City of Columbus - File #: 3370-2023

• File #: 3370-2023
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 11/20/2023
• In control: Economic Development Committee
• On agenda: 12/11/2023
• Final action: 12/14/2023
• Title: To amend Ordinance No. 1237-2015, as previously amended by Ordinance No. 3168-2019, to remove and add certain parcels of real property to the Old Dublin Road TIF; to declare the nonresidential improvements to the 2023 additional parcels added herein to be a public purpose and exempt from real property taxation for a separate exemption period from the 2015 and 2019 Old Dublin Road parcels exemption periods; to require the owner(s) of the 2023 additional parcels added herein to make service payments in lieu of taxes; to require the distribution of the applicable portion of those service payments to the school districts; and to deposit the remainder of those service payments into the Old Dublin Road TIF Fund for public infrastructure improvements.

Date	Ver.	Action By	Action	Result
12/14/2023	1	ACTING CITY CLERK	Attest
12/13/2023	1	MAYOR	Signed
12/11/2023	1	COUNCIL PRESIDENT	Signed
12/11/2023	1	Columbus City Council	Approved	Pass
12/4/2023	1	Columbus City Council	Read for the First Time

Explanation

BACKGROUND: City Council created the Old Dublin Road TIF near the northwest intersection of Old Dublin Road and Trabue Road pursuant to Section 5709.40(B) of the Ohio Revised Code by its passage of Ordinance No. 1237-2015 on June 9, 2015. In order to fund additional public infrastructure improvements in and around the West Scioto Area Commission, City Council expanded the Old Dublin Road TIF area pursuant to Section 5709.40(B) of the Ohio Revised Code by its passage of Ordinance No. 3168-2019 on December 16, 2019. In order to fund additional public infrastructure improvements benefiting proactive industrial development in and around the former Buckeye Yard intermodal railroad terminal, the Department of Development is proposing a second expansion of the Old Dublin Road TIF area pursuant to Section 5709.40(B) of the Ohio Revised Code.

This Ordinance expands the Old Dublin Road TIF for a second time and provides for a 100% exemption from real property taxation on all nonresidential development on the additional TIF parcels for a separate period of not more than thirty (30) years. The TIF money will be used to finance land acquisition in aid of industry, commerce, distribution, or research, utility lines, traffic improvements, and other public infrastructure improvements needed in the Old Dublin Road TIF area. The Columbus City School District, South Western City School District, Hilliard City School District, and Tolles Career & Technical School District (collectively the “School Districts”) will receive, in the same manner as usual, all amounts that they would have received in real property taxes had the exemption not been granted. Annual service payments in lieu of taxes will be made with respect to new nonresidential development on each TIF parcel in the 2023 expansion area. The applicable portion of those service payments will be distributed directly to the School Districts, with the remaining non-school portion of those service payments paid to...