Explanation
Background: Harmony Development Group, LLC and Pulte Homes of Ohio, LLC (collectively, “Developers”), will prospectively own 369.2 acres of property to be developed along Alton Darby Creek Road and Renner Road and generally located at 1980 Alton Darby Creek Road (“Developers’ Property”). The Development Commission approved the Developers’ application to rezone the property (Rezoning #Z18-058) in May 2019. The Developers’ Property is located in the Big Darby Watershed and is subject to the requirements of the Big Darby Revenue Program pursuant to Resolution 0216X-2008 adopted by Columbus City Council on April 20, 2019.
This legislation authorizes the Director of the Department of Development to enter into an Agreement (“Agreement”) with the Developers for the fulfillment of Big Darby Revenue Program requirements.
In following the City's Big Darby Revenue Program for the Big Darby Watershed, the Developers shall encumber the Developers' Property with a Declaration of Covenants and Restrictions for a New Community Development District (the "District Covenants"), to be created pursuant to program requirements. The District Covenants shall run with the land and shall require each current and future owner of all or any portion of the Developers’ Property to pay an annual Community Development Charge, as such term is defined in Section 349.01 of the Ohio Revised Code, to the New Community Development Authority in an amount equal to 0.0065 multiplied by the "Assessed Value" of such property for a period of thirty (30) 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 days of closing on the Developers’ Property, the City and Developers will commence to establish the New Community Development Authority in accordance with Chapter 349 of the Ohio Revised Code. In lieu of making one-time per unit contributions at a rate of $2,500 per unit for ...
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