City of Columbus - File #: 1283-2009

• File #: 1283-2009
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 9/24/2009
• In control: Development Committee
• On agenda: 10/19/2009
• Final action: 10/20/2009
• Title: To create tax increment financing areas encompassing certain parcels of real property in the area known as Weinland Park; to declare improvements to those parcels to be a public purpose and exempt from real property taxation; to require the owners of those parcels to make service payments in lieu of taxes; to require the distribution of the applicable portion of those service payments to the Columbus City School District; to establish a municipal public improvement tax increment equivalent fund and an urban redevelopment tax increment equivalent fund for the deposit of the remainder of those service payments; to authorize the Director of the City Department of Development to accept title to certain real property in and around the former Columbus Coated Fabrics site and to transfer that property back to the current owners; and to declare an emergency. AMENDED BY ORD. 0939-2017 PASSED 4/17/2017

Date	Ver.	Action By	Action	Result
10/20/2009	1	MAYOR	Signed
10/20/2009	1	CITY CLERK	Attest
10/19/2009	1	Columbus City Council	Approved	Pass
10/19/2009	1	COUNCIL PRESIDENT	Signed
9/30/2009	1	Dev Drafter	Sent to Clerk's Office for Council
9/29/2009	1	CITY ATTORNEY	Reviewed and Approved
9/25/2009	1	Auditor Reviewer	Reviewed and Approved
9/25/2009	1	CITY AUDITOR	Reviewed and Approved
9/25/2009	1	Dev Drafter	Sent for Approval
9/24/2009	1	Dev Drafter	Sent for Approval
9/24/2009	1	DEVELOPMENT DIRECTOR	Reviewed and Approved
9/24/2009	1	Dev Drafter	Sent for Approval

Explanation

Background: The Department of Development has determined to facilitate the urban redevelopment of certain parcels of real property in the City known as the former Columbus Coated Fabrics Site and adjacent properties and, in connection with that redevelopment, the City has entered into an Economic Development Agreement with Wagenbrenner Development, Inc., by which the City agreed to establish certain tax increment financing (TIF) areas on certain redevelopment parcels pursuant to Sections 5709.40 and 5709.41 of the Ohio Revised Code. The City has previously by its Ordinance No. 1966-2008 passed January 26, 2009, found those redevelopment parcels to be a "blighted area" within the meaning of Sections 1728.01 and 1.08 of the Ohio Revised Code and certified that the City is an "impacted city" within the meaning of Section 1728.01 of the Ohio Revised Code.

In order to implement that urban redevelopment under the Economic Development Agreement, the attached Ordinance establishes two TIF areas and provides for a 100% exemption from real property taxation on all improvements to the parcels within the TIF areas for a period of not more than thirty (30) years. The Columbus City School District will receive, in the same manner as usual, all amounts that it would have received in real property taxes had the tax exemption not been granted. Annual service payments in lieu of taxes will be made with respect to improvements to the TIF parcels. The applicable portion of those service payments will be distributed directly to the Columbus City School District, with the remaining non-school portion of those service payments paid to the City for deposit into the applicable TIF fund established in the Ordinance to be used to fund public improvements benefiting the TIF parcels.

As contemplated in the Economic Development Agreement, the attached Ordinance also authorizes the Director of the City Department of Development to accept title to certain real property in and ar...