Explanation
BACKGROUND: This legislation authorizes the appropriation and expenditure of up to $1,000,000.00 and the Director of Development to enter into a contract with the Discovery Special Improvement District of Columbus, Inc. in an amount up to $1,000,000.00.
In 2003 the Discovery District Development Corporation asked Capitol South Community Urban Redevelopment Corporation to initiate an effort to work with Discovery District property owners to create a Special Improvement District (SID) on the east side of downtown. Property owners were surveyed and overwhelmingly were in support of seeing a proposal to create a SID. The SID was created for an initial five year period, was very successful and reauthorized in 2010 and again in 2015.
In 2020, a one petition process was initiated in which property owners representing at least 60% of the front feet within the District signed that they were interested in reauthorizing the SID and they approved of the Plan for Services delineating the services to be provided by the SID. The petition was accepted and approved by Columbus City Council’s Ordinance No. 0808-2020, passed May 4, 2020.
Subsequently, two additional Resolutions were approved by the City Council; 0068X-2020 on May 18, 2020 and 0101X-2020 on June 29, 2020. The final action as required by Chapter 1710 of the Ohio Revised code to reauthorize the SID, Ordinance 1893-2020, was approved by the City Council on September 14, 2020. Each assessment is to be returned to the SID for operational requirements as set forth in the Plan for Services.
This legislation disburses assessments to be collected in fiscal year 2021 to be returned to the SID.
Emergency action is requested to continue services without interruption.
FISCAL IMPACT: Funds for this expenditure will be received from the levy of assessments to be collected from property owners in the Discovery Special Improvement District. These funds are deposited into and expended from Discovery SID Fund (F...
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