Explanation
Background: Perry Street, LLC and the City have entered into an Economic Development Agreement for its Harrison Market project that will redevelop property located south of Fifth Avenue and the Battelle campus. The City committed in the Economic Development Agreement to form a new community authority pursuant to ORC Chapter 349 to support that redevelopment. On April 20, 2018, a Petition for the Organization of the Harrison Market Community Authority was submitted to City Council. City Council, by Resolution No. 0153X-2018, passed May 21, 2018, determined the sufficiency of the Petition and set a public hearing date on the Petition, which was held on May 29, 2018. This resolution officially creates the proposed new community authority and makes the City’s initial appointments to the authority’s board of trustees.
Emergency Justification: Emergency action is requested in order to facilitate the development of this project in a timely manner.
Fiscal Impact: No funding is required for this legislation.
Title
To declare the Harrison Market Community Authority to be organized and a body politic and corporate; to define the boundary of the Authority’s new community district; to provide the method of selecting the board of trustees of the Authority and fix the surety for their bonds; and to declare an emergency.
Body
WHEREAS, Perry Street, LLC (the “Developer”) and the City have entered into an Economic Development Agreement for the redevelopment of an approximately 21-acre site located south of Fifth Avenue and the Battelle campus as a mixed use commercial and residential development consisting of approximately 311 multi-family rental residential units, 32 single-family townhomes, 42 single-family residential homes, a 128 room hotel, retail/restaurant space, surface parking and a structured parking garage with at least 350 parking spaces, public park and open space amenities, and roadway and utilities improvements; and
WHEREAS, a Petition for the ...
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