Explanation
This ordinance authorizes the City to enter into a Memorandum of Understanding ("MOU") with Franklin County and JHAC Ventures, LLC with regard to the financing, development, construction, operation, and occupancy of a multi-purpose sports, community, entertainment, and cultural facility, and the redevelopment of the MAPFRE Stadium site into a Community Sports Park.
JHAC has proposed to purchase Columbus Crew SC, the approval of which by Major League Soccer (MLS) is contingent upon achieving an agreement between the City, JHAC, and Franklin County regarding the financing and development of a stadium site. To that end, an ownership group including Pete Edwards, Jr. and Dee and Jimmy Haslam, and public and private partners, including the City and Franklin County, have advanced a plan for a new commercial and residential development west of the Arena District that will be anchored by a new 20,000-seat stadium. The development will include 885 residential units, 20% of which will be designated as affordable units, and 270,000 square feet of commercial and office space to accommodate up to 1,300 employees.
In addition, the MOU also proposes the redevelopment of the existing MAPFRE Stadium site into a shared-use Community Sports Park. The Sports Park will provide access for more than 200,000 residents living within 3 miles of the facility to outdoor athletic fields, indoor turf fields, basketball courts, and programming space, as well as additional green space and will serve as the permanent practice facility and training complex for Columbus Crew SC.
Per the terms of the MOU, JHAC will commit over $400 million of private capital toward the development and construction of the project. JHAC is further committing to the use of prevailing wage, including a historic commitment to minority- and women-owned contractors, suppliers, and vendors.
The city will contribute $50 million for the design and construction of the Community Sports Park, the infrastructure ...
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