Explanation
BACKGROUND: Ordinance 1699-2020 (the “Rezoning Ordinance) rezoned the property near the northwest corner of the intersection of West Broad Street and Doherty Road and generally located at 5960 West Broad Street (tax parcel ID 570-184818, the “Developer Property”) owned by Crown Pointe, LLC, (“Crowne Pointe”), an affiliate of Metro Development, LLC (“Metro”). Pursuant to Ordinance 2535-2020, the Director of the Department of Development (the “Director”) entered into a development agreement dated December 1, 2020 (the “Big Darby Agreement”) with Metro to outline the plans and respective commitments of the City and Metro including establishing the Big Darby West Broad Street New Community Authority (the "Authority") in relation to the Developer Property. On April 7, 2021, a petition for the organization of the Authority (the “Petition”) was filed by Crown Pointe with the Clerk of City Council. By Resolution 0060X-2021, City Council, as the organizational board of commissioners described and required by Chapter 349 of the Ohio Revised Code (“Chapter 349”), determined the sufficiency of the Petition, authorized a public notice, and set a public hearing on the Petition for May 20, 2021. Resolution 0242X-2021 approved the Petition; established the Authority and the Big Darby West Broad Street New Community District; declared the Authority as a body politic and corporate within said district along with its associated board of trustees; and made the City’s initial appointments to the Authority’s board of trustees; and fixed surety for their bonds. To provide for more consistency between the Big Darby Agreement and the Petition, this legislation authorizes the Director to consent to an “Assignment and Assumption” to remove Crown Pointe and replace it with Metro as the “Developer,” as that term is defined in Chapter 349, under the Petition and Resolutions 0060X-2021 and 0242X-2021. Metro will assume the rights and obligations of Crown Pointe thereunder and herea...
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