Explanation
Background: Section 757.70 of House Bill 33 enacted by the 135th General Assembly and effective July 4, 2023, provides that the legislative authority of an impacted city may include a determination in an ordinance adopted under division (B) of Section 5709.40 of the Ohio Revised Code that satisfactory provision has been made for the public improvement needs of the parcels identified in the ordinance and may specify other improvements made, to be made, or in the process of being made that do not directly benefit the parcels identified in the ordinance but are in support of urban redevelopment within the meaning of Section 5709.41 of the Ohio Revised Code. This legislation makes the determination as to such satisfactory provision and allows the City, as an “impacted city” under Section 1728.01 of the Ohio Revised Code, to use tax increment financing in areas of the City other than the original TIF parcels for other public improvements in support of urban redevelopment within the meaning of Section 5709.41 of the Ohio Revised Code.
Emergency Justification: Emergency action is requested to adopt this legislation not later than the June 30, 2024 deadline required in Section 757.70 of House Bill 33 enacted by the 135th General Assembly.
Fiscal Impact: No funding is required for this legislation.
Title
To determine that satisfactory provision has been made for the public improvement needs of the parcels within certain tax increment financing areas previously adopted in an ordinance of the City under division (B) of Section 5709.40 of the Ohio Revised Code; to include additional public improvements made, to be made, or in the process of being made within the City in support of urban redevelopment within the meaning of Section 5709.41 of the Ohio Revised Code; to amend each of the TIF Ordinances identified in Exhibit A to this Ordinance; and to declare an emergency.
Body
WHEREAS, Ohio Revised Code (“R.C.”) Sections 5709.40(B), 5709.42, and 5709.43 au...
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