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File #: 1858-2019    Version: 1
Type: Ordinance Status: Passed
File created: 6/28/2019 In control: Finance Committee
On agenda: 7/22/2019 Final action: 7/25/2019
Title: To authorize the Finance and Management Director, on behalf of the City, to enter into a Contribution Agreement with the Confluence Community Authority, regarding their cooperation in the financing of Project Costs, other than Stadium Costs.
Explanation
This ordinance authorizes the City of Columbus (“City”) to enter into a Contribution Agreement (“Agreement”) with the Confluence Community Authority (“Authority"), to provide for the timing and other mechanics relating to all or a portion of the City Contribution or other amounts to be contributed through the Authority to pay for Project Costs, other than Stadium Costs, as defined in the Development Agreement authorized by Ordinance 1730-2019.

The Authority is a New Community Authority to be organized pursuant to Chapter 349 of the Ohio Revised Code for the purposes of owning and operating a new stadium for the Columbus Crew SC, undertaking private development activities on property adjacent to the new stadium, and developing infrastructure necessary to fulfill the needs of both projects, which are or will be located in the Confluence Community Authority District.

On July 1, 2019, pursuant to Ordinance No. 1730-2019, City Council authorized the Development Director to enter into a Development Agreement with Franklin County (“County”) and Crew SC Stadium Company, LLC (“Developer”) regarding the proposed financing, development, construction, operation and occupancy of the Stadium, the redevelopment of the MAPFRE Stadium site into a practice facility and training complex for Columbus Crew SC and a community sports campus that will include a community recreation facility and playing fields (“Community Sports Park”), and the development of a mixed-use development project adjacent to the Stadium (“Mixed-Use Development”), collectively, the “Project.” It was the intent of the City, County and the Developer that immediately upon the formation of the Authority, that the Authority would become a party to the Development Agreement and that the City and the Authority would enter into a Contribution Agreement to provide for the timing and other mechanics relating to all or a portion of the City’s Contribution or other amounts to be contributed through the Author...

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