Explanation
BACKGROUND: This ordinance authorizes the Director of the Department of Development to enter into an Economic Development Agreement with the Village of Lockbourne. The purpose of the agreement is for an expanded growth area within the formerly exclusive Columbus Growth area such that the Village of Lockbourne would have the right to annex property in the area. The ordinance also authorizes the Director of Development to enter into an Economic Development Agreement with the City of Lockbourne for the purpose of sharing income tax revenue generated within a portion of the Lockbourne Expansion, designated as the Revenue sharing Area.
The City of Columbus and the Village of Lockbourne recognize the importance of planning for future growth of the two communities and working cooperatively on issues relating to economic development as well as to utilize community resources to provide for responsible growth and development opportunities beneficial to both Columbus and Lockbourne.
Emergency action is requested to allow the City of Columbus and the Village of Lockbourne to enter into an Economic Development Agreement to provide uninterrupted services in the promotion of economic development.
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 Village of Lockbourne for the purpose of expanding the growth area within the formerly exclusive Columbus Growth area such that the Village of Lockbourne will have the right to annex property in the area and the City of Columbus and the Village of Lockbourne would share the income tax revenue generated within a portion of the Lockbourne Expansion, designated as the Revenue Sharing Areas; and to declare an emergency.
Body
WHEREAS, the City of Columbus and the Village of Lockbourne would like to enter into an Economic Development Agreement for the purpose of expanding t...
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