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Home My WebLink About144-02 Ordinance ORDINANCE NO. 144-02 AN ORDINANCE AMENDING ORDINANCE NO. 44-94 PASSED MAY 16, 1994 TO SUPPLEMENT THE PUBLIC IMPROVEMENTS TO BE MADE TO BENEFIT THE PARCELS IDENTIFIED IN THAT ORDINANCE AND PROVIDE FOR PAYMENT OF A PORTION OF THE SERVICE PAYMENTS RECEIVED TO THE DUBLIN CITY SCHOOL DISTRICT, AND DECLARING AN EMERGENCY. (Duke TIF) WHEREAS, pursuant to Ohio Revised Code Sections 5709.40, 5709.42 and 5709.43, this Council on May 16, 1994 passed Ordinance No. 44-94 (the TIF Ordinance) thereby declaring improvements to parcels of certain real property located in the City (as described and depicted in the TIF Ordinance and referred to therein as the Property) to be a public purpose, exempting those improvements from real property taxation for a period of time, specifying public infrastructure improvements (as described in the TIF Ordinance and referred to therein as the Infrastructure Improvements) to be made to benefit those parcels, providing for the making of service payments in lieu of taxes (the Service Payments) by the owner(s) thereof, and establishing a municipal public improvement tax increment equivalent fund (the Fund) into which those Service Payments were to be deposited; and WHEREAS, this Council desires to specify additional public infrastructure improvements benefiting those parcels and provide for payments to the Dublin City School District equal to the amounts that School District would otherwise receive as real property tax payments; and WHEREAS, notice of this amendment to the TIF Ordinance has been timely delivered to the Dublin City School District and the Central Ohio Joint Vocational School District in accordance with Ohio Revised Code Section 5709.83; NOW, THEREFORE, BE IT ORDAINED by the Council of the City of Dublin, Delaware, Franklin and Union Counties, Ohio, that: Section 1. Section 1 of the TIF Ordinance is hereby amended to provide as follows: "Section 1. Pursuant to and in accordance with the provisions of Ohio Revised Code Section 5709.40, this Council hereby finds and determines that 100% of the increase in true value of the Property subsequent to the effective date of this ordinance (which increase in true value is hereinafter referred to as the "Improvement" as defined in Section 5709.40) is a public purpose, and all of said Improvement is hereby declared to be a public purpose for a period of 30 years and exempt from taxation commencing on the date of passage of this ordinance and ending on the earlier of 30 years from such date or on the date on which the City can no longer require service payments in lieu of taxes under Section 5709.40 and 5709.42 of the Revised Code, all in accordance with the requirements of said Sections 5709.40 and 5709.42. (i) Pursuant to Ohio Revised Code Sections 5709.40 and 5709.42, the Franklin County Treasurer shall distribute to the Dublin City School District from those payments in lieu of taxes provided for in Section 3 of this Ordinance, and at the same time and in the same manner as real property tax payments, amounts equal to the amounts that School District would otherwise receive as real property tax payments derived from the Improvement absent the passage of this Ordinance; and (ii) The remaining monies shall be deposited into the Fund and used for the purposes set forth in subsections 4(i) and (ii) of this Ordinance." Section 2. Existing Section 1 of the TIF Ordinance is hereby repealed. Section 3. The public infrastructure improvements set forth in Exhibit B to the TIF Ordinance and to be made or caused to be made by the City shall also include the relocation and burying underground of overhead cables, wires and the appurtenant equipment which benefits, or that once made will benefit, the Property (as defined in the TIF Ordinance). Section 4. Except as provided herein, all other provisions of the TIF Ordinance shall remain in full force and effect and the City Manager and Director of Finance are directed to make such arrangements as are necessary and proper for collection of the Service Payments. The City Manager and the Director of Finance are authorized to prepare or cause to be prepared and to submit to this Council for approval any amendments or supplements to that certain Tax Increment Financing Agreement between the City and Duke Realty Limited Partnership, which amendments or supplements may be in the form of a separate agreement, and providing for the payment of further costs of the Public Infrastructure Improvement permitted and contemplated by this Ordinance. Those City officials are further authorized to provide such