Explanation
BACKGROUND: Chapter 1710 of the Ohio Revised Code, effective September 29, 1994 provides for the creation of Special Improvement Districts, by non-profit corporations governed by trustees elected by the property owners for the provision of special services in a designated district. The City of Columbus currently has four Special Improvement Districts known as (SIDS); they are the Capital Crossroads SID, Discovery SID, Short North SID, and the Morse Road SID. All have been very successful and all have been reauthorized attesting to that success. We now have a petition to approve a new SID in the University area to be known as the “University District Special Improvement District (University District SID) within the boundaries of the map (attached). The property owners have initiated a one petition process in which the owners of at least 75% of the area of all real property located within the District signed, acknowledging that they are interested in the creation of a Special Improvement District and they approve of the Plan for Improvements and Services to be provided by the University District SID.
This legislation is the first of a series of actions required by Chapter 1710 of the Ohio Revised Code. City Council must approve the Petition and the Articles of Incorporation (attached) of the University District Special Improvement District of Columbus, Inc., an Ohio not-for-profit corporation organized pursuant to Chapter 1702 of the Revised Code.
A companion piece of legislation will ask City Council to approve the Plan for Improvement and Services to be provided by the University District SID.
Emergency action is required to allow the University District Special Improvement District of Columbus, Inc. to continue to establish a Special Improvement District in a timely manner.
FISCAL IMPACT: No funding is required for this legislation.
Title
To approve the University District Special Improvement District of Columbus, Inc. Petition and Article...
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