Explanation
Background: WestBend QOZB, LLC (the “Developer”), an affiliate of Thrive Companies LLC, and the City entered into the Economic Development Agreement dated April 19, 2024, as amended by the First Amendment to Economic Development Agreement dated August 19, 2026 (together, the “EDA”), pursuant to Ordinance No. 1866-2023 passed by City Council on July 31, 2023 and Ordinance No. 1511-2026 passed by City Council on June 22, 2026. The EDA provides for the mutual commitments and obligations made towards the former Buckeye Auto Parts brownfield site consisting of approximately 50.28 acres of the real property at the southwest, southeast, and northeast, corners of the intersection of Fisher Road and McKinley Avenue and between the New York Central Railroad to the west and the Scioto River to the east (the “Site”). The Developer intends to invest nearly $200 million and privately develop in multiple phases approximately 895 apartment units (including affordable housing units), up to 8,000 square feet of retail, off-street surface parking, and appropriate associated amenities. The City committed in the EDA to form over the Site a tax increment financing area pursuant to R.C. Section 5709.40(B) (the “WestBend TIF”) and a new community authority pursuant to R.C. Chapter 349 (the “WestBend Community Authority”) to reimburse various development revenue bonds (the “Bonds”) issued by the WestBend Community Authority to pay for the costs of certain public infrastructure improvements described in the EDA. This Ordinance will authorize the tax increment financing and cooperative agreement (the “TIF Agreement”) between the City, the WestBend Community Authority, and the Developer to reimburse the WestBend Community Authority for the Bonds issued to pay the costs of the public infrastructure improvements described therein. This Ordinance will also appropriate and authorize the expenditure or transfer of the funds generated by the WestBend TIF in accordance with the TIF Agreement. This Ordinance will also authorize the utility cooperative agreement between the City, the WestBend Community Authority, and the Developer related to the ongoing operation and maintenance of water, sanitary sewer, and storm sewer infrastructure necessary for the redevelopment of the Site.
Emergency Justification: Emergency action is requested to immediately authorize the execution of the TIF Agreement and the utility cooperative agreement as the Developer’s lender is requiring the Developer to close on the apartment financing before the end of the month but the lender will not close unless the City first authorizes the TIF Agreement and utility cooperative agreement and without such financing the apartments may be delayed beyond the deadline in the EDA causing a loss of new housing units and construction jobs.
Fiscal Impact: The City is appropriating and authorizing the expenditure or transfer of funds deposited or to be deposited into the WestBend TIF Fund.
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To appropriate and authorize the expenditure or transfer of funds deposited or to be deposited in the WestBend TIF Fund pursuant to the following agreement; to authorize the Director of the Department of Development to enter into the Tax Increment Financing and Cooperative Agreement between the City, WestBend Community Authority, and WestBend QOZB, LLC to reimburse bonds issued by the WestBend Community Authority for the costs of public infrastructure improvements described thereunder benefiting WestBend QOZB, LLC’s development at the intersection of Fisher Road and McKinley Avenue; to authorize the Director of Columbus Water & Power to enter into the Utility Cooperative Agreement between the City, WestBend Community Authority, and WestBend QOZB, LLC related to the ongoing operation and maintenance of water, sanitary sewer, and storm sewer infrastructure for said development; and to declare an emergency. ($0.00)
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WHEREAS, WestBend QOZB, LLC (the “Developer”) owns or controls an approximately 50.28-acre site generally located at the southwest, southeast, and northeast, corners of the intersection of Fisher Road and McKinley Avenue and between the New York Central Railroad to the west and the Scioto River to the east (Franklin County Tax ID Parcel Nos.010-146253, 010-146234, 010-146278, 010-200913, 010-200912, 010-104705, and 010-104706, collectively the “Site”); and
WHEREAS, the Developer intends to invest nearly $200 million on the Site to construct approximately 895 apartment units (including affordable housing units), up to 8,000 square feet of retail, off-street surface parking, and appropriate associated amenities in three separate phases on the Site; and
WHEREAS, pursuant to Ordinance No. 1866-2023 passed by City Council on July 31, 2023 and Ordinance No. 1511-2026 passed by City Council on June 22, 2026, the Director of the Department of Development entered into with the Developer the Economic Development Agreement dated April 19, 2024, as amended by the First Amendment to Economic Development Agreement dated August 19, 2026 (together the “EDA”); and
WHEREAS, the EDA outlines the mutual plans and respective commitments of the City and the Developer to implement over the Site a new tax increment financing area pursuant to R.C. Section 5709.40(B) (the “WestBend TIF”) and a new community authority pursuant to R.C. Chapter 349 (the “WestBend Community Authority”) to finance certain public infrastructure improvements described in the EDA including, but not limited to public roads, utilities, parks, recreation and community centers, and acquisition of real estate for the foregoing (the “Public Infrastructure Improvements”); and
