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 year period and was very successful. The first five-year SID period concluded in the summer of 2006 and the property owners reauthorized the SID, with slightly different boundaries, but still called the Capital Crossroads Special Improvement District. The second five-year SID will conclude in the summer of 2011 and now the property owners wish to reauthorize the SID, with slightly different boundaries, but again still called the Capital Crossroads Special Improvement District (map attached). The property owners initiated a one petition process in which at least 60% of the property owners within the District signed that they are interested in forming a SID and they approve of the plan for improvements and services to be provided by the SID (plan for improvements and services attached).
Companion legislation is being presented that approves the petition and Articles of Incorporation of the Capital Crossroads Special Improvement District and the inclusion of properties owned by the City of Columbus in the district.
This legislation is for the approval of the Plan for Improvement and Services to be provided by the Capitol Crossroads Special Improvement District of Columbus, Inc. pursuant to Ohio Revised Code Chapter 1710. This legislation is also for the approval of the properties of the municipal corporation in said plan for improvements and services.
FISCAL IMPACT: No funding is required for this legislation.
Title
To approve the plan for improvements and services to be provided by the Capitol Crossroads Special I...
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