City of Columbus - File #: 0670-2004

• File #: 0670-2004
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 3/29/2004
• In control: Development Committee
• On agenda: 4/26/2004
• Final action: 4/28/2004
• Title: An Ordinance declaring the improvement to certain parcels of real property to be a public purpose, requiring the owners thereof to make service payments in lieu of taxes, providing for the payment to the Columbus City School District of its portion of those service payments, and establishing a municipal public improvement tax equivalent fund for the deposit of the remainder of those service payments with the City. ($0)

Date	Ver.	Action By	Action	Result
4/28/2004	1	CITY CLERK	Attest
4/27/2004	1	MAYOR	Signed
4/26/2004	1	Columbus City Council	Approved	Pass
4/26/2004	1	COUNCIL PRESIDENT	Signed
4/19/2004	1	Columbus City Council	Read for the First Time
4/9/2004	1	City Clerk's Office	Sent back for Clarification/Correction
4/9/2004	1	Dev Drafter	Sent to Clerk's Office for Council
4/7/2004	1	City Clerk's Office	Sent back for Clarification/Correction
4/7/2004	1	Dev Drafter	Sent to Clerk's Office for Council
4/5/2004	1	Dev Drafter	Sent for Approval
4/5/2004	1	DEVELOPMENT DIRECTOR	Reviewed and Approved
4/5/2004	1	Dev Drafter	Sent for Approval
4/5/2004	1	CITY ATTORNEY	Reviewed and Approved
4/5/2004	1	Dev Drafter	Sent to Clerk's Office for Council

Explanation

BACKGROUND: The purpose of this ordinance is to declare improvements to certain parcels of real property in the vicinity of the former AC Humko site, within the Harrison West neighborhood, to be for a public purpose to allow for the creation of a Tax Increment Finance (TIF) district.

Royal Tallow Holdings Ltd. intends to redevelop the former AC Humko site, at 525 West 1st Avenue, into approximately 222 apartments, 20 condominiums and 41 single-family homes. Royal Tallow has been working extensively with residents of the Harrison West neighborhood of Columbus over the past 12 months to ensure community input and receive neighborhood support. Also, the Department of Development was recently successful in obtaining a $3 million Clean Ohio Brownfield Redevelopment Grant to undertake site clean up and prepare for redevelopment construction.

The City of Columbus and Royal Tallow Holding Ltd. desire to create a TIF District under Ohio Revised Code Sections 5709.40, 5709.42 and 5709.43 to pay for certain public infrastructure improvements and to otherwise support the former AC Humko site development and surrounding Harrison West neighborhood while protecting the Columbus City School District from any loss of tax revenues.

The payments in lieu of taxes provides for payment to the Columbus City School District for its portion of service payments, establishes the City Municipal Improvement Tax Equivalent Fund for the deposit of the remainder of service payments.

FISCAL IMPACT: No funding is required for this legislation.



Title

An Ordinance declaring the improvement to certain parcels of real property to be a public purpose, requiring the owners thereof to make service payments in lieu of taxes, providing for the payment to the Columbus City School District of its portion of those service payments, and establishing a municipal public improvement tax equivalent fund for the deposit of the remainder of those service payments with the Cit...