City of Columbus - File #: 1666-2023

• File #: 1666-2023
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 5/26/2023
• In control: Economic Development Committee
• On agenda: 6/26/2023
• Final action: 6/28/2023
• Title: To authorize the Director of the Department of Development to enter into a First Amendment to the Tax Increment Financing and Cooperative Agreement with the Harrison Market Community Authority and WTD Development, LLC; to appropriate and authorize the expenditure of service payments in lieu of taxes and property tax rollback payments generated by parcels in the Harrison West Redevelopment Incentive District (AC Humko II TIF) pursuant to the First Amendment to the Tax Increment Financing and Cooperative Agreement to provide additional financing for the development of public parkland improvements; to authorize the City’s Recreation and Parks Department Director to enter into a Right of Entry and Release of Liability Agreement and a Construction Agreement with WTD Development, LLC; to authorize the City’s Recreation and Parks Department Director to enter into a Park Maintenance Agreement with the Harrison Market Community Authority; and to declare an emergency.

Date	Ver.	Action By	Action	Result
6/28/2023	1	CITY CLERK	Attest
6/27/2023	1	MAYOR	Signed
6/26/2023	1	COUNCIL PRESIDENT	Signed
6/26/2023	1	Columbus City Council	Approved	Pass

Explanation

Background: Ordinance No. 0443-2018 passed by City Council on February 26, 2018 authorized the City to enter into an Economic Development Agreement dated August 28, 2018 (the “EDA”) with Perry Street, LLC concerning the redevelopment of property now formerly owned by the Battelle Memorial Institute. The site consists of approximately 21 acres generally between Fifth Avenue and Third Avenue to the north and south, and Perry Street and the Olentangy River to the east and west (the “Site”). Pursuant to the EDA, the parties contemplated that within the Site there would be an approximately +/- 6.1 acre public parkland consisting of what is now Franklin County Tax Parcel ID’s 010-299006 and 010-299081 (the “Public Parkland”).

To facilitate the acquisition and development of the Public Parkland, City Council adopted Resolution No. 0153X-2018 on May 21, 2018 and Resolution No. 0325X-2018 on November 5, 2018 to establish the Harrison Market Community Authority (the “Authority”) and its new community district over the Site. Ordinance No. 3140-2018 passed by City Council on November 18, 2018 authorized the assignment of the EDA from Perry Street, LLC to WTD Development, LLC (the “Developer”) and authorized the City, the Authority, and the Developer to enter into the Tax Increment Financing and Cooperative Agreement dated December 1, 2018 (the “Agreement”). In accordance with the EDA and the Agreement, the City originally committed to providing up to $2.2 million of funds from the Harrison West Redevelopment Incentive District (the “AC Humko II TIF”) that had been established by City Council pursuant to Ordinance No. 0670-2004 passed on April 26, 2004.

Due to inflation and supply chain issues caused by the COVID-19 pandemic and its aftermath, this legislation is necessary to authorize the Director of the Department of Development to enter into the First Amendment to the Agreement (the “First Amendment”) as additional funding is required to be appropriated and ...