Explanation
BACKGROUND: In 2003 the Discovery District Development Corporation asked Capitol South Community Urban Redevelopment Corporation to initiate an effort to work with Discovery District property owners to create a Special Improvement District (SID) on the east side of downtown. Property owners were surveyed and overwhelmingly were in support of a proposal to create a SID. The SID was created for a five year period and has been very successful. The SID property owners now wish to terminate the existing plan a year early and reauthorize the Discovery Special Improvement District for an additional five year period, with slightly different boundaries, but still called the Discovery Special Improvement District (map attached).
In reauthorizing the Discovery SID, property owners initiated a one petition process in which at least 60% of the property owners within the District signed that they are interested in forming a SID and they approve of the Plan for Improvements and Services to be provided by the SID (petition attached). This legislation is one of the first actions required by Chapter 1710 of the Ohio Revised Code.
City Council must then accept the petitions and the Articles of Incorporation of the Discovery Special Improvement District of Columbus, Inc., an Ohio not-for-profit corporation organized pursuant to Chapter 1710 of the Revised Code. City Council is also being asked to also approve the inclusion of City owned property as part of the Special Improvement District.
Emergency action is required to allow the Discovery Special Improvement District to adhere to the Ohio Revised Code, Chapter 1710 requirements on the creation of Special Improvement Districts.
FISCAL IMPACT: No funding is required for this legislation.
Title
To approve the Discovery Special Improvement District of Columbus, Inc., Petition and Articles of Incorporation and the inclusion of the properties owned by the City of Columbus in said district.; and to d...
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