Explanation
The annual City of Columbus (the “CITY”) Tax Incentive Review Council (the “TIRC”) was held on August 23, 2017 to evaluate the compliance status of the CITY’s property tax related incentives - Enterprise Zone Agreements, Post-1994 Community Reinvestment Area Agreements, Pre-1994 Community Reinvestment Areas and Tax Increment Finance Districts - for Reporting Year 2016. The Ohio Revised Code (under Section 5709.85) stipulates that on the basis of the determinations of the TIRC, on or before the first day of September of each year the TIRC must submit to the legislative authority written recommendations for continuation, modification or cancellation of each agreement. Additionally, a legislative authority that receives such recommendations must within sixty (60) days of receipt, hold a meeting and vote to accept, reject, or modify all or any portion of the recommendations.
In a memorandum from the Director of the Department of Development to Columbus City Council (“COUNCIL”) dated August 31, 2017, the results of the TIRC were presented and attached to this memorandum was the document “2017 Columbus TIRC Summary of Recommendations.” A meeting was held on September 1, 2017 between representatives from COUNCIL and the Department of Development to review the recommendations.
This resolution is requested to be considered to fulfill the stipulations set forth in Section 5709.85 of the Ohio Revised Code and by this resolution will accept the recommendations of the 2017 TIRC.
FISCAL IMPACT: No funding is required for this legislation.
Contact Name/Number: Bob Jones/645-7239
Title
To accept the recommendations of the 2017 Columbus Tax Incentive Review Council regarding the continuation, modification or cancellation of all property tax incentives based on the evaluation of Reporting Year 2016.
Body
WHEREAS, the annual City of Columbus Tax Incentive Review Council (the “TIRC”) was held on August 23, 2017 to evaluate the compliance status of the CIT...
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