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File #: 0456-2020    Version: 1
Type: Ordinance Status: Passed
File created: 2/11/2020 In control: Economic Development Committee
On agenda: 2/24/2020 Final action: 2/27/2020
Title: To amend the 2019 Capital Improvement Budget; to authorize the City Auditor to appropriate and transfer funds from the Special Income Tax to the Development Taxable Bond Fund; to authorize the expenditure of $13,000,000.00, from the Development Taxable Bond Fund, to the Confluence Community Authority; and to declare an emergency. ($13,000,000.00)
Attachments: 1. Ord. 0456-2020 DAX Attachment
Explanation

BACKGROUND: This legislation authorizes the appropriation and expenditure of $13,000,000 pursuant to the Contribution Agreement with the Confluence Community Authority, which was authorized by Ordinance 1858-2019 and approved by Columbus City Council on July 22, 2019.
The Confluence Community Authority (or “Authority”) is a New Community Authority that has been 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, facilitating the redevelopment and improvements to the area around the MAPFRE Stadium site that will include a new Community Sports Park and training facility, and developing infrastructure necessary to fulfill the needs of the projects.

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 Authority.

As such, Ord 1858-2019 was passed, which ...

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