Explanation
This ordinance authorizes the City of Columbus (“City”) to amend for a fourth time the Development Agreement dated July 3, 2019 (the “Development Agreement”) originally by and among the City, Franklin County (“County”), and Crew SC Stadium Company, LLC (“StadCo”), and to amend and restate for the first time the Housing Development Agreement dated November 10, 2021 (the “2021 HDA”) between the City and Confluence Development, LLC. The Development Agreement outlines certain mutual commitments of the parties related to (i) the financing, development, construction, operation, and occupancy of a new multi-purpose sports, entertainment, cultural and recreational facility (“Stadium”), (ii) the redevelopment of the MAPFRE Stadium site into a practice facility and training complex for Columbus Crew SC (the “Training Facility Project”), (iii) a community sports park campus that will include a community recreation facility and playing fields (“CSP”), and (iv) the development of a project containing mixed-use retail, entertainment, residential, hospitality, office and/or commercial uses (“Mixed-Use Development”) adjacent to the Stadium.
The First Amendment to the Development Agreement added the Confluence Community Authority (“Authority”) and Crew SC Development Company, LLC (“DeveloperCo”) as parties to the Development Agreement, and assigned all of the rights and obligations of StadCo under the Development Agreement to DeveloperCo, an affiliate company. The Second Amendment to the Development Agreement (“Second Amendment”) added CrewSC Training Company, LLC (“TrainingCo”), an agent of DeveloperCo, as a party to the Development Agreement to implement the Training Facility Project, memorialized DeveloperCo’s workforce housing commitment, memorialized the City’s commitments for certain public infrastructure improvements and the public parking garage within the Mixed-Use Development, and the timing and funding of the CSP. The Third Amendment to the Development A...
Click here for full text