Explanation
BACKGROUND: This legislation authorizes the appropriation and expenditure of $250,000 pursuant to the Contribution Agreement with the Confluence Community Authority, which was authorized by Ordinance No. 1858-2019 and approved by Columbus City Council on July 22, 2019.
The Confluence Community Authority (or “Authority”) is a New Community Authority that has been organized pursuant to Chapter 349 of the Ohio Revised Code for the purposes of owning and operating a new stadium for the Columbus Crew SC (the “Stadium”), undertaking private development activities on property adjacent to the new Stadium, facilitating the redevelopment and improvements to the area around the Historic Crew Stadium site that include a new training facility for the Columbus Crew SC, and developing infrastructure necessary to fulfill the needs of the projects.
On July 1, 2019, pursuant to Ordinance No. 1730-2019, City Council authorized the Development Director to enter into a Development Agreement, since amended, with Franklin County (“County”) and Crew SC Stadium Company, LLC (“Developer”) regarding the proposed financing, development, construction, operation and occupancy of the Stadium, the redevelopment of the Historic Crew Stadium site into a practice facility and training complex for Columbus Crew SC, and the development of a mixed-use development project adjacent to the Stadium (“Mixed-Use Development”), collectively, the “Project.” It was the intent of the City, County, and the Developer that immediately upon the formation of the Authority the Authority would become a party to the Development Agreement and that the City and the Authority would enter into a Contribution Agreement to provide for the timing and other mechanics relating to all or a portion of the City’s Contribution or other amounts to be contributed through the Authority.
As such, Ordinance No. 1858-2019 was passed, which authorized the Finance and Management Director, on behalf of the City, to enter ...
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