Explanation
BACKGROUND: This ordinance authorizes the Director of the Department of Development to seek an amendment of the certification of an area designated within the City of Columbus (“City”) as a Community Reinvestment Area (“CRA”). CRAs have been designated by Columbus City Council under the general guidelines of Ordinance No. 1698-78. Such CRAs allow for the granting of real property tax abatements to encourage industrial, commercial, and residential growth. This designated CRA within the Port Columbus Executive Park between Airport Drive and Alum Creek (the “Airport Drive CRA”, number 049-18000-28) was originally authorized by City Council by Resolution No. 42X-94 passed on March 21, 1994.
This ordinance will amend the existing Airport Drive CRA by (1) renaming the Airport Drive CRA to be the Airport CRA (the "Airport CRA"); (2) revising the improvements eligible for abatement within the Airport CRA; and by (3) adding approximately 3,679.18 acres as described in the map and parcel list attached hereto as Exhibits A-1 and A-2. This additional area is comprised of 1,095 individual parcels within the City contiguous with the current boundary of the Airport Drive CRA but not currently within the boundary of the Airport Drive CRA. Approximately ninety-two percent (92%) of the parcels to be added to the Airport CRA are within the Columbus City School District and approximately eight percent (8%) will be within the Gahanna-Jefferson City School District.
Resolution No. 147X-94, passed by City Council on June 27, 1994, was the first amendment to the existing Airport Drive CRA, and amended it to include the area between Airport Drive and I-670 and west of North Cassady Avenue and to authorize tax abatements within the area for 100% abatement not exceeding 5 years for new construction of every non-retail business or industrial structure but only in the amended area. For the purpose of determining the "first two amendments" referenced in division (B) of Section 3...
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