Explanation
BACKGROUND: The Stonehenge Company (the "Developer") is or will be the owner of approximately 3.68 acres of property located at 5420 North Hamilton Road (the "Developer Property") within the Northeast area of the Columbus program to Pay As We Grow (“PAWG”) and Grow with a Plan. The original owner of Developer Property, Norma F. Connett, applied for Type I annexation into the City of Columbus. Developer has applied for the rezoning of the Developer Property for the purpose of allowing commercial development. The City, the Developer and Norma F. Connett desire to enter into the Memorandum of Understanding (“MOU”) for the fulfillment of PAWG requirements.
In following the City's PAWG policy for the Northeast Area, the Developer shall make a total contribution in the form of cash payments to Columbus in the amount of $2,300.00 multiplied by the number of residential units constructed on the Developer Property, should residential development end up occurring. If residences are built, Developer or its successor will be subject to standard Department of Development procedures for the applicable per residential unit payments.
For residential development (if any) and for commercial development, Developer agrees to add Developer Property into the existing community development district in the Northeast PAWG area. Within sixty days of the execution of the MOU, Developer will encumber the Developer Property with a Declaration of Covenants and Restrictions for the Central College Community Development District (the "CCCDD Covenants"), subject to acceptance of the Developer Property within the CCCDD by the Central College Community Development Authority (the “CCCDA”). The CCCDD Covenants shall run with the land and shall require each current and future owner of all or any portion of the Developer Property to pay an annual Community Development Charge, as such term is defined in Section 349.01 of the Ohio Revised Code, to the CCCDA in an amount equal to 0.004 multiplied by the "Assessed Value" of such property for a period of twenty (20) years commencing one (1) year after the date of completion of the construction of the residential structures (as evidenced by a Certificate of Occupancy). Within ninety days of the execution of the MOU, the Developer will take all necessary steps to include the Developer Property in the Central College Community Development Authority, including, without limitation, filing with the Columbus City Council a petition for the inclusion of Developer Property within said Authority on the basis described above.
The Department of Development is requesting this ordinance to be considered an emergency measure in order to allow for immediate execution of the MOU which is necessary to facilitate implementation of the PAWG requirements.
FISCAL IMPACT: No funding is required for this legislation.
Title
To authorize the Director of Development to enter into a Memorandum of Understanding with the Stonehenge Company and with Norma F. Connett for fulfillment of Northeast Pay As We Grow requirements for property located at 5420 North Hamilton Road; and to declare an emergency.
Body
WHEREAS, the Stonehenge Company (the "Developer") is or will be the owner of approximately 3.68 acres of property located at 5420 North Hamilton Road (the "Developer Property") within the Northeast area of the City’s program to Pay As We Grow (“PAWG”); and
WHEREAS, the original owner of Developer Property, Norma F. Connett, applied for Type I annexation into the City; and
WHEREAS, the Developer has applied for the rezoning of the Developer Property for the purpose of allowing commercial development, and
WHEREAS, the Developer and Norma F. Connett agree to comply with the requirements of the PAWG policy of the City and have therefore executed a Memorandum of Understanding ("MOU") to that effect; and
WHEREAS, an emergency exists in the usual daily operation of the City in that it is immediately necessary for the Director of Development to enter into the MOU with the Stonehenge Company and Norma F. Connett in order to facilitate the implementation of the City's policy, all for the preservation of the 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 is hereby authorized to enter into a Memorandum of Understanding (“MOU”) with the Stonehenge Company (the "Developer") and with Norma F. Connett for fulfillment of Northeast Area Pay as We Grow requirements for the Developer Property and take all actions necessary to implement this MOU.
SECTION 2. That the Developer shall make a total contribution in the form of cash payments to the City in the amount of $2,300.00 multiplied by the number of residential units constructed on the Developer Property.
SECTION 3. That the Developer will take the necessary steps to place Developer Property within the Central College Community Development District such that each current and future owner shall be required to pay for a period of twenty (20) years an annual Community Development Charge, as such term is defined in Section 349.01 of the Ohio Revised Code, in an annual mount equal to 0.004 multiplied by the “Assessed Value” of such property.
SECTION 4. 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.