Explanation
BACKGROUND: This ordinance dissolves seven (7) separate community redevelopment areas which are all presently located within the boundary of the Columbus Downtown Community Reinvestment Area.
Ordinance 2649-2013, approved by Columbus City Council (Council) on November 18, 2013, authorized the Director of the Columbus Department of Development to submit to the Director of the Ohio Development Services Agency, an amendment to the certification of an area designated within the City of Columbus (City) as a Community Reinvestment Area (CRA). This designated area, now known as the Columbus Downtown CRA, number 049-18000-22, was authorized by Council by Resolution 170X-92, adopted on September 28, 1992, certified by the State of Ohio also on September 28, 1992 and amended by Council by Ordinance 1345-02 on July 29, 1992.
CRAs have been designated by Council under the guidelines of Ordinance 1698-78. Such areas allow for the granting of real property tax incentives to encourage industrial, commercial and residential growth.
Within the boundary of the Columbus Downtown CRA currently exist seven (7) separate CRAs which by language within the final paragraph of Section 5 of Ordinance 2649-2013, tax abatements are no longer to be granted under the terms of those CRAs effectively rendering each of these seven (7) separate CRAs dormant and unable to be utilized to grant tax abatements.
Emergency action is requested to allow for any and all local, county and state agencies to be notified of the dissolution of these seven (7) separate CRAs.
FISCAL IMPACT: No funding is required for this legislation.
Title
To dissolve seven (7) separate community redevelopment areas which are all presently located within the boundary of the Columbus Downtown Community Reinvestment Area, repealing the authorizing legislation and any related amendments to that legislation; and to declare an emergency.
Body
WHEREAS, Ordinance 2649-2013, approved by Columbus City Council (C...
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