Explanation
BACKGROUND:
Ordinance 1292-2012, passed June 18, 2012, created the Short North Community Reinvestment Area (CRA). Subsequent to the passage of this ordinance, an additional project that would benefit from the CRA came forward and the CRA has been expanded to include this project. In addition, it was determined that the payment of the forgone taxes in years 11-15 on new construction properties to the City rather than allowing the benefit to continue to the property owner was not advantageous for the goals of the CRA. Therefore, the CRA is being amended to allow for a full 15 year 100% abatement without payments to the City.
Emergency action is being requested so that this correction can take effect as soon as possible in order to coincide with the original ordinance's initial implementation.
FISCAL IMPACT:
No funding is required for this legislation.
Title
To amend Ordinance 1292-2012, passed June 18, 2012, amending Short North Community Reinvestment Area for the purpose of expanding the CRA to accommodate an additional project and to permit a full 15 year 100% abatement on new construction projects within the CRA; and to declare an emergency. (AMENDED BY ORD. 1282-2014 PASSED 6/9/2014)
Body
WHEREAS, Ordinance 1292-2012, passed June 18, 2012, created the Short North Community Reinvestment Area (CRA); and
WHEREAS, following the passage of Ordinance 1292-2012, an additional project that would benefit from the CRA came forward and requested to participate in the benefits the CRA provides; and
WHEREAS, it was determined that the payment of forgone taxes to the City in years 11-15 of the abatement would not be advantageous for the goals of the CRA and that a full 15 year 100% abatement would better encourage desired development within the CRA; and
WHEREAS, an emergency exists in the usual daily operations of the Department of Development in that it is immediately necessary to amend the CRA and to authorize real property tax exemptions as established in the Ohio Revised Code, to allow for multiple renovation and construction projects to be included in the CRA while under construction, thereby preserving the public health, property, peace, safety, and welfare; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That Section 1 of Ordinance is hereby amended to read as follows.
Section 1. The area depicted in Exhibit B (as revised) constitutes an area in which housing facilities or structures of historical significance are located.
Section 2. That Section 2 of the Ordinance is hereby amended to read as follows:
Section 2. Pursuant to ORC Section 3735.66, The Short North Community Reinvestment Area boundary is hereby established in the following described area:
North: Bounded by Fifth Avenue (between Neil Avenue and Fourth Street, excluding properties on the north side of Fifth Avenue)
West: Bounded by Neil Avenue (excluding properties on the west side of Neil Avenue)
South: Bounded by Buttles Avenue, (excluding rear property lines south of Buttles), continuing south along Park Street, east along Brickle Street (excluding the rear property lines on the south side of Brickle Street), continuing east along Brickle Street (including property lines south of Brickle Street) and then east intersecting with the south end of Hamlet Street and continuing east to Fourth Street.
East: Bounded by Fourth Street (excluding property lines east of Fourth Street)
The Community Reinvestment Area is approximately depicted as the area on the map marked Exhibit B (as revised), attached to this Ordinance; on the list of parcel numbers marked Exhibit C (as revised), and by this reference incorporated herein.
Only properties consistent with the applicable zoning regulations and variances thereto within the designated Community Reinvestment Area will be eligible for exemptions under this Program. For purposes of ORC Sections 3735.65 to 3735.70, rental housing, including without limitation rental housing located in a structure containing multiple residential housing units, is classified as residential.
Section 3. That Section 5 of the Ordinance is hereby deleted and subsequent sections are renumbered accordingly.
Section 4 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.