Explanation
This ordinance authorizes the City of Columbus (“City”) to enter into a Development Agreement (“Agreement”) with Franklin County (“County”) and Crew SC Stadium Company, LLC (“Developer”), collectively the “Parties”, with regard to the financing, development, construction, operation, and occupancy of a new multi-purpose sports, entertainment, cultural and recreational facility (“Stadium”), the redevelopment of the MAPFRE Stadium site into a practice facility and training complex for Columbus Crew SC (“Crew”) and a community sports campus that will include a community recreation facility and playing fields (“Community Sports Park”), and the development of a project containing mixed-use retail, entertainment, residential, hospitality, office and/or commercial uses (“Mixed-Use Development”) adjacent to the Stadium, collectively the “Project.”
The Developer is an affiliate of Crew SC Team Company, LLC (“Team”), which has acquired the right to operate the Crew, a Major League Soccer (“MLS”) franchise, contingent upon the commitments and conditions set forth in the Agreement.
On December 10, 2018, the City, the County and JHAC Ventures, LLC (“JHAC”), an affiliate of the Developer, entered into a Memorandum of Understanding (“MOU”) regarding the proposed financing, development, construction, operation and occupancy of the Project. The execution and delivery of the Agreement authorized by this ordinance shall cause the MOU to expire and obligate the Parties to perform the commitments therein.
Per the terms of the Agreement, the Developer will contribute at least $140 million toward the cost of the Project and commits to using good faith efforts to comply with the goals for minority and women-owned contractors, suppliers and vendors set forth in the Agreement’s Economic Inclusion Plan. The Developer will also make good faith efforts to comply with applicable City Workforce Housing requirements as it relates to the Mixed-Use Development. The City will contr...
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