City of Columbus - File #: 1246-2006

• File #: 1246-2006
• Version: 2
• Type: Ordinance
• Status: Passed
• File created: 6/29/2006
• In control: Jobs and Economic Development Committee
• On agenda: 7/24/2006
• Final action: 7/26/2006
• Title: To appoint three (3) citizen members and one (1) local government representative member to serve on the Board of Trustees of The Jeffrey Place New Community Authority; to establish a method for selection of successor members of the Authority's Board of Trustees; and to approve and authorize the Director of Development to execute a Tax Increment Financing and Cooperative Agreement in support of the redevelopment and revitalization of the former Jeffrey Mining Site and to declare an emergency.

Date	Ver.	Action By	Action	Result
7/26/2006	2	ACTING CITY CLERK	Attest
7/25/2006	2	MAYOR	Signed
7/24/2006	2	Columbus City Council	Approved as Amended	Pass
7/24/2006	1	Columbus City Council	Amended to Emergency	Pass
7/24/2006	2	COUNCIL PRESIDENT	Signed
7/10/2006	1	Columbus City Council	Read for the First Time
7/5/2006	1	CITY ATTORNEY	Sent to Clerk's Office for Council
6/30/2006	1	City Clerk's Office	Sent back for Clarification/Correction
6/29/2006	1	Dev Drafter	Sent for Approval
6/29/2006	1	Dev Drafter	Sent for Approval
6/29/2006	1	Dev Drafter	Sent to Clerk's Office for Council
6/29/2006	1	DEVELOPMENT DIRECTOR	Reviewed and Approved
6/29/2006	1	CITY ATTORNEY	Reviewed and Approved

Explanation

Background: In response to a petition from Jeffrey Place Development LLC, this Council by its Resolution No. 050X-2004 passed on March 8, 2004, approved the creation of The Jeffrey Place New Community Authority (the "Authority") and must make initial appointments to its Board of Trustees and establish a method for selection of successor members of the Authority's Board of Trustees.

In order to support the redevelopment of the former Jeffrey Mining Site, this Council also passed Ordinances No. 0546-02 on April 8, 2002 (the ".41 TIF Ordinance") and No. 1608-02 on October 28, 2002 (the ".40 TIF Ordinance", together with the .41 TIF Ordinance, the "TIF Ordinances"), each declaring as a public purpose improvements to parcels of certain real property located on the former Jeffrey Mining Site (the "Redevelopment Area", as described and depicted in the .41 TIF Ordinance). Each TIF Ordinance provides for a 100% TIF on development within its TIF Area for a period of not more than thirty (30) years, with payments to the Columbus City School District in the amount of real property taxes that School District would have received. The remaining annual service payments in lieu of taxes received in respect of development within each TIF Area will be paid into the Jeffrey Place Urban Redevelopment Tax Increment Equivalent Fund (the ".41 TIF Fund") created by the .41 TIF Ordinance and the Municipal Public Improvement Tax Increment Equivalent Fund created by the .40 TIF Ordinance (the ".40 TIF Fund", together with the .41 TIF Fund, the "TIF Fund") to fund certain public improvements supporting the redevelopment of the former Jeffrey Mining Site, all as previously identified in each TIF Ordinance.

The attached ordinance appoints three (3) citizen members and one (1) local government representative member to serve on the Authority's Board of Trustees, establishes a method for selection of successor members of the Authority's Board of Trustees, and approves and a...