Explanation
BACKGROUND
This legislation authorizes the Director of the Department of Development to enter into an Economic Development Agreement with the Columbus Downtown Development Corporation, an Ohio not-for-profit corporation, and Scioto Peninsula Holdings Ltd., an Ohio Nonprofit limited liability company, whose sole member is the Columbus Downtown Development Corporation (hereinafter the “Development Team”).
The Development Team is proposing a project that will redevelop the City-owned property on the Scioto Peninsula which has the general boundaries of West Broad Street, Belle Street, the Scioto River, and the railroad tracks, as part of a new development district (the “Site”) that will also be coordinated with the planning and development of property owned by Franklin County north of Broad Street. The effort will be cooperative and the City will provide ongoing input throughout the entire redevelopment process. The Development Team will, with input from the City, develop an approach to the RFP process and timeline, and the order of parcels and phases for development of the Site, and create and conduct a public RFP process to select one or more private developers.
FISCAL IMPACTS
There is no fiscal impact for this legislation.
Title
To authorize the Director of the Department of Development to enter into an Economic Development Agreement with Scioto Peninsula Holdings Ltd and Columbus Downtown Development Corporation for the redevelopment of the City-owned property on the Scioto Peninsula.
Body
WHEREAS, the City desires the Development Team to redevelop the City-owned property on the Scioto Peninsula which has the general boundaries of West Broad Street, Belle Street, the Scioto River, and the railroad tracks, as part of a new development district (the “Site”) that will also be coordinated with the planning and development of property owned by Franklin County north of Broad Street. The effort will be cooperative and the City will provide ongoing in...
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