Explanation
BACKGROUND: This Council is being asked to approve the Plan of Services to be provided by the 5th and 4th Street Special Improvement District of Columbus, Inc.; and to declare an emergency.
This legislation is the second of the four actions required by Chapter 1710 of the Ohio Revised Code. City Council must approve the Initial Plan for Improvements and Services (attached) of the 5th and 4th Street Special Improvement District of Columbus, Inc., an Ohio not-for-profit corporation, organized pursuant to Chapter 1702.10 of the Revised Code.
A piece of companion legislation is being presented simultaneously that approves the Petition and Amended and Restated Articles of Incorporation that 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 5th/4th SID to make a payment in lieu of taxes for eligible city-owned parcels in the 5th/4th SID.
Emergency action is requested to allow the 5th/4th SID to continue the reauthorization of their Special Improvement District without interruption and to continue the SID approval and special assessment process in a timely manner.
FISCAL IMPACT: No funding is required for this legislation.
Title
To approve the plan of services to be provided by the 5th and 4th Street Special Improvement District of Columbus, Inc.; to approve the properties of the municipal corporation in said plan of service; and to declare an emergency.
Body
WHEREAS, the property owners located in the 5th and 4th Street Special Improvement Development area have initiated a petition to authorize the SID and have filed the petition with the Clerk of the Columbus City Council along with the Amended and Restated Articles of Incorporation of the 5th and 4th Street Special Improvement District of Columbus, Inc., an Ohio non-profit corporation to be responsible for the operation of the SID; and
WHEREAS, a companion piece of the legislation being pr...
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