Explanation
Background: This legislation authorizes the Director of the Department of Development and the Director of the Department of Recreation and Parks to enter into an Economic Development Agreement with Wagenbrenner Development (hereinafter referred to as the “Developer”), concerning the redevelopment of approximately 300 acres of real property located at the northeast corner of Dublin Road and Trabue Road (the “Site”).
The development project has been undertaken in cooperation and partnership with the City of Columbus and Franklin County Metro Parks (hereinafter referred to as “Metro Parks”), to result in the redevelopment of the Site that includes the construction of approximately 20,000 square feet of Class A office space, 600 multi-family housing units, 440 single family homes and condominiums and up to 50,000 square feet of retail space.
The Developer will work in partnership with the City and Metro Parks to acquire 220 acres of green space and construct a unique urban metro park for the community.
The Economic Development Agreement will outline the plans and certain commitments of both parties relating to the development.
Fiscal Impact: There is no fiscal impact for this legislation.
Emergency Justification: This legislation is submitted as an emergency measure in order to enable the Director of the Department of Development and the Director of the Department of Recreation and Parks to enter into an Economic Development Agreement with the Developer to allow appropriate time for the Developer to close real estate transactions before the end of December, 2017, and to coincide with the timing of the design and construction of both public and private improvements occurring on the Site.
Title
To authorize the Director of the Department of Development and the Director of the Department of Recreation and Parks to enter into an Economic Development Agreement with Wagenbrenner Development concerning the redevelopment of approximately 300 acres of real ...
Click here for full text