City of Columbus - File #: 0669-2004

• File #: 0669-2004
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 3/29/2004
• In control: Development Committee
• On agenda: 4/19/2004
• Final action: 4/21/2004
• Title: To authorize the Director of the Department of Development to allow the City to accept title to certain property generally known as the former AC Humko site and to transfer the property back to the original owners; and to declare an emergency. ($0)

Date	Ver.	Action By	Action	Result
4/21/2004	1	CITY CLERK	Attest
4/20/2004	1	MAYOR	Signed
4/19/2004	1	Columbus City Council	Approved	Pass
4/19/2004	1	COUNCIL PRESIDENT	Signed
4/5/2004	1	Dev Drafter	Sent for Approval
4/5/2004	1	DEVELOPMENT DIRECTOR	Reviewed and Approved
4/5/2004	1	Dev Drafter	Sent for Approval
4/5/2004	1	CITY ATTORNEY	Reviewed and Approved
4/5/2004	1	Dev Drafter	Sent to Clerk's Office for Council

Explanation

BACKGROUND:
The purpose of this ordinance is to authorize the Director of the Department of Development to execute documents to allow the City to accept title to certain property known as the former AC Humko site and to transfer the property back to the original owners, Royal Tallow Holdings Ltd., for the purpose of creating a Tax Increment Finance (TIF) district under Ohio Revised Code (ORC) section 5709.41.

Royal Tallow Holdings Ltd. intends to redevelop the former AC Humko site, at 525 West 1st Avenue, into approximately 222 apartments, 62 condominiums and 41 single-family homes. Royal Tallow has been working extensively with residents of the Harrison West neighborhood of Columbus over the past 12 months to ensure community input and receive neighborhood support. Also, the Department of Development was recently successful in obtaining a $3 million Clean Ohio Brownfield Redevelopment Grant to undertake site clean up and prepare for redevelopment construction.

The City of Columbus and Royal Tallow Holdings Ltd. desire to create a TIF District under ORC Section 5709.41 to pay for certain public infrastructure improvements and to otherwise support the former AC Humko site redevelopment while protecting the Columbus Public School District from any loss of tax revenues.

Revised Code § 5709.41 requires that the City own the property at some time prior to passing an ordinance to establish the TIF. Therefore, this legislation is necessary to authorize the City to accept title to the land comprising the former AC Humko site project, and then to transfer the property back to the owners. The TIF ordinance is being simultaneously submitted for consideration by the City Council.

FISCAL IMPACT:
There is no expenditure of City funds associated with the transfer of the property.



Title

To authorize the Director of the Department of Development to allow the City to accept title to certain property generally known as the former AC Hum...