City of Columbus - File #: 1662-2008

• File #: 1662-2008
• Version: 2
• Type: Ordinance
• Status: Passed
• File created: 10/15/2008
• In control: Development Committee
• On agenda: 10/27/2008
• Final action: 10/27/2008
• Title: To approve an economic development plan for the Blauser-Summerlyn incentive district; to confirm state that the City will may hereafter proceed with approval of the tax increment financing; and to declare an emergency.

Date	Ver.	Action By	Action	Result
10/27/2008	1	Columbus City Council	Amended as submitted to the Clerk	Pass
10/27/2008	2	Columbus City Council	Approved as Amended	Pass
10/27/2008	2	COUNCIL PRESIDENT	Signed
10/16/2008	1	Dev Drafter	Sent for Approval
10/16/2008	1	CITY ATTORNEY	Reviewed and Approved
10/16/2008	1	Dev Drafter	Sent to Clerk's Office for Council
10/15/2008	1	Dev Drafter	Sent for Approval
10/15/2008	1	DEVELOPMENT DIRECTOR	Reviewed and Approved

Background: The Department of Development is proposing the establishment of a tax increment financing (TIF) incentive district on the Blauser-Summerlyn site in the City pursuant to Section 5709.40(C) of the Ohio Revised Code. One of the prerequisites for the creation of the incentive district is the adoption by City Council of a written economic development plan for the district. The attached Ordinance adopts that economic development plan.

Fiscal Impact: No funding is required for this legislation.


Title

To approve an economic development plan for the Blauser-Summerlyn incentive district; to confirm state that the City will may hereafter proceed with approval of the tax increment financing; and to declare an emergency.


Body

WHEREAS, Section 5709.40(C) of the Ohio Revised Code authorizes the legislative authority of a municipal corporation to create, by ordinance, an incentive district and declare the improvement to each parcel of real property within that district to be a public purpose; and

WHEREAS, Section 5709.40(A) of the Ohio Revised Code requires an incentive district to have one or more distress characteristics, which may be defined as inadequate public infrastructure serving the district as evidenced by a written economic development plan for the district; and

WHEREAS, the City Department of Development has determined to create an incentive district on the Blauser-Summerlyn site in the City, as depicted and described in Exhibit A attached hereto (the "Incentive District"); and

WHEREAS, the area comprising the Incentive District has been studied and an economic development plan has been prepared for that area (the "Development Plan"), which Development Plan has been submitted to this Council and contains recommendations addressing land use, housing and public infrastructure and related issues; and

WHEREAS, an emergency exists in that this Ordinance is required to be immediately effective in order to facilitate the developm...