Explanation
BACKGROUND: This ordinance authorizes the Director of Development to enter into a First Amendment (“First Amendment”) to the Intergovernmental Cooperation Agreement (“Agreement”) with the Central College Community Development Authority (“Authority”) regarding the placement and use of community development charge revenues held by and expected to come to the Authority two times per year from the Franklin County Auditor. The City and the Authority desire to enter into a First Amendment to the Agreement to allow for the construction of additional Community Facilities in the Northeast Pay As We Grow area and of benefit to the Authority’s District, and the levying and collecting annually the Community Development Charges sufficient to compensate the City for constructing those new Community Facilities and any appurtenant costs therefor.
Columbus City Council Ordinance 1271-2008 approved the establishment of the Authority and the Central College Community Development District (“District”) as provided under Chapter 349 of the Ohio Revised Code, and Ordinance 2305-2013 authorized the Agreement. The District encompasses various neighborhoods in northeast Columbus generally to be developed as part of an area characterized by well-balanced and diversified land use patterns to provide facilities for the conduct of commercial, residential, cultural, educational, and recreational activities under the City’s program to Pay as We Grow and Grow with a Plan (“Pay As We Grow”).
FISCAL IMPACT: No funding is required for this legislation.
Title
To authorize the Director of the Department of Development to enter into, on behalf of the City of Columbus, a First Amendment to the Intergovernmental Cooperation Agreement with the Central College Community Development Authority for the purpose of continuing to provide for the placement and use of community development charge revenues in a cooperative manner best designed to support the public infrastructure commitments; a...
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