Explanation
BACKGROUND: This legislation is to request the Council to approve the Petition and the Amended and Restated Articles of Incorporation (Attached) of the Franklinton Special Improvement District of Columbus, Inc., an Ohio not-for-profit corporation.
Chapter 1710 of the Ohio Revised Code, effective September 29, 1994 provides for the creation of Special Improvement Districts, by non-profit corporations governed by trustees elected by the property owners for the provision of special services in a designated district.
In 2020, the Franklinton SID was reauthorized for a five-year period ending in 2026.
The property owners have initiated a one petition process in which the owners of at least 60% of the front footage of all real property located within the District signed, acknowledging that they are interested in the creation of Special Improvement District and they approve of the Plan for Improvements and Services to be provided by the Franklinton SID.
The petition proposes to reauthorize the Franklinton SID for an additional five-year period starting in 2026 and ending in 2031.
The petition and Amended and Restated Articles of Incorporation are on file with the Clerk of the Columbus City Council.
It is the intention of the Department of Development to enter into an agreement with the Franklinton SID to make a payment in lieu of taxes for eligible city-owned parcels in the Franklinton SID.
Emergency action is required to allow the Franklinton Special Improvement District of Columbus, Inc. to continue to establish a Special Improvement District in a timely manner.
FISCAL IMPACT: No funding is required for this legislation
Title
To approve the Franklinton Special Improvement District of Columbus, Inc. Petition and Amended and Restated Articles of Incorporation; and to declare an emergency.
Body
WHEREAS, Chapter 1710 of the Revised Code, effective September 29, 1994 provides for the creation of Special Improvement District, by non-profit corporat...
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