Explanation
BACKGROUND: This ordinance will authorize the Director of the Department of Development to enter into a Development Agreement with Miracit Development Corporation, Inc. for the residential redevelopment of approximately 10.92 acres of city owned land located on Woodland Avenue in the City of Columbus. The land is the site of the former Woodland Ridge Apartment complex which will be redeveloped by Miracit into approximately 30 single-family homes to be known as Greenview Estates. The development is part of the Columbus Housing Initiatives project for affordable housing and will incorporate environmentally friendly "green building" specifications as well. Under the terms of the proposed agreement, the City will provide by means of a grant to Miracit the land upon which the subdivision is to be constructed together with reimbursement for Miracit's construction of public street, sewer, water, storm water, stormwater detention pond and other capital improvements which will be dedicated to the public use upon completion. Miracit in return will develop and market, in partnership with the BIA, the building lots and require construction to comply with the "green building" and affordability requirements of the program.
Emergency action is requested to enable the bidding process for construction of the public improvements to commence in time for
the approaching construction season.
FISCAL IMPACT: Funds for this project have been identified in the 2005 capital improvements budget.
Title
To authorize the Director of Development to enter into a Development Agreement with Miracit Development Corporation, Inc. for the development of a single-family residential subdivision to be known as Greenview Estates; to authorize the Director of Public Service and the Director of Public Utilities to execute Capital Improvement Project Reimbursement Agreements for a guaranteed maximum sum pursuant to Columbus City Charter Section 186; to authorize the gra...
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