Explanation
Background: In order for property to be included in a tax increment financing authorized under Section 5709.41, 5709.42 and 5709.43 of the Ohio Revised Code (collectively, the TIF Statutes) and to support that property’s redevelopment, the City must have previously held title to that property. And, to include “residential” improvements in a tax increment financing (TIF) under the TIF Statutes the property must be in a “blighted” area of an “impacted city” (both as defined in the TIF Statutes). The purpose of this Ordinance is satisfy these preconditions under that Section 5709.41 by authorizing the Director of the Department of Development to execute documents to allow the City to accept title to certain parcels of real property (the “Vine Site”) and to transfer the properties back to the current owners to satisfy the requirement that the City be in the chain of title for the purpose of creating tax increment financing (“TIF”) pursuant to the TIF Statutes. The further purpose of this Ordinance is to make findings of “blight” conditions on certain property to permit the TIF to include “residential” improvements that may be made in connection with the redevelopment of that property. The TIF Ordinance will be submitted to City Council at a later date.
Emergency action is necessary in order to satisfy the preconditions for the establishment of a TIF Ordinance for the redevelopment of the property and creation of new job opportunities without delay.
Fiscal Impact: There is no expenditure of City funds associated with the matters approved in this Ordinance.
Title
To authorize and direct the Director of the Department of Development to accept title to certain properties located in an area east of Neil Avenue, north of Columbus Convention Center Drive, south of Spruce Street and west of North Front Street and to quit claim title of those properties back to their current owners, reserving easement rights for any existing City owned utilities, and to make other findings necessary to permit any residential redevelopment of those parcels to be included in a tax increment financing approved under Sections 5709.41, 5709.42 and 5709.43 of the Ohio Revised Code; and to declare an emergency.
Body
WHEREAS, the City is committed to encouraging the redevelopment of certain property within the City limits, including the property depicted and described on attached Exhibit A (the “Goodale Site”) and on attached Exhibit B (the “Vine Site” and, together with the Goodale Site, the “Property”); and
WHEREAS, the City desires to support and facilitate the redevelopment of the Vine Site, including for “residential” purposes, by including it in a tax increment financing (“TIF”) to be authorized by this Council under Section 5709.41 of the Ohio Revised Code (the “TIF Ordinance”); and
WHEREAS, to comply with the requirements of Section 5709.41 of the Ohio Revised Code for a TIF the City must have held fee title to any property prior to the adoption of that TIF Ordinance;
WHEREAS, it is therefore necessary for the City to execute certain documents to accomplish the acceptance and subsequent transfer back to the current owners of the Vine Site prior to the City’s enactment of the TIF Ordinance; and
WHEREAS, under Section 5709.41 of the Ohio Revised Code, in order to preserve the opportunity for the TIF Ordinance to include “residential” improvements those residential improvements must be made in a “blighted area” of an “impacted city”, each as defined in the TIF Statutes; and
WHEREAS, the City Department of Development has received and reviewed a TIF Eligibility Report on the Property which concludes that the Property is in a “blighted area”, and that Report has been submitted to this Council (attached as Exhibit C); and
WHEREAS, the Director of the Ohio Development Services Agency has certified Columbus to be an “impacted city” within the meaning of the Sections 5709.41 and 1728.01 of the Ohio Revised Code; and
WHEREAS, an emergency exists in the usual daily operations of the Department of Development in that it is necessary to proceed as quickly as possible to take actions necessary as preconditions for the establishment of a TIF Ordinance for the redevelopment of the Property to create new job opportunities and for the preservation of the public health, peace, property and safety; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION I. That the Director of the Department of Development (the “Director”) is hereby authorized and directed to accept, on behalf of the City, quit claim deeds granting to the City fee title of the parcels comprising the Vine Site, and to timely transfer said properties back to the current owners pursuant to Section 2.
SECTION 2. That the Director is hereby authorized and directed to execute such quit claim deeds, as approved by the Real Estate Division of the Department of Law, and all additional documents as may be necessary, and to take any other required action, to timely transfer title of the parcels comprising the Vine Site back to the current owners, subject to the reservation of easement rights for existing City owned utilities. Any such transfer shall be made for no monetary consideration.
SECTION 3. This Council finds, based on the findings in the TIF Eligibility Report, that the Vine Site and the Goodale Site, individually and together, constitute a “blighted area” as defined in Sections 5709.41, 1728.01, and 1.08 of the Ohio Revised Code.
SECTION 4. For the reasons stated in the Preamble hereto, which is hereby made a part hereof, this Ordinance is hereby declared to be an emergency measure and shall take effect and be in force from and after its passage and approval by the Mayor or ten days after the passage if the Mayor neither approves nor vetoes the same.