Explanation
This ordinance authorizes the City to amend a Development Agreement with Franklin County (“County”), Confluence Community Authority (“Authority”), Crew SC Development Company, LLC (“DeveloperCo”), and Crew SC Stadium Company, LLC (“StadCo”), collectively, the “Parties,” dated July 3, 2019, and subsequent First Amendment to Development Agreement dated December 19, 2019 (collectively, the “Agreement”). The Agreement outlines certain mutual commitments of the Parties related to the financing, development, construction, operation, and occupancy of a new multi-purpose sports, entertainment, cultural and recreational facility (“Stadium”), the redevelopment of the MAPFRE Stadium site into a practice facility and training complex for Columbus Crew SC (“Crew”) and a community sports campus that will include a community recreation facility and playing fields (“Community Sports Park”), and the development of a project containing mixed-use retail, entertainment, residential, hospitality, office and/or commercial uses (“Mixed-Use Development”) adjacent to the Stadium (collectively, the “Project.”)
The First Amendment to Development Agreement joined the Authority and DeveloperCo as parties to the Agreement, and assigned all of the rights and obligations of StadCo under the Agreement to DeveloperCo.
The Second Amendment to the Development Agreement (“Second Amendment”) will amend the Agreement to memorialize DeveloperCo’s Workforce Housing commitment. As part of the Mixed-Use Development known as Astor Park (formerly Confluence Village), DeveloperCo commits to making ten percent of the residential units affordable to households earning 80% of the Area Median Income (AMI) and an additional ten percent affordable to households earning 100% of the Area Median Income (AMI). The Second Amendment will also memorialize the City’s commitments related to the public infrastructure project within Astor Park as well as certain modifications thereto, the timing and funding ...
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