City of Columbus - File #: 2093-2023

• File #: 2093-2023
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 7/5/2023
• In control: Economic Development Committee
• On agenda: 7/31/2023
• Final action: 8/2/2023
• Title: To authorize the appropriation and transfer of $10,000.00 of service payments in lieu of taxes between the Milo-Grogan TIF Fund and the Housing Business Tax Incentive Fund; to authorize the appropriation and transfer of $5,000.00 annually of service payments in lieu of taxes between the Milo-Grogan TIF Fund and the Housing Business Tax Incentive Fund during the term of the tax increment financing agreement; to appropriate and authorize the expenditure of service payments in lieu of taxes deposited, or to be deposited, into the Milo-Grogan TIF Fund to the developer or its designee; to authorize the Director of the Department of Development, on behalf of the City, to enter into a tax increment financing agreement between the City and Half Baked Holdings, LLC for reimbursement of certain public infrastructure improvements, as defined by R.C. 5709.40(A)(8). ($10,000.00)

Date	Ver.	Action By	Action	Result
8/2/2023	1	ACTING CITY CLERK	Attest
8/2/2023	1	MAYOR	Signed
7/31/2023	1	COUNCIL PRESIDENT	Signed
7/31/2023	1	Columbus City Council	Approved	Pass
7/24/2023	1	Columbus City Council	Read for the First Time

Explanation

Background: City Council passed Ordinance No. 3097-2015 (the “Original TIF Ordinance”) on December 14, 2015 that declared improvements to certain parcels of real property located in the City to be a public purpose, and established a non-school tax increment financing (TIF) area pursuant to R.C. Section 5709.40(B) in the vicinity of the Milo-Grogan neighborhood (the “Milo-Grogan TIF”). The non-school portion of those service payments in lieu of taxes (the “Service Payments”) paid to the City for deposit into the Milo-Grogan TIF Fund will be used to finance public infrastructure improvements benefiting the Milo-Grogan TIF parcels in anticipation of new developments around the neighborhood.

Half Baked Holdings, LLC (the “Developer”) is redeveloping the former Kroger Bakery site on Cleveland Avenue (the “Site”) directly south of the Milo-Grogan TIF into a mixed-use development consisting of approximately 40,300 square feet of office, 9,600 square feet of retail, 363 multi-family units, 401 garage parking spaces, and an urban green space (collectively, the “Project”). Pursuant to Ordinance No. 0508-2021 passed on March 8, 2021 by City Council, the City entered the southern manufacturing building on the Site, which is also the former Ford Motor Company Branch Assembly Plant, on the Columbus Register of Historic Properties.

To further support the preservation of the now vacant, historical Site, and repurposing it for the Project, the City is submitting an ordinance for City Council consideration to amend the Original TIF Ordinance by adding the nonresidential improvements on the Site and other parcels surrounding the Milo-Grogan TIF to the same 100% exemption and 30-year term as the currently exempted parcels under the Original TIF Ordinance, and requiring that new Service Payments be deposited into the tax increment equivalent fund established for the Milo-Grogan TIF (the “Milo-Grogan TIF Fund”). This Ordinance will authorize the City to enter into a TI...