Explanation
Background: This ordinance amends the Annexation Agreement originally entered between the City of Columbus and the Rickenbacker Port Authority ("RPA") on September 9, 1996 to establish for each party obligations related to annexation of Rickenbacker property to Columbus (the "Original Agreement"). The Original Agreement was extended by an amendment executed in December, 2007 between Columbus and the Columbus Regional Airport Authority (“CRAA”), successor by merger to Rickenbacker. The Agreement was further modified by a Second Amendment executed in February, 2008 The Agreement provides for a termination date of December 31, 2017 unless terminated earlier or extended upon written mutual consent of the parties. The City of Columbus and the CRAA desire to extend the term of the Annexation Agreement at this time for one year to ensure development can continue while Columbus and the CRAA resolve additional terms and conditions as required for a longer term extension of the Annexation Agreement. This ordinance is submitted as emergency in order to allow pending development proposals to proceed on schedule.
Fiscal Impact: No funding is required for this legislation.
Title
To authorize the Mayor to execute a Third Amendment to the Annexation Agreement between the City of Columbus and the Columbus Regional Airport Authority to extend the term thereof and for other provisions; and to declare an emergency.
Body
Whereas, the City of Columbus (City) and the Rickenbacker Port Authority (Rickenbacker) entered into an Annexation Agreement on September 9, 1996, to establish for each party obligations related to annexation of Rickenbacker property to Columbus (the "Original Agreement"); and
Whereas, the Original Agreement was extended in 2007 between the City and the Columbus Regional Airport Authority (“CRAA”), successor by merger to Rickenbacker, and further modified by a Second Amendment in, 2008 ; and
Whereas, the Annexation Agreement provides for...
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