Explanation
BACKGROUND: This ordinance authorizes the Director of the Department of Development to enter into an Economic Development Agreement with the City of Dublin. Columbus City Council, per ordinance number 0454-2009, passed on July 13, 2009, authorized the Director of the Department of Development to establish a “Revenue Sharing Area” within the “Negotiated Expansion Area” of the Water Service Contract and the Sewer Service Contract whereby Dublin would have exclusive rights to annex the property. The legislation also authorized the City of Columbus and Dublin to propose an Economic Development Agreement for the sharing of income tax revenue generated from the Revenue Sharing Area.
This ordinance would authorize the Director to enter into an Economic Development Agreement with the City of Dublin for the purpose of expanding the “Revenue Sharing Area” within the Columbus “Exclusive Service Area” of the Water Service Contract and the Sewer Service Contract in which Dublin would have the exclusive right to annex the property and the Parties would share net income tax generated within the expanded Revenue Sharing Area.
FISCAL IMPACT: No funding is required for this legislation.
Title
To authorize the Director of the Department of Development to enter into an Economic Development Agreement with the City of Dublin for the purpose of expanding the “Revenue Sharing Area” of the Water Service Contract and the sewer Service Contract in which Dublin would have the exclusive right to annex the property and the Parties would share net income tax generated within the expanded Revenue Sharing Area; and to declare an emergency.
Body
WHEREAS, Ordinance number 0454-2009, passed by Columbus City Council on July 13, 2009, authorized the Director of the Department of Development to enter into an Economic Development Agreement with the City of Dublin for the purpose of establishing the “Revenue Sharing Agreement’ within the “Negotiated Expansion Area” of th...
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