Explanation
Background:
In 2004, the City of Columbus became aware of development interest in the Northeast Corridor. The city responded to that interest by engaging in a cooperative dialogue with the development community to develop a Pay As We Grow plan for that area of the City to effectively manage development and secure the developers' participation in the funding of infrastructure that will benefit the entire northeast quadrant of Franklin County. This ordinance authorizes the Director of Development to execute an agreement that will affirm the commitments and obligations of the city and the developers based upon this Pay As We Grow Plan in the provision of critical infrastructure in the Northeast Corridor.
Fiscal Impact:
The agreement establishes developer contributions of $2,300 per unit for a financing program for regional infrastructure needs. The agreement also secures a commitment by the developers to participate in a New Community Authority to help pay for various infrastructure needs and basic city operations such as police and fire services and refuse collection that will benefit the development area.
Title
To authorize the Director of Development to enter into an agreement with MI Homes of Central Ohio, LLC, Dominion Homes, Inc., and Homewood Corporation to affirm financing commitments for infrastructure improvements based upon the Pay As We Grow Plan in the Northeast Corridor. ; and to declare an emergency.
Body
WHEREAS, in 2003 the City of Columbus became aware of significant development interest in the Northeast Corridor of the City; and
WHEREAS, in the spirit of developing the City's "Pay As We Grow" policy, the City responded to that interest by engaging in a cooperative dialogue with the development community to help ensure the coordination of land use and infrastructure development; and
WHEREAS, as a result of this dialogue, MI Homes of Central Ohio, LLC, Dominion Homes, Inc. and Homewood Corporatio...
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