Explanation
Background:
Capitol South Community Urban Redevelopment Corporation has declared its intention to cause the redevelopment of the southwest corner of High and Rich Streets with a downtown housing project and to ask that Sections 5709.41 through 5709.43 of the Ohio Revised Code be employed to create a tax increment financing arrangement. Resort to such statute requires that the City determine that the real estate is situated in a blighted area. This Ordinance commences the requisite process by determining that the River South Redevelopment Area is blighted. This Ordinance is companion legislation to the Resolution declaring the necessity and intent to acquire the fee simple title to the real estate situated generally at the southwest corner of High and Rich Streets.
Fiscal Impact:
No funding is required for this legislation.
Title
To determine and declare that the River South Redevelopment Area is a blighted area, as defined in Section 1728.01 of the Ohio Revised Code and to declare an emergency.
Body
WHEREAS, the City is committed to eliminating conditions of, and preventing the recurrence of blight; and
WHEREAS, the City's Department of Development, Economic Development and Planning Services, published in the Fall of 2000 a Blight Assessment, with respect to the area know generally as Downtown South and delineated specifically in the assessment, which assessment documented the presence of blighting influences as defined in Section 1728.01 of the Ohio Revised Code; and
WHEREAS, the City Department of Development, Downtown Development Office, published on July 11, 2003, a Supplemental Report, with respect to the portion of Downtown South known generally as the River South Redevelopment Area and delineated specifically in the report, which report documented the extent of undeveloped property, vacant property and dilapidated improvements; and ; now, therefore:
WHEREAS, an emergency exists in the usual daily ...
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