Explanation
Background: The Columbus City Council passed Ordinance 2628-2003 on December 15, 2003 establishing the Northland Mall tax increment financing district (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; and to establish an urban redevelopment tax increment equivalent fund for the deposit of the remainder of those service payments. Office and retail development has taken place at the site in the form of the redevelopment of the Lazarus and JC Penney Stores, the new Menard's, The Vaud-Villities and the Franklin County Animal Shelter.
On August 14, 2008 the Franklin County Commissioners purchased parcel 010-287414 to build the Franklin County Animal Shelter. Upon filing DTE RE3422 for a charitable exemption with the State Department of Taxation, Franklin County learned that the parcel was part of the Northland Mall TIF.
Because the TIF exemption supersedes Franklin County's requested exemption, the property owner (Franklin County Commissioners) is currently required to make service payments in lieu of taxes into the TIF Fund.
Franklin County has requested that the City remove parcel 010-287414 from the Northland TIF so that the Franklin County Commissioners may realize 100% charitable exemption on the parcel.
The attached Ordinance will remove Parcel 010-287414 from the Northland Mall TIF.
Fiscal Impact: No City funding is required for this legislation.
Title
To remove one parcel from the Northland Mall Tax Increment Financing District so that the property owner, Franklin County Commissioners, will realize 100% exemption on the Franklin County Animal Shelter; and to declare an emergency.
Body
WHEREAS, Sections 5709.41 through 5709.43 of the Ohio Revised Code (collect...
Click here for full text