Explanation
Background: Pursuant to the Big Darby Accord Watershed Master Plan and Resolution 0216X-2008 adopted by Columbus City Council on April 20, 2009, three revenue generation sources were identified: tax increment financing (TIF), new community authority (NCA) development charges, and per unit developer contributions for Big Darby Accord public improvements and other regionally beneficial public improvements within the Big Darby Accord area (the “Big Darby Revenue Program”). Redwood USA, LLC (the “Developer”) applied for rezoning (Rezoning Application #Z22-016) and received approval from the Development Commission on August 11, 2022 to rezone property along the east side of Alton Darby Creek Road between W. Broad Street and the Norfolk Southern railroad within the Big Darby Accord area and generally located at 400 Alton Darby Creek Road (tax parcel ID: 470-291522-00, known as the “Developer Property”). The Developer intends to purchase ±42.219 out of 55.28 acres currently owned by Cypress Wesleyan Church and intends to privately invest approximately $28,000,000.00 to construct two hundred twenty-five (225) multi-family units and private improvements (the “Development”). Consistent with Ordinance No. 2636-2022 passed by City Council on October 10, 2022 to rezone it for the Development, the Developer Property is subject to the requirements of the Big Darby Revenue Program. This legislation authorizes the Director of the Department of Development to enter into an agreement (the “Big Darby Development Agreement”) with the Developer to outline the plans and respective commitments of the City and Developer for the fulfillment of Big Darby Revenue Program requirements in relation to the Developer Property and the Development.
Fiscal Impact: No funding is required for this legislation.
Title
To authorize the Director of the Department of Development to enter into a Big Darby Development Agreement with Redwood USA, LLC (the “Developer”) to outline the plans and commitments of the City and the Developer for an approximately ±42.219-acre portion of parcel 470-291522-00 to be split for the Developer and located at approximately 400 Alton Darby Creek Road, which said property is subject to the Big Darby Revenue Program requirements in the Big Darby Accord Watershed Master Plan.
Body
WHEREAS, pursuant to the Big Darby Accord Watershed Master Plan and Resolution No. 0216X-2008 adopted by Columbus City Council on April 20, 2009, three revenue generation sources were identified: tax increment financing (TIF), new community authority (NCA) development charges, and per unit developer contributions for Big Darby Accord public improvements and other regionally beneficial public improvements within the Big Darby Accord area (the “Big Darby Revenue Program”); and
WHEREAS, Redwood USA, LLC (the “Developer”) applied for rezoning (Rezoning Application #Z22-016) and received approval from the Development Commission on August 11, 2022 to rezone property from R (Rural District) to L-AR-12 (Limited Apartment Residential District) along the east side of Alton Darby Creek Road between W. Broad Street and the Norfolk Southern railroad within the Big Darby Accord area and generally located at 400 Alton Darby Creek Road (tax parcel ID 470-291522-00, known as the “Developer Property”); and
WHEREAS, the Developer intends to purchase ±42.219 out of 55.28 acres of real property currently owned by Cypress Wesleyan Church encompassing the Developer Property and intends for a private investment of approximately $28,000,000.00 to construct two-hundred twenty-five (225) multi-family units and private improvements (the “Development”); and
WHEREAS, consistent with the Big Darby Accord Watershed Master Plan and Ordinance No. 2636-2022 passed by City Council on October 10, 2022, the Developer Property is subject to the requirements of the Big Darby Revenue Program; and
WHEREAS, the Developer and the City agree that the Developer’s participation in funding the Bid Darby Revenue Program will assist and benefit the City in planning, designing, and constructing regionally beneficial public improvements and Big Darby Accord public improvements in the Bid Darby Accord quadrant of Franklin County that includes the Developer Property; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the Director of the Department of Development (the “Director”), or his or her designee, on behalf of the City, is authorized to enter into the Big Darby - Redwood Development Agreement presently on file with the Department of Development (the “Agreement”), along with any changes or amendments thereto not inconsistent with this Ordinance and not substantially adverse to the City and which shall be approved by the Director and the City Attorney; provided that the approval of such changes and amendments are not substantially adverse to the City, which shall be evidenced conclusively by the execution of the Agreement that it outlines the plans and certain commitments of the City and the Developer relating to the Big Darby Revenue Program for the proposed Development on the Developer Property.
SECTION 2. This ordinance shall take effect and be in force from and after the earliest date permitted by law.