Explanation
This ordinance authorizes the Director of the Department of Development to amend the Madison Township Joint Economic Development District Contract for the purpose of expanding the Madison Township JEDD boundaries to include the Northpoint additional property and the CT Realty additional property and approving amendments to the Madison Township Annexation Moratorium Agreement.
Pursuant to Ohio Revised Code (“O.R.C.”) Chapter 715, including particularly O.R.C. 715.72 of current law (the “JEDD Act”), the City of Columbus, Madison Township, and the Village of Ashville executed the Madison Township Joint Economic Development District Contract (the “Original JEDD Contract”) effective June 30, 2010 for their mutual benefit and for the benefit of their residents and of the State of Ohio.
The City of Columbus, Village of Ashville, Madison Township, Northpoint Development, LLC and CT Realty Group, LLC desire to facilitate the expansion of the Madison Township JEDD boundaries to include Northpoint’s additional property and CT Realty’s additional property to the JEDD Area.
Northpoint Development, LLC (Northpoint) has acquired, or plans to acquire, and desires to develop a parcel of land for commercial purposes (the “Project” or “Project Area”) at a site within the boundaries of the Township (the “Northpoint additional property”) provided that the appropriate economic development incentives are available to support the economic viability of the Project. The Northpoint additional property is currently located outside of the original JEDD Area.
CT Realty Group, LLC (“CT Realty”) has acquired, or plans to acquire, and desires to develop a parcel of land for commercial purposes (the “Project” or “Project Area”) at a site within the boundaries of the Township (the “CT Realty additional property”) provided that the appropriate economic development incentives are available to support the economic viability of the Project. The CT Realty Additional Proper...
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