Explanation
Background: M/I Homes of Central Ohio, LLC (“Developer”) is the prospective owner of approximately 27.9± acres of property located at 4570 Central College Road (the “Subject Property”) in the northeast area of the Columbus Pay as We Grow (PAWG) program. The Developer has submitted a request to rezone the Subject Property from PUD-4, Planned United Development District to PUD-4, Planned Unit Development District (H-35), which will allow a total of up to 138 units on the Subject Property (Rezoning Application #Z25-023).
Pursuant to Ordinance No. 1349-2021, the Subject Property was included in the rezoning of ±58.3 acres of property annexed from Blendon Township to the City of Columbus as part of a Rezoning Application (#Z20-099) submitted by Treplus Communities (the “2021 Rezoning”). The 2021 Rezoning provided the property with a full access point to Central College Road, which was located within the limits of the City’s Northeast MOU - Central College Ulry Road Reconstruction project (the “CIP Project”). In lieu of constructing the property’s Central College Road access point, Treplus Communities made a contribution to the City, in the amount of $500,000, for costs associated with incorporating the construction of said access point into the CIP Project (the “Central College Contribution”).
This legislation authorizes the Director of the Department of Development to enter into a Pay as We Grow Agreement (“Agreement”) with the Developer for fulfillment of the following PAWG requirements:1) the Central College Contribution will be memorialized as the Developer’s fulfillment of the standard $2,300 per residential unit contribution for the northeast PAWG (the “Per Unit Contribution) and 2) the Developer will cooperate with the City to create a new tax increment financing (TIF) incentive district that includes the Subject Property.
Fiscal Impact: No funding is required for this legislation.
Title
To authorize the Director of the Department of Developme...
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