Explanation
Background: The purpose of this ordinance is to amend Ordinance 3170-2019 to correct an error in the ordinance number and tax increment financing name referenced in Section 1. The ordinance numbers will change from 2356-98 passed on September 14. 1998 to 1648-2016 passed June 27, 2016 and the latter referenced tax increment financing name in Section 1 will change from Vine TIF Area No. 2 to Jaeger TIF Area No. 2. This amendment will allow for clear reference to the amended Exhibit A in Ordinance 1648-2016 as to which parcels were removed from the Jaeger TIF created pursuant to Ordinance 1648-2016 and then exempted in the Jaeger TIF Area No. 2 pursuant to Ordinance 3170-2019.
Emergency Justification:
Emergency legislation is requested in order to timely create the Stadium 41 TIF from the parcels remaining in the Jaeger TIF after some parcels were removed and placed in the Jaeger TIF Area No. 2, which will preserve the public peace, health, property, safety, and welfare.
Fiscal Impact: There is no fiscal impact from this amendment.
Title
To amend Ordinance 3170-2019 to correct an error in the number of the ordinances and latter name of the tax increment financing area referenced in Section 1; and to declare an emergency.
Body
WHEREAS, Ordinance 3170-2019 passed December 16, 2019, authorized Columbus City Council to remove certain parcels from the Jaeger TIF and to provide for 30 years a non-school one hundred percent (100%) tax increment financing exemption of the improvements to those same parcels pursuant to Sections 5709.41, 5709.42, and 5709.43 of the Ohio Revised Code; and
WHEREAS, it is necessary to amend Ordinance 3170-2019 to correct the number of the ordinances and latter name of the tax increment financing area referenced in Section 1; and
WHEREAS, an emergency exists in the usual daily operation of the City, in that it is immediately necessary to amend Ordinance 3170-2019 in order to timely create the Stadium 41 TIF from the parcels remaining in the Jaeger TIF after some parcels were removed and placed in the Jaeger TIF Area No. 2 described herein, which will preserve the public peace, health, property, safety, and welfare; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That ordinance 3170-2019 is hereby amended as follows:
SECTION 1. That Exhibit A to Ordinance No. 2356-98 1648-2016 passed on September 14. 1998 June 27, 2016, is hereby amended to remove from the Jaeger Site Tax Increment Financing Area all the Vine Jaeger TIF Area No. 2 Parcels or "Jaeger 2" Parcels shown on Exhibit A to this Ordinance, and the Department of Development shall prepare and attach to that Ordinance No. 2356-98 1648-2016 a substitute Exhibit A being the same as Exhibit A to this Ordinance reflecting those deletions.
SECTION 2. That for the reason stated in the preamble here to, 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.