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File #: 1414-2021    Version: 1
Type: Ordinance Status: Passed
File created: 6/1/2021 In control: Economic Development Committee
On agenda: 6/14/2021 Final action: 6/18/2021
Title: To appropriate and authorize the expenditure of $4,730.27 from the Old Dublin Road Public Improvement Equivalent Fund (7467) to the Tolles Career & Technical Center; to authorize the Director of Development to enter into a school compensation agreement with Tolles Career & Technical Center; and to declare an emergency. ($4,730.27)
Attachments: 1. ORD1414-2021 Account Codes Old Dublin Rd TIF Tolles School Compensation Agmt 5-21-21, 2. ORD1414-2021 Old Dublin Rd TIF Tolles School Compensation Agmt 5-20-21 DRAFT
Explanation
BACKGROUND: Pursuant to Ohio Revised Code (“R.C.”) Section 5709.40 to 5709.43 and as authorized by Ordinance 1237-2015, Council established the non-school Old Dublin Road TIF, required those property owners to make service payments, and established the Old Dublin Road Public Improvement Equivalent Fund (the “Old Dublin Road TIF Fund”) for the deposit of those service payments. The Old Dublin Road TIF was later expanded by Ordinance 3168-2019. R.C. Section 5709.42 requires the service payments to be collected in the same manner as real property taxes and to distribute those service payments to the applicable municipal corporation and school districts. However, unlike for city, local, or exempted village school districts, R.C. Section 5709.42 does not specify if the county treasurer or the municipal corporation is responsible for the distribution of the service payments to a public joint vocational school district (a “JVS”). The county treasurer distributed JVS service payments to the City unbeknownst to it. This legislation appropriates and authorizes the expenditure of service payments from the Old Dublin Road TIF Fund to the Tolles Career & Technical Center (“Tolles”), and authorizes the Director of Development to enter into a school compensation agreement with Tolles in order to come to terms on the remittance of JVS service payments to Tolles that were first distributed by the county treasurer to the City for deposit in the Old Dublin Road TIF Fund.

EMERGENCY JUSTIFICATION: Emergency action is requested in order to minimize the fiscal impact and to expedite payment to Tolles to compensate them for their service payments distributed by the county treasurer to the City.

FISCAL IMPACT: The City will remit $4,730.27 from the Old Dublin Road Public Improvement Equivalent Fund (7467) to Tolles.

Title
To appropriate and authorize the expenditure of $4,730.27 from the Old Dublin Road Public Improvement Equivalent Fund (7467) to the Tolles Career & Tech...

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