Explanation
Background:
This ordinance declares City Council’s determination to proceed with acquiring, constructing, installing, equipping, or improving off-street parking facilities near the southeast corner of the intersection of West Rich Street and McDowell Street in the East Franklinton area of Columbus.
Pursuant to Ordinance No. 2821-2017, the City and EF Garage, LLC entered into a Contribution Agreement on December 15, 2017 (the “Agreement”), through which the City agreed to contribute $10,000.00 per parking space in a total amount not-to-exceed $2,000,000.00 to EF Garage, LLC for the costs associated with constructing the public parking spaces in the Project and EF Garage, LLC agreed to make annual payments to the City through the form of a 30-Year special assessment in the total amount of $2,631,000.00
On July 18, 2022, Council approved Resolution No. 0144X-2022 declaring the necessity of acquiring, constructing, installing, equipping, or improving off-street parking facilities near the southeast corner of the intersection of West Rich Street and McDowell Street and levying a special assessment in order to fund a portion of the costs to construct a parking garage that will include 200 public parking spaces.
Fiscal Impact:
No City funding is required for the financing of the project.
Emergency Designation: Emergency action is requested to facilitate the subsequent administrative actions required for the special assessment to be certified to the Franklin County Auditor before the second Tuesday in September for addition to the 2023 property tax bills and commencement of the 30-Year Special Assessment.
Title
To determine to proceed with acquiring, constructing, installing, equipping, and improving off street parking facilities near the southeast corner of the intersection of West Rich Street and McDowell Street, and acquiring interests in the site thereof, together with all necessary and proper appurtenances, and determining that such action is ne...
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