Explanation
Background: Pursuant to the Big Darby Accord Watershed Master Plan and Resolution 0216X-2008 adopted by Columbus City Council on April 20, 2009, three revenue generation sources were identified: tax increment financing (TIF), new community authority (NCA) development charges, and per unit developer contributions for Big Darby Accord public improvements and other regionally beneficial public improvements within the Big Darby Accord area (the “Big Darby Revenue Program”). Redwood USA, LLC (the “Developer”) applied for rezoning (Rezoning Application #Z22-016) and received approval from the Development Commission on August 11, 2022 to rezone property along the east side of Alton Darby Creek Road between W. Broad Street and the Norfolk Southern railroad within the Big Darby Accord area and generally located at 400 Alton Darby Creek Road (tax parcel ID: 470-291522-00, known as the “Developer Property”). The Developer intends to purchase ±42.219 out of 55.28 acres currently owned by Cypress Wesleyan Church and intends to privately invest approximately $28,000,000.00 to construct two hundred twenty-five (225) multi-family units and private improvements (the “Development”). Consistent with Ordinance No. 2636-2022 passed by City Council on October 10, 2022 to rezone it for the Development, the Developer Property is subject to the requirements of the Big Darby Revenue Program. This legislation authorizes the Director of the Department of Development to enter into an agreement (the “Big Darby Development Agreement”) with the Developer to outline the plans and respective commitments of the City and Developer for the fulfillment of Big Darby Revenue Program requirements in relation to the Developer Property and the Development.
Fiscal Impact: No funding is required for this legislation.
Title
To authorize the Director of the Department of Development to enter into a Big Darby Development Agreement with Redwood USA, LLC (the “Developer”) to outline the plans a...
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