Explanation
Background: The purpose of this ordinance is to amend Ordinance 3170-2019 to correct an error in the ordinance number and tax increment financing name referenced in Section 1. The ordinance numbers will change from 2356-98 passed on September 14. 1998 to 1648-2016 passed June 27, 2016 and the latter referenced tax increment financing name in Section 1 will change from Vine TIF Area No. 2 to Jaeger TIF Area No. 2. This amendment will allow for clear reference to the amended Exhibit A in Ordinance 1648-2016 as to which parcels were removed from the Jaeger TIF created pursuant to Ordinance 1648-2016 and then exempted in the Jaeger TIF Area No. 2 pursuant to Ordinance 3170-2019.
Emergency Justification:
Emergency legislation is requested in order to timely create the Stadium 41 TIF from the parcels remaining in the Jaeger TIF after some parcels were removed and placed in the Jaeger TIF Area No. 2, which will preserve the public peace, health, property, safety, and welfare.
Fiscal Impact: There is no fiscal impact from this amendment.
Title
To amend Ordinance 3170-2019 to correct an error in the number of the ordinances and latter name of the tax increment financing area referenced in Section 1; and to declare an emergency.
Body
WHEREAS, Ordinance 3170-2019 passed December 16, 2019, authorized Columbus City Council to remove certain parcels from the Jaeger TIF and to provide for 30 years a non-school one hundred percent (100%) tax increment financing exemption of the improvements to those same parcels pursuant to Sections 5709.41, 5709.42, and 5709.43 of the Ohio Revised Code; and
WHEREAS, it is necessary to amend Ordinance 3170-2019 to correct the number of the ordinances and latter name of the tax increment financing area referenced in Section 1; and
WHEREAS, an emergency exists in the usual daily operation of the City, in that it is immediately necessary to amend Ordinance 3170-2019 in order to timely create the Stadium 41 TIF from the parcels...
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