Explanation
BACKGROUND
On December 11, 2023, Columbus City Council adopted Ordinance No. 3448-2023, which created the Columbus Housing Community Reinvestment Area (CHCRA), expanding the geographic area for residential tax abatement eligibility under Chapter 4565 of the Columbus City Codes.
Prior to the creation of the CHCRA, the Columbus City Council amended several Community Reinvestment Areas (CRAs) to adopt transition language to provide Project Sponsors additional time to obtain the benefits of the policies applicable to a given CRA prior to the enactment of Ordinance Nos. 1843-2022 and 1839-2023, which adopted affordability requirements in connection with receipt of a tax abatement under Ohio Revised Code Sections 3735.65 through 3735.70. Such transition language provided a Project Sponsor the opportunity to follow the requirements established by Ordinance Nos. 2184-2018 and 2781-2018 if the Project Sponsors either (a) obtained all necessary building permits on or before August 31, 2023; or (b) closed on all project construction financing and obtained at least 50% of the project’s building permits by August 31, 2023 (“2022 Policy Transition”).
Sections 3(b) and 5 of the CHCRA Ordinance, however, absorbed and dissolved a number of the previously existing CRAs that contained the 2022 Policy Transition. As a result of the enactment of the CHCRA Ordinance and the dissolution of certain of the CRAs that contained the 2022 Policy Transition, the 2022 Policy Transition was inadvertently eliminated from the CRAs that were dissolved and absorbed into the boundaries of the CHCRA.
City Council, on the recommendation of the Director of the Department of Development, finds that, in fairness to the Project Sponsors who were relying upon the 2022 Policy Transition to complete their respective Development Projects, it is necessary to amend the CHCRA Ordinance to reinstate the 2022 Policy Transition for those Project Sponsors affected by the enactment of the CHCRA Or...
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