevelopment of the former Jeffrey Mining Site, this Council also passed Ordinances No. 0546-02 on April 8, 2002 (the ".41 TIF Ordinance") and No. 1608-02 on October 28, 2002 (the ".40 TIF Ordinance", together with the .41 TIF Ordinance, the "TIF Ordinances"), each declaring as a public purpose improvements to parcels of certain real property located on the former Jeffrey Mining Site (the "Redevelopment Area", as described and depicted in the .41 TIF Ordinance). Each TIF Ordinance provides for a 100% TIF on development within its TIF Area for a period of not more than thirty (30) years, with payments to the Columbus City School District in the amount of real property taxes that School District would have received. The remaining annual service payments in lieu of taxes received in respect of development within each TIF Area will be paid into the Jeffrey Place Urban Redevelopment Tax Increment Equivalent Fund (the ".41 TIF Fund") created by the .41 TIF Ordinance and the Municipal Public Improvement Tax Increment Equivalent Fund created by the .40 TIF Ordinance (the ".40 TIF Fund", together with the .41 TIF Fund, the "TIF Fund") to fund certain public improvements supporting the redevelopment of the former Jeffrey Mining Site, all as previously identified in each TIF Ordinance.
The attached ordinance appoints three (3) citizen members and one (1) local government representative member to serve on the Authority's Board of Trustees, establishes a method for selection of successor members of the Authority's Board of Trustees, and approves and authorizes a Tax Increment Financing and Cooperative Agreement (the "Agreement") by and among the City, the Authority and the Developer, to implement funding of public improvements in support of the redevelopment by assigning the service payments collected pursuant to each TIF Ordinance to the Authority to pay costs incurred in connection with the construction of the public improvements.
Fiscal Impact: The City has foregone the real property tax revenue that it would have received in respect of development within the TIF Area. Instead, that revenue has been diverted to each TIF Fund, and will be applied and distributed pursuant to the Agreement to promote the further redevelopment of the TIF Area. No funding is required for the appointment of Trustees.
Title
To appoint three (3) citizen members and one (1) local government representative member to serve on the Board of Trustees of The Jeffrey Place New Community Authority; to establish a method for selection of successor members of the Authority's Board of Trustees; and to approve and authorize the Director of Development to execute a Tax Increment Financing and Cooperative Agreement in support of the redevelopment and revitalization of the former Jeffrey Mining Site and to declare an emergency.
Body
WHEREAS, this Council on March 8, 2004 adopted Resolution No. 050X-2004 (the "NCA Resolution"), which authorized the creation of The Jeffrey New Community Authority with a seven (7) member Board of Trustees pursuant to Chapter 349 of the Revised Code; and
WHEREAS, pursuant the NCA Resolution, this Council is to appoint to the Authority's Board of Trustees three (3) citizen members (collectively, together with their appointed successors, the "Appointed Citizen Members") representing the present and future residents of the Authority's new community district (the "District"), and one (1) member to serve as a representative of local government (collectively, together with all appointed successors, the "Appointed Local Government Member"); and
WHEREAS, coincident with the City's initial appointment of the Appointed Citizen Members and the Appointed Local Government Member, Concorde Capital Corporation intends to appoint to the Board of Trustees three (3) members to serve as representatives of the Developer (collectively, together with their appointed successors, the "Appointed Developer Members"); and
WHEREAS, pursuant to Section 349.04 of the Revised Code, this Council is to establish a method for selection of successor members of the Authority's Board of Trustees; and
