Explanation
Background: The Columbus City Council passed Ordinance No. 2628-2003 on December 15, 2003 establishing the Northland Mall tax increment financing district (the “Northland TIF”) declaring improvements to those parcels to be a public purpose and exempt from real property taxation; to require the owners of those parcels to make service payments in lieu of taxes; to require the distribution of the applicable portion of those service payments to the Columbus City School District; to establish an urban redevelopment tax increment equivalent fund for the deposit of the remainder of those service payments.
NPSC Limited (the “Property Owner”) is the owner of a parcel located within the boundaries of the Northland TIF and situated at the southwest corner of Northland Park Avenue and Tamarack Boulevard known as Franklin County Tax Parcel 010-287406 (the “Subject Property”). The Subject Property is currently being leased by the Franklin County Board of Commissioners (“Franklin County”) for use as general office space for the Department of Job and Family Services. For this reason, Franklin County would like to exercise its public purpose exemption.
Since the Subject Property is located in the Northland TIF, Columbus City Council must consent to Franklin County’s real property tax exemption in lieu of the City’s tax increment financing exemption.
Emergency Justification: Emergency action is requested in order to allow the contemplated property tax exemption to be approved by Columbus City Council prior to the date that second-half taxes are due for the 2018 tax year and for the preservation of the public health, peace, property and safety.
Fiscal Impact: There is no expenditure of City funds.
Title
To consent to a real property tax exemption on property located in the Northland TIF that is leased by the Franklin County Board of Commissioners for use as general office space for the Department of Job and Family Services; to authorize the Director of the De...
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