Explanation
BACKGROUND: This ordinance authorizes the Director of the Department of Development to enter into an Economic Development Agreement with Clinton Township. The Agreement is for the purpose of providing water and/ or sewer services to specific property in the Joint Economic Development Zone (JEDZ), providing financial support for the initiative, and the payment of income to the City of Columbus for designated property within the Joint Economic Development Zone (JEDZ).
The following parcels will be impacted by the Economic Development Agreement between the City of Columbus and Clinton Township:
1. Parcel #130-000001; Parcel #130-011916, and; Parcel #130-011917 - 3251 Westerville Road: The designated parcels will be used to construct manufacturing housing units and affordable housing units by the property owner, 3251 Westerville Road, LLC. The City of Columbus is contributing eight million, one hundred thousand dollars ($8,100,000.00) in support of the project to address the regional need for affordable housing. The City of Columbus will also provide additional and/or larger diameter water/sewer service to the site without the requirement of annexation. Clinton Township, in consideration of the eight million, one hundred thousand dollars ($8,100,000.00) contributed by the City of Columbus, will repay the City of Columbus the equivalent of 80% of the income tax revenue received by Clinton Township from 3251 Westerville Road levied by the JEDZ income tax for this project.
2. Parcel #130-011856 - Nationwide Children’s Hospital: The City of Columbus currently provides water and sewer services to the site and will provide additional and/or larger diameter water services, if needed, without the requirement of annexation to facilitate the newly established clinic. The utility services will not extend to new structures/development of the shopping center.
Shared Revenue: Clinton Township, in consideration of the eight million, one hundred thousand dol...
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