WHEREAS, the Developer has requested the WestBend Community Authority to issue various development revenue bonds (the “Bonds”) to pay for the Public Infrastructure Improvements associated with redeveloping the Site; and
WHEREAS, in order for the City to reimburse the Bonds issued to pay for the costs of the Public Infrastructure Improvements using the funds generated from the WestBend TIF (collectively, the “Service Payments”), the City, the WestBend Community Authority, and the Developer will enter into the Tax Increment Financing and Cooperative Agreement (the “TIF Agreement”); and
WHEREAS, pursuant to the TIF Agreement, the City is appropriating and authorizing the expenditure or transfer of the Service Payments; and
WHEREAS, the Public Infrastructure Improvements will include water, sanitary sewer, and storm sewer infrastructure for the Site that the WestBend Community Authority will coordinate the delivery of water and sanitary sewer services to the parcels within the Site pursuant to a master meter with the City; and
WHEREAS, the City, the WestBend Community Authority, and the Developer will enter into the Utility Cooperative Agreement (the “Utility Agreement”) related to the ongoing operation and maintenance of water, sanitary sewer, and storm sewer infrastructure; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development in that it is immediately necessary for the City to fulfill its commitment under the EDA to authorize the TIF Agreement and the Utility Agreement as the Developer’s lender is requiring the Developer to close on the apartment financing before the end of the month but the lender will not close unless the City first authorizes the TIF Agreement and the Utility Agreement and without such financing the apartments may be delayed beyond the deadline in the EDA causing a loss of new housing units and construction jobs, all for the immediate 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 the Department of Development (together with his or her designee, the “Development Director”), for and in the name of the City, is hereby authorized to execute and deliver the TIF Agreement with the WestBend Community Authority and the Developer presently on file with the Development Director, 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 Development Director and the City Attorney, provided that the approval of such changes and amendments thereto, and the character of those changes and amendments as not being substantially adverse to the City, shall be evidenced conclusively by the execution of said TIF Agreement by the Development Director.
SECTION 2. That the Director of Columbus Water & Power (together with his or her designee, the “CWP Director”), for and in the name of the City, is hereby authorized to execute and deliver the Utility Agreement with the WestBend Community Authority and the Developer presently on file with the CWP Director, 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 CWP Director and the City Attorney, provided that the approval of such changes and amendments thereto, and the character of those changes and amendments as not being substantially adverse to the City, shall be evidenced conclusively by the execution of said Utility Agreement by the CWP Director.
SECTION 3. That the Development Director, CWP Director, or other appropriate officers of the City are respectively authorized to take all actions as may be necessary to implement this Ordinance and the transactions contemplated by the TIF Agreement and the Utility Agreement.
SECTION 4. That the Service Payments deposited or to be deposited into the WestBend TIF Fund shall be appropriated for the purposes set forth in the TIF Agreement and authorized to be expended therefrom in accordance with the TIF Agreement, and the City Auditor is authorized to make payments to the WestBend Community Authority, or its designee, from the Service Payments in the WestBend TIF Fund in accordance with the TIF Agreement upon order of the Development Director, and that no order shall be drawn or money paid except by voucher, the form of which shall be approved by the City Auditor.
SECTION 5. That the City Auditor is authorized to make annual transfers of up to $5,000.00 per each TIF under the TIF Agreement from the Service Payments in the WestBend TIF Fund to the Business Tax Incentive Fund (Fund 2229), subject to the authorization of the Development Director, for the “City TIF Administrative Fee” in accordance with the TIF Agreement and Ordinance No. 1837-2025.
SECTION 6. That funds are hereby appropriated and expenditures and transfers authorized to carry out the purposes of this Ordinance and the City Auditor shall establish such accounting codes as necessary.
SECTION 7. That the City Auditor is authorized to make any accounting changes to revise the funding source for all contracts or contract modifications associated with this Ordinance.
SECTION 8. That the City Auditor is hereby authorized to transfer the unencumbered balance in a project account to the unallocated balance account within the same fund upon receipt of certification by the Director of the Department administering said project that the project has been completed and the monies are no longer required for said project.
SECTION 9. That for the reasons stated in the preamble hereto, which are 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 its passage if the Mayor neither approves nor vetoes the same.