Explanation
Background: Ciminello Incorporated an Ohio Corporation (“Developer”), Romanelli & Hughes Corporate Office & Design Center (“Developer”), and PulteGroup Home Construction Company (“Developer”) owns approximately 55± acres of property to be redeveloped at 6450 Ulry Road (the “Developer Property”) in the northeast area of Columbus Pay as We Grow (PAWG) program. City Council passed Ordinance passed Ordinance 0741-2018 on March 29th 2018, thereby rezoning the Developer Property PUD-4 for Planned Unit Development District (Rezoning #Z17-048).
This legislation authorizes the Director of the Department of Development to enter into a Pay as We Grow Agreement (“Agreement”) with the Developer for the fulfillment of PAWG requirements.
The City and Developers agree that in lieu of the Developers making 163 residential unit Pay as We Grow payments to Columbus at the standard Northeast area rate of $2,300 per unit, Ciminello shall construct the Regional Improvements. Ciminello Incorporated will widen Ulry Road to three lane section instead of a turn lane.
In following the City's PAWG policy for the Northeast Area, the Developer shall: 1) encumber the Developer Property with a Declaration of Covenants and Restrictions for the Central College Community Development District (the "CCCDD Covenants"), subject to acceptance of the Developer Property within the CCCDD by the Central College Community Development Authority (the "CCCDA"). The CCCDD Covenants shall run with the land and shall require each current and future owner of all or any portion of the Developer Property to pay an annual Community Development Charge, as such term is defined in Section 349.01 of the Ohio Revised Code, to the CCCDA in an amount equal to 0.004 multiplied by the "Assessed Value" of such property for a period of twenty (20) years commencing one (1) year after the date of completion of the construction of the residential structures (as evidenced by a Certificate of Occupancy). Within ninety ...
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