Explanation
BACKGROUND:
The Department of Development is proposing to establish an incentive district under Section 5709.40 (C) of the Ohio Revised Code. The proposed district is the former A.C. Humko site located in the Harrison West neighborhood north of downtown Columbus. One of the prerequisites for the creation of an incentive district is adoption by the City Council of a written economic development plan for the incentive district.
FISCAL IMPACT:
No funding is required for this legislation.
Title
An ordinance adopting the Harrison West / A.C. Humko Economic Development Plan as a guide for future economic development and in support of a tax increment financing district.
Body
WHEREAS, the Planning Division of the Department of Development has studied the former A.C. Humko site and prepared the Harrison West / A.C. Humko Economic Development Plan; and
WHEREAS, recommendations included in the Harrison West / A.C. Humko Economic Development Plan address land use, housing, job creation, and public infrastructure; now, therefore,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the Harrison West / A.C. Humko Economic Development Plan is hereby adopted by this Council.
Section 2. That the Department of Development and all departments and divisions of the City administration are hereby authorized and directed to use the Harrison West / A.C. Humko Economic Development Plan to initiate projects that will implement the provisions of the plan, including the establishment of a tax increment financing district to provide financing for public infrastructure improvements.
Section 3. That copies of the Harrison West / A.C. Humko Economic Development Plan shall be kept on file in the Department of Development, Planning Division.
Section 4. That this ordinance shall take effect and be in force from and after the earliest period allowed by law.