Explanation
Background: This legislation authorizes the Department of Development to enter into an Economic Development Agreement (the “EDA”) with 1489 Rohr Holding, LLC (the “Developer”). The Developer is proposing to construct a fifty six million dollars ($56,000,000) industrial/warehouse/distribution development including a minimum of approximately two million (2,000,000) square feet of industrial/warehouse/distribution space (the “Project”) on 229.993+/- acres located south of Rohr Road between the CSX railroad and Lockbourne Road. The Developer will finance the upfront costs of design and construction and cause to be designed/constructed additional site improvements, amenities, and regional public improvements. The Department of Development will submit for City Council consideration subsequent legislation to establish a non-school Tax Increment Financing (“TIF”) area including the site in order to support the reimbursement of the costs or financing of eligible public improvements necessary to support the development of the Project, and the Department of Development will submit for City Council consideration legislation for a property tax abatement of the Project that meets the terms set forth under for the Central Enterprise Zone (the “EZ”).
Fiscal Impact: There is no fiscal impact for this legislation.
Emergency Justification: Emergency legislation is necessary to allow the Developer to close on the site, maintain the project schedule, and to coincide with the established redevelopment timeline.
Title
To authorize the Department of Development to enter into an Economic Development Agreement with 1489 Rohr Holding, LLC to outline the plans and certain commitments of the City and Developer related to the proposed development of the real property currently known as Franklin County Auditor tax parcel ID numbers: 495-266702, 495-266703, and 495-266704 consisting of 229.993+/- acres located south of Rohr Road between the CSX railroad and Lockbourne Road; and to declare an emergency.
Body
WHEREAS, the Developer is proposing to acquire the real property currently known as Franklin County Auditor tax parcel ID numbers: 495-266702, 495-266703, and 495-266704 consisting of 229.993+/- acres located south of Rohr Road; and
WHEREAS, the Developer proposes to develop a fifty six million dollars ($56,000,000) industrial/warehouse/distribution development including a minimum of approximately two million (2,000,000) square feet of industrial/warehouse/distribution space (the “Project”); and
WHEREAS, in order to develop and support the Project, the Developer will finance the upfront costs of design and construction and cause to be designed/constructed additional site improvements, amenities, and regional public improvements (the “Public Improvements); and
WHEREAS, as part of a Public-Private Partnership (P3), the City's agreement to provide financial assistance through tax increment financing (TIF) for some of the Public Improvements currently needed to serve far south Columbus near Rickenbacker International Airport and an enterprise zone (EZ) tax abatement is contingent upon authorization pursuant to subsequent adoption of appropriate legislation by Columbus City Council; and
WHEREAS, the City and Developer desire to memorialize their understanding and agreements with respect to their cooperation on the Project and Public Improvements in an Economic Development Agreement (the “EDA”); and
WHEREAS, an emergency exists in the usual daily operations of the Department of Development in that it is immediately necessary to proceed with the execution of said EDA described herein to allow the Developer to close on the real estate for the Project and to meet the development timeline of the private Project and Public Improvements, all for the preservation of the public health, peace, safety and welfare without delay; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the Director of the Department of Development or his designee on behalf of the City is hereby authorized to enter into an Economic Development Agreement presently on file with the Department, along with any changes or amendments thereto not inconsistent with this Ordinance and not substantially adverse to the City and which shall be approved by the Director and the City Attorney, provided that the approval of such changes and amendments thereto, and the character of those changes and amendments not being substantially adverse to the City, shall be evidenced conclusively by the execution and delivery of the Economic Development Agreement with 1489 Rohr Holding, LLC to outline the plans and certain commitments of the City and Developer relating to the proposed development of the real property currently known as Franklin County Auditor tax parcel ID numbers: 495-266702, 495-266703, and 495-266704 consisting of 229.993+/- acres located south of Rohr Road between the CSX railroad and Lockbourne Road near Rickenbacker International Airport in far south Columbus.
Section 2. That for 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 passage if the Mayor neither approves nor vetoes the same.