WHEREAS, pursuant to Ohio Revised Code Sections 5709.40, 5709.41, 5709.42 and 5709.43, this Council passed Ordinance No. 0546-02 on April 8, 2002 (the ".41 TIF Ordinance") and Ordinance No. 1608-02 on October 28, 2002 (the ".40 TIF Ordinance," together with the .41 TIF Ordinance, the "TIF Ordinance"), each declaring improvements to parcels of certain real property located in the City (as described and depicted in each TIF Ordinance and referred to therein as the "Property") to be a public purpose, exempting those improvements from real property taxation for a period of time, specifying certain public infrastructure improvements (as described in each TIF Ordinance and referred to therein as the "Public Improvements") to be made to benefit those parcels, providing for the making of service payments in lieu of taxes (the "Service Payments") by the owner(s) thereof, providing for payments to the Columbus City School District in the amount of the real property taxes that School District would have been paid if the improvements had not be exempted from taxation pursuant to each TIF Ordinance, and each TIF Ordinance establishing a tax increment equivalent fund into which the remaining Service Payments are to be deposited; and
WHEREAS, in connection with the redevelopment and revitalization of the Property, this Council now desires to authorize the execution of a tax increment financing and cooperative agreement by and among the City, The Jeffrey New Community Authority, National Community Builders, Inc. (as successor to Concorde Capital Corporation and parent of Waterford Limited Partnership and Green Arbors Housing Limited Partnership), to provide for the payment and assignment of Service Payments collected by the City in respect of the TIF Area; and NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the following Two (2) Appointed Citizen Members are hereby each appointed to The Jeffrey New Community Authority District Board of Trustees to serve a One (1) year term ending July 31, 2007:
Alicia Lein
1668 Moreland Drive
Columbus, Ohio 43220
Judy Doll
1096 Wyandotte Road
Columbus, Ohio 43212
Section 2. That the following Appointed Citizen Member is hereby appointed to The Jeffrey New Community Authority District Board of Trustees to serve a Two (2) year term ending July 31, 2008:
Judith A. Lane
687 Kerr Street
Columbus, Ohio 43215
Section 3. That the following Appointed Local Government Member is hereby appointed to The Jeffrey New Community Authority District Board of Trustees to serve a Two (2) year term ending July 31, 2008:
William P. Webster
109 N. Front Street
Columbus, Ohio 43215
Section 4. That the projected total population of the District is 4,000 (the Projected Total Population).
Section 5. That the Appointed Citizen Members shall be replaced by members elected to the Authority's Board of Trustees pursuant to this Ordinance and Section 349.04 of the Revised Code (collectively, together with the members elected to replace the Appointed Developer Members and the Appointed Local Government Member, the Elected Members) in accordance with the following schedule:
a. One Elected Member shall be elected to replace an Appointed Citizen Member on the first Election Date (as hereinafter defined) which occurs after the population of the District equals one-sixth (1/6) of the Projected Total Population.
b. A second Elected Member shall be elected to replace an Appointed Citizen Member on the first Election Date which occurs after the population of the District equals one-third (1/3) of the Projected Total Population.
c. A third Elected Member shall be elected to replace an Appointed Citizen Member on the first Election Date which occurs after the population of the District equals one-half (1/2) of the Projected Total Population.
Section 6. That Appointed Developer Members shall be replaced by Elected Members in accordance with the following schedule:
a. One Elected Member shall be elected to replace an Appointed Developer Member on the first Election Date which occurs after the population of the District equals one-third (1/3) of the Projected Total Population.
b. A second Elected Member shall be elected to replace an Appointed Developer Member on the first Election Date which occurs after the population of the District equals two-thirds (2/3) of the Projected Total Population.
c. A third Elected Member shall be elected to replace an Appointed Developer Member on the first Election Date which occurs after the population of the District equals the whole of the Projected Total Population.
Section 7. That an Elected Member shall be elected to replace the Appointed Local Government Member on the first Election Date which occurs after the population of the District equals three-quarters (3/4) of the Projected Total Population.
