Explanation
BACKGROUND: This ordinance authorizes the City Clerk to execute and sign a petition to initiate the creation of The Central College Community Development Authority to govern the Central College Community Development District. The petition is required in order to create a new community authority as provided under Chapter 349 of the Ohio Revised Code.
The Central College Community Development District encompasses portions of the northeast side of Columbus generally located east of the intersection of Lee Road and Central College Road and is to be developed as part of an area characterized by well-balanced and diversified land use patterns to provide facilities for the conduct of commercial, residential, cultural, educational and recreational activities. The City of Columbus, M/I Homes of Central Ohio, LLC, Dominion Homes, Inc. and Homewood Corporation have entered into a Memorandum of Understanding dated February 23, 2006, that provides for the creation of the Central College Community Development Authority.
FISCAL IMPACT: No funding is required for this legislation.
Title
To authorize the City Clerk to execute and sign, on behalf of the City of Columbus and the Columbus City Council, the Petition for the creation of The Central College Community Development Authority; and to declare an emergency.
Body
WHEREAS, in 2004, the City of Columbus (the "City") became aware of significant development interest in the northeast area of Columbus, including portions generally located east of the intersection of Lee Road and Central College Road as shown on Exhibit A to this Ordinance (the "District"); and
WHEREAS, based on this interest, the City engaged in a cooperative dialogue with the development community to develop a "Pay As We Grow" plan for that area of the City in order to effectively manage development and secure the participation of local developers in developing infrastructure that will benefit the entire northeast quadr...
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