Explanation
Background: This ordinance authorizes the Director of the Department of Development to enter into a Joint Economic Development District Contract and an Annexation Moratorium Agreement with the Village of Ashville and the Township of Madison in Pickaway County, Ohio in order to provide for the long-term joint economic development within the southern Franklin and Madison Township areas. The creation of the Madison Township Joint Economic Development District (the "JEDD") will facilitate and further promote economic development projects and activities which currently are pending or proposed within and adjacent to the Rickenbacker Port Authority and will otherwise create or preserve jobs and employment opportunities, and improve the economic welfare of the citizens within the State, the JEDD parties, and the District.
The initial term of the Contract will extend until December 31, 2056, and will provide for certain governmental services and the sharing of responsibilities for the construction of capital improvements and other infrastructure required for development within the District and the distribution of revenues. Initially, the District will be governed by a Board of Directors who shall be appointed by the JEDD parties and exercise the powers set forth in the contract and as provided by law. As a condition of the Contract the JEDD parties have agreed to execute an Annexation Moratorium Agreement to help insure that the territory within the District will be reserved exclusively for joint economic development purposes and to establish a legal and policy framework to achieve that goal.
City Council approved Ordinance No. 1045-2006 on June 12, 2006 that authorized the Director of the Department of Development to enter into a Joint Economic Development District Contract and an Annexation Moratorium Agreement with the Village of Ashville and the Township of Harrison in Pickaway County, Ohio. The Northern Pickaway County Joint Economic Developm...
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