Section 8. That, as used in this Ordinance, "Election Date" means the election date set forth in Section 349.04 of the Revised Code. The Authority's Board of Trustees shall annually determine, not more than one hundred forty (140) and not less than one hundred ten (110) days prior to the Election Date, the population of the District, and shall certify that population to this Council on or before one hundred ten (110) days prior to that Election Date. This Council shall designate which of the Appointed Citizen Members shall be replaced by each Elected Member elected pursuant to Section 2 of this Ordinance, and the Developer shall designate which of the Appointed Developer Members shall be replaced by each Elected Member elected pursuant to Section 3 of this Ordinance. Each Elected Member shall be elected to a two (2) year term. In designating the appointed members to be replaced by Elected Members, this Council and the Developer, so far as reasonably possible, shall make designations that result in the election of four Elected Members and three Elected Members in alternating years after all members are Elected Members.
Section 9. That, unless otherwise provided in this Ordinance or Chapter 349 of the Revised Code, Elected Members shall be nominated, elected and shall qualify for and assume office at the times, in the manner and under the procedures, and subject to the limitations, provided for members elected at large to a board of education of a city school district; provided, however, that (a) nominating petitions for Elected Members shall be filed with the applicable County board of elections not later than 4:00 p.m. on the seventy-fifth day prior to the Election Date, and (b) each candidate for Elected Member and each Elected Member shall be and remain a qualified elector residing within the District, and no Elected Member shall be an employee of or have a financial interest in the Developer.
Section 10. That until such time as all Appointed Citizen Members and the Appointed Local Government Member are replaced by Elected Members, this Council shall appoint or reappoint, as appropriate, such Appointed Citizen Members and the Appointed Local Government Member; and until such time as all Appointed Developer Members are replaced by Elected Members, the Developer shall appoint or reappoint, as appropriate, the Appointed Developer Members. Pursuant to Section 349.04 of the Revised Code, all members of the Authority's Board of Trustees appointed pursuant to this Section 7 shall be appointed to two (2) year overlapping terms; provided that, notwithstanding any other provision of this Ordinance, the term of any Appointed Citizen Member, Appointed Local Government Member or Appointed Developer Member shall end upon the due qualification for and assumption of office by an Elected Member duly elected to replace that appointed member, all as provided herein and in Section 349.04 of the Revised Code. The appointments of Appointed Developer Members, including any necessary designations of terms, shall be in writing and filed with the Clerk of this Council within ten (10) days after they are made. No Appointed Citizen Member shall be an employee of or have a financial interest in the Developer.
Section 11. That, pursuant to Section 349.04 of the Revised Code, each member of the Authority's Board of Trustees, before entering upon their official duties, shall take and subscribe to an oath before an officer authorized to administer oaths in Ohio that the member will honestly and faithfully perform the duties of their office. That oath shall be filed in the office of the Clerk of this Council. Each member of the Authority's Board of Trustees shall also post a bond for the faithful performance of their duties and give surety therefor in an amount not less than Ten Thousand Dollars ($10,000). The bond shall be with a company authorized to conduct business within the State of Ohio as a surety and shall be deposited with and preserved by the City of Columbus Auditor.
Section 12. That the Tax Increment Financing and Cooperative Agreement (the "Agreement") by and among the City, The Jeffrey New Community Authority, and National Community Builders, Inc. and its affiliates Waterford Limited Partnership and Green Arbors Housing Limited Partnership, in the form presently on file with the Director of Development, providing for, among other things, the collection and assignment of the Service Payments, is hereby approved and authorized. The Director of Development, for and in the name of this City, is hereby authorized to execute that Agreement. This Council further hereby authorizes and directs the City Auditor, the City Attorney, the Director of Development, and the Clerk of Council, or other appropriate officers of the City, to make such arrangements as are necessary and proper for collection, receipt and application of those Service Payments as provided in each TIF Ordinance and that Agreement.
Section 13. That the Service Payments deposited in either TIF Fund shall be deemed appropriated for the purposes set forth in the respective TIF Agreement and are hereby authorized to be expended therefrom in accordance with the respective TIF Agreement, and the City Auditor is hereby authorized to make payments from the TIF Funds upon receipt of invoice(s) approved by the Director of Development.
Section 14. This Ordinance may be amended and supplemented by this Council.
Section 15. That this ordinance shall take effect and be in force from and after the earliest period allowed by law. That for the 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.