Explanation
This Ordinance amends Ordinance 2781-2018 to expand the existing AC Humko Community Reinvestment Area boundaries. The need exists to expand the current boundaries to encourage new housing construction and the repair of existing facilities or structures. All exhibits referenced in this Ordinance are on file with the City Clerkâs office.
FISCAL IMPACT: No City funding is required for this legislation.
Title
To amend the AC Humko Community Reinvestment Area to modify its geographic boundaries.
Body
WHEREAS, the City of Columbus has established a goal of fostering private sector investment to build mixed income neighborhoods dispersed throughout the City; and
WHEREAS, Resolution No. 1698-78, approved August 3, 1978, authorized the Department of Development to carry out a Community Reinvestment Program, pursuant to Sections 3735.65 to 3735.70 of the Ohio Revised Code, and approved certain administrative procedures for the program; and
WHEREAS, Ordinance 1841-2005 created the AC Humko Community Reinvestment Area and authorized real property tax exemptions within it, as provided per Ohio Revised Code; and
WHEREAS, the boundaries of the AC Humko Community Reinvestment Area have been amended (and/or other amendments of Ordinance 1841-2005 have been made) since its creation by; Ordinance 3098-2015; Ordinance 2185-2018;; and
WHEREAS, Ordinance 2185-2018 amended the AC Humko CRA to adopt the revised residential incentive policy codified in Chapter 4565 of the Columbus City Code; and
WHEREAS, the need exists to modify the current geographic boundaries of the AC Humko CRA to encourage new housing construction and the repair of existing facilities or structures; and
WHEREAS, an updated housing survey (Exhibit A), a list of parcels in the proposed Community Reinvestment Area (Exhibit B), and a map (Exhibit C) as required by Ohio Revised Code (ORC) Section 3735.66 have been prepared and are attached to this Ordinance.
NOW, THEREFORE, BE IT ORDAINED BY THE COU...
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