Explanation
BACKGROUND: In 1999 the Capitol South Community Urban Redevelopment Corporation, the Greater Columbus Chamber of Commerce and the Columbus Department of Trade and Development initiated an effort to work with downtown property owners to create a Special Improvement District (SID) in the core area of downtown. Property owners were surveyed and overwhelmingly were in support of creating a SID. The SID was created for a five (5) year period and was very successful, and re-authorized for additional 5 year terms in 2006, 2011and 2016. In 2016 the SID’s petition was accepted and approved by Columbus City Council by Ordinance No. 0610-2016, passed March 14, 2016. Another action required by the Ohio Revised Code is the approval of the Plan of Improvements and Services and the inclusion of City owned property in said plan. This legislation was approved by Columbus City Council by Resolution No. 0042X-2016, passed March 21, 2016. The third piece of legislation was to declare the necessity to implement the Plan of Services adopted by the Capital Crossroads Special Improvement District of Columbus, Inc., and to levy a special assessment for the services. This legislation was approved by Columbus City Council by Resolution No. 0097X-2016, passed May 2, 2016. A final piece of legislation, providing for the levy of assessment to property owners, was approved by City Council by Ordinance No. 1578-2016, passed June 20, 2016. Each assessment is to be returned to the SID for operational requirements as set forth in the District Plan.
This legislation appropriates and approves the expenditure of assessments collected in Fiscal Year 2017 that are to be returned to the SID. This legislation also allows the Director of Development to enter into a contract with the Capital Crossroads Special Improvement District of Columbus, Inc. for disbursement of these funds.
FISCAL IMPACT: Funds for this expenditure will be received from the levy of assessments collected from property o...
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