Explanation
This resolution declares the necessity of levying special assessments on the Special Benefit District described in the Petition in order to partially fund the construction of a parking garage at the southeast corner of the intersection of Fourth and Elm Streets in Downtown Columbus. The special assessments will be collected over 30 years in an amount equaling $365,000 annually. The City anticipates issuing bonds to pay for the construction of the parking garage, and the construction of the parking garage is set to begin in mid to late 2008.
Title
A resolution declaring the necessity of acquiring, constructing, installing, equipping, or improving off-street parking facilities at the southeast corner of the intersection of Fourth and Elm Streets, and acquiring interests in the site thereof, together with all necessary and proper appurtenances, and declaring an emergency.
Body
WHEREAS, the owners of the properties anticipated to pay in the aggregate more than 75% of the total special assessments to be assessed to pay a portion of the costs of the improvement described in Section 2 hereof have executed and filed with this Council a petition (the "Petition") requesting such improvement;
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Columbus that:
Section 1. Capitalized terms not otherwise defined herein shall have the meaning assigned to each term in the Petition filed with the Clerk of Council, which Petition is hereby accepted, ratified, adopted and approved and is incorporated into this Resolution as if set forth in full herein. Such Petition shall be substantially in the form of petition attached hereto as Appendix A.
Section 2. It is hereby declared necessary to acquire, construct, install, equip, or improve in the City of Columbus, Ohio (the "City") off-street parking facilities at the southeast corner of the intersection of Fourth and Elm Streets, and to acquire interests in the site thereof, together wit...
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