Explanation
Background: The attached Ordinance amends Ordinance No. 1283-2009 passed October 19, 2009, to include certain additional parcels of real property in the Tax Increment Finance (TIF) area established by that Ordinance pursuant to Section 5709.41 of the Ohio Revised Code so that those parcels will be subject to the tax exemption granted in, and the related requirement to make service payments set forth in, that Ordinance.
Emergency action is required to allow the Developer to continue the revitalization of the TIF Area.
Fiscal Impact: No City funding is required for this legislation.
Title
To amend Ordinance 1283-2009 to include certain additional parcels of real property in the Weinland Park TIF area established by that Ordinance pursuant to Section 5709.41 of the Ohio Revised Code; and to declare an emergency.
Body
WHEREAS, this Council passed Ordinance No. 1283-2009 on October 19, 2009 (the “.41 TIF Ordinance”), thereby establishing a TIF area on certain parcels of real property located in the City of Columbus, Ohio (the “City”), pursuant to Section 5709.41 of the Ohio Revised Code (which parcels were identified in Exhibit A-1to that .41 TIF Ordinance and are referred to herein as the “.41 Parcels”); and
WHEREAS, as contemplated in the .41 TIF Ordinance, this Council has determined to amend the .41 TIF Ordinance to add the parcels of real property shown on Exhibit A to this Ordinance (the “Additional .41 Parcels”) as .41 Parcels and subject those parcels to the provisions of the .41 TIF Ordinance; and
WHEREAS, by Ordinance No. 1966-2008 passed January 26, 2009, this Council found the Additional .41 Parcels within “Area C” to be in a “blighted area” within the meaning of Section 1728.01 and 1.08 of the Ohio Revised Code and the Director of the Development Services Agency has certified that the City is an “impacted city” within the meaning of Section 1728.01 of the Ohio Revised Code; and
WHEREAS, notice of this proposed Ordinance has been deliv...
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