Explanation
Background: In 2007, the City of Columbus, Ohio ("City"), transferred properties in fee title, which are located in and around Bolton Airport, to the Columbus Regional Airport Authority ("CRAA"). The City's deed contained use restrictions limiting the use of these properties to airport related uses. Now CRAA desires to sell a 60.282 acre tract of real property (legal description depicted in the attachment, Exhibit A), which is subject to the City's use restrictions, to MSC Industrial Direct Co. for its new Customer Fulfillment Center. City Council previously authorized a Job Creation Tax Credit, Ordinance ? 1665-2012, and real property tax abatement, Ordinance ? 1668-2012, for this new development. To permit commercial development, the City must release the airport use restrictions on this 60.282 acre tract. Therefore, the following legislation authorizes the Director of the Department of Finance and Management to execute those documents necessary to release and discharge the City's use restrictions relating to only 60.282 acre tract of real property, but subject to the Federal Aviation Administration's approval.
Fiscal Impact: N/A
Emergency Justification: Emergency action is requested in order to not delay the benefit to the City resulting from development proposed by MSC Industrial Direct Co., which will preserve the public peace, health, property, safety, and welfare.
Title
To authorize the Director of the Department of Finance and Management to execute those documents necessary to release use restrictions on a 60.282 acre tract of real property in the recorded Quitclaim Deed to the Columbus Regional Airport Authority , Instrument ? 200712310221193, Recorder's Office, Franklin County, Ohio; and to declare an emergency.
Body
WHEREAS, the City of Columbus, Ohio, restricted the use of all the real property granted to the Columbus Regional Airport Authority ("CRAA") to airport related uses, as recorded in the Quitclaim De...
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