Explanation
Background: Pursuant to Resolution 0183X-2005 and Resolution 0039X-2006 adopted by Council, the City approved the Big Darby Accord Plan Principles and its later revisions. Pulte Homes of Ohio, LLC and Harmony Development Group, LLC (together, the “Developers”) purchased or have options to purchase ±369.2 acres within Columbus near the intersection of Alton & Darby Creek Road and Renner Road (the “Developers’ Property”) in order to construct 525 single family homes and 220 multi-family units to the north of Renner Road valued at approximately $226 million and to construct 147 single family homes and 196 multi-family units south of Renner Road valued at approximately $100 million in addition to $70 million for public infrastructure improvements serving both areas. Consistent with the Big Darby Accord Watershed Master Plan and Ordinance 1685-2020 rezoning the Developers’ Property, the parcels are subject to the requirements of the “Big Darby Revenue Program” adopted by Council under Resolution 0216X-2008. Pursuant to Ordinance 1557-2020 passed by Council, the Director of the Department of Development entered into a Big Darby Development Agreement dated March 10, 2021 with the Developers to outline the plans and respective commitments of the City and the Developers for the fulfillment of the Big Darby Revenue Program including establishing new tax increment financing for parts of the Developers’ Property.
This Ordinance establishes two tax increment financing (“TIF”) incentive districts under Ohio Revised Code (“ORC”) Section 5709.40(C). One proposed TIF incentive district encompasses the ±256.25-acre Franklin County Tax ID Parcel No. 203-299511 to the north of Renner Road less the new ±13.886-acre parcel of real property to be split from Parcel No. 203-299511 (the remaining ±242.36-acre parcel, the “Sugar Farm 40(C) Parcel”), the boundaries of which shall be coextensive with the boundary of the Sugar Farm 40(C) Parcel as may be further modified or suppl...
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