Explanation
Background: Council, by its Ordinance No. 2117-2005 passed on December 12, 2005, approved the creation of ten tax increment financing districts (the "Incentive Districts") to provide funding for public infrastructure improvements in the northeast area of the City. That legislation provides that the owners of relevant real property are required to make payments in lieu of real property taxes which are to be distributed to relevant school districts and to designated tax increment equivalent funds. Payments in lieu of taxes that are deposited into the tax increment equivalent funds are to be used at the direction of the City for the purpose of funding the public infrastructure improvements identified in the legislation.
The Kroger Co. (the "Developer") has made application to the City for the rezoning of a portion of its property located at 5167 New Albany Road to permit the development of a gasoline sales use in association with the operation of an existing grocery store. In conjunction with this application, there has been recognition that the intersection nearest to the proposed development, at New Albany Road and Fodor Road, requires improvements, including but not limited to the construction of a roundabout, that would serve a benefit to the northeastern area of the City.
The City has also been considering supplementing the projects and types of infrastructure improvements allowed under Exhibit C attached to Ordinance 2117-2005 in order to add some other projects and to more generally broaden the categories of eligible projects.
This ordinance will amend Exhibit C attached to Ordinance 2117-2005 to add to the list of public infrastructure improvements that may be funded from payments in lieu of taxes that are collected from the Incentive Districts. The amended exhibit is attached hereto as Supplemented Exhibit C.
Emergency action is requested to avoid a harmful delay in the development process.
Fiscal Impact: The City previously has foregone the real property tax revenue that it would have received from development within certain portions of the northeast area of the municipality. Instead, that revenue has been diverted to the various Tax Increment Equivalent Funds held by the City. That revenue has been and will continue to be used to pay for future public improvements benefiting the northeast area of the City.
Title
To amend Exhibit C attached to Ordinance No. 2117-2005 to add various improvements and types of improvements to the list of public infrastructure improvements that may be funded from payments in lieu of taxes that are collected from the various tax increment financing districts that were created pursuant to that legislation; and to declare an emergency.
Body
WHEREAS, pursuant to Ohio Revised Code Sections 5709.40, 5709.42 and 5709.43, this Council by its Ordinance No. 2117-2005 passed on December 12, 2005 (the "TIF Ordinance"), approved the creation of ten tax increment financing districts to provide funding for public infrastructure improvements in the northeast area of the City by exempting from taxation the Improvements (as that term is defined in Ohio Revised Code Section 5709.40) to certain parcels of real property in that area (the " Property"), requiring the owners of the Property to make service payments in lieu of taxes and designating the types of public improvements to be made to benefit the Property; and
WHEREAS, Section 6 of Ordinance 2117-2005 allows for a procedure whereby Exhibit C can be modified or supplemented by ordinance in this manner, without having to amend Ordinance 2117-2005 itself; and
WHEREAS, the City perceives the need to supplement the public infrastructure improvements that will benefit the northeast quadrant of the City; and
WHEREAS, the City desires to amend and supplement Exhibit C attached to Ordinance No. 2117-2005 in order to add improvements to the list of public infrastructure improvements that may be funded from payments in lieu of taxes that are collected from the various tax increment financing districts that were created pursuant to that legislation; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development in that it is immediately necessary to amend said ordinance exhibit to avoid a harmful delay in the development process, all for the preservation of the public health, peace, property, safety and welfare; and NOW THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That Exhibit C which is attached to Ordinance No. 2117-2005 hereby is amended and supplemented to include the public infrastructure improvements on the attached Supplemented Exhibit C in order to add improvements to the list of public infrastructure improvements that may be funded from payments in lieu of taxes that are collected from the various tax increment financing districts that were created pursuant to that legislation.
Section 2. That for reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance 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.