Explanation
Background:
As a result of development interests in the Hayden Run corridor, the city of Columbus engaged in a cooperative dialogue with the development community, adjoining municipalities and townships, and various stakeholders that resulted in the Interim Hayden Run Corridor Plan and an unprecedented agreement with the development community. This agreement, consistent with Mayor Coleman's Pay As We Grow policies, involved commitments from the developers to participate in the funding of infrastructure that will benefit the entire northwest quadrant of Franklin County. Dominion Homes, Inc. has a pending rezoning application, Z06-045, for 319 acres generally located to the west of Cosgray Road and to the south of Rings Road. The site lies within the western sub area of the 2004 Interim Hayden Run Plan. This ordinance authorizes the Director of Development to execute an agreement that will affirm the commitments and obligations of Dominion Homes as they pertain to the Pay As We Grow Plan established in First Hayden Run MOU on November 22, 2004 (Ord. 0176-2006).
Fiscal Impact:
Dominion Homes agrees to make a total contribution estimated at $2,952,600. This estimate is based on $1,658 multiplied by the number of residential units constructed on the Dominion property. This contribution will be provided in the form of cash payments; agreed value of dedicated land value; and agreed value of developer-completed road and/or other public improvements. In addition to these contributions, Dominion Homes agrees to include the referenced land in the Hayden Run Community Development District. The City of Columbus will create new Hayden Run Tax Increment Financing Districts to encompass the Dominion Property, which will in turn finance infrastructure improvements in the area.
Title
To authorize the Director of Development to enter into a Memorandum of Understanding with Dominion Homes, Inc. to affirm financing commitments based upon the Pay As We Grow Plan in the Hayden Run Corridor; and to declare an emergency.
Body
WHEREAS, in late 2002 the city of Columbus became aware of significant development interest in the central portion of the Hayden Run Corridor; and
WHEREAS, the city of Columbus responded to that interest by engaging in a cooperative dialogue with the development community, adjoining municipalities and townships, and various stakeholders; and
WHEREAS, that dialogue resulted in the Interim Hayden Run Corridor Plan adopted by City Council on June 14, 2004 to help ensure the coordination of land use and infrastructure development; and
WHEREAS, Dominion Homes, Inc., Dominion Homes, Inc. has a pending rezoning application, Z06-045, for 319 acres generally located to the west of Cosgray Road and to the south of Rings Road; and
WHEREAS, the parties to this Agreement recognize that the uniqueness of the development contemplated by the rezoning in the Hayden Run Corridor presents an opportunity for public and private participation in the funding and completion of infrastructure improvements; and
WHEREAS, in the spirit of developing the "Pay As We Grow" policy of Columbus, it is necessary and appropriate for the city of Columbus to engage Dominion Homes, Inc., in a binding agreement; and
WHEREAS, in order to affirm the financing commitments for infrastructure improvements in the Hayden Run Corridor, the Memorandum of Understanding, in substantially the form on file with the City Clerk, is hereby approved, with such changes as approved by the Director of Development which are not substantially adverse to the City, and which if made by the Director of Development, shall be conclusively evidenced by the execution of the Memorandum of Understanding by the Director of Development; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development, in that it is immediately necessary to authorize the Director of Development to enter into agreement with Dominion Homes, Inc., without delay so that planning and other actions can begin that are necessary to implement the Pay As We Grow Plan for the Hayden Run Corridor thereby preserving 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, in substantially the form on file with the City Clerk, with Dominion Homes, Inc., to affirm financing commitments for infrastructure improvements based upon the Pay As We Grow Plan in the Hayden Run Corridor.
Section 2. 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 passage and approval by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes the same.