information and to execute, certify or furnish such other documents, and to do all of the things as are necessary for and incidental to carrying out the provisions of this Ordinance. Section 5. Pursuant to Section 5709.40 of the Ohio Revised Code, the Clerk of Council is hereby directed to deliver a copy of this Ordinance to the Director of the Department of Development of the State of Ohio within fifteen days after its passage. Section 6. This Council finds and determines that all formal actions of this Council concerning and relating to the passage of this Ordinance were taken in an open meeting of this Council and that all deliberations of this Council that resulted in those formal actions were in meetings open to the public in compliance with the law. Section 7. This Ordinance is declared to be an emergency measure necessary for the immediate preservation of the public peace, health, safety and welfare of the City, and for the further reason that this Ordinance is required to be immediately effective in order that the tax increment financing authorized in the TIF' Ordinance may continue uninterrupted and provision may be made for the additional Infrastructure Improvements to be constructed as quickly as possible; wherefore, this Ordinance shall be in full force and effect immediately u ge. Si residing n~ icer Attest: l~^•^""'G.~ Clerk of Council Passed: ~Z.C- , 2002 Effective: , 2002 Office of the City Manager 5200 Emerald Parkway • Dublin, OH 43017 Phone: 614-410-4400 • Fax: 614-410-4490 fl'fP OF DUBLIN M e m o To: Members of Dublin City Council From: Jane S. Brautigam, City Managen~~,,,w..5. f,d,c.,~.p,~,,,...` Date: December 2, 2002 Initiated By: Marsha I. Grigsby, Assistant City Manager/Director of Finance. A`~~'~- Re: Ordinance No. 144-02, An Ordinance Amending Ordinance No. 44-94 Passed May 16, 1994, To Supplement The Public Improvements To Be Made To Benefit The Parcels Identified In That Ordinance And Provide For Payment Of A Portion Of The Service Payments Received To The Dublin City School District, And Declaring An Emergency.(DukeTIF) SUMMARY: As discussed at the November 18, 2002 City Council meeting and as directed by Resolution No. 41-02, the administration has worked with Squire, Sanders & Dempsey, LLC, the City's bond counsel, to prepare legislation amending the original legislation establishing the Duke tax increment financing (TIF) district. This amendment identifies additional public infrastructure improvements that will benefit the TIF district parcel. The additional public infrastructure improvements include the relocation and burying underground of overhead cables, wires and the appurtenant equipment which benefit, or will benefit, the TIF parcel once made. These improvements include American Electric Power's (AEP) 138 KV transmission line project that is needed to resolve current and future electric needs of the City, including the parcel within the TIF district. This Ordinance also provides for the implementation of a "non-school" TIF after the City is reimbursed for the public infrastructure improvements that were installed under the terms of Ordinance No. 44-94. Ordinance No. 44-94 was a "straight" TIF which means the City has been receiving 100% of the revenue (service payments) generated from the private improvements constructed within the District. The City has been reimbursed for the costs associated with the original public infrastructure improvements with the collection of the service payments received in 2002. Ordinance No. 144-02 will allow the TIF authorized in Ordinance No. 44-94 to continue uninterrupted and the City to continue to receive "non-school" service payments. These "non- school" service payments will be utilized to reimburse the City for 50% of the defined "additional" costs, estimated to be $1,286,000, associated with the desired route and placement of the 138 KV transmission lines to be installed by AEP. Based on 2001 tax year (2002 calendar year) information, it is estimated that $85,700 in "non- school" service payments will be generated annually from the TIF district. We intend to utilize the Duke TIF to fund $643,000 of the City's estimated project costs of $1,286,000, this will result in the TIF being extended for a period of eight years. RECOMMENDATION: It is recommended that Ordinance No. 144-02 be adopted as an emergency at the December 9, 2002 City Council meeting. Emergency adoption is necessary in order that the TIF authorized in Ordinance No. 44-94 may continue uninterrupted. 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THOMASIKOHLER ~ sln~xaR~ 8. MCKITRICK 15. DUKE REALTY INVESTMENT s~r~wl~c~oKs 7. EMBASSY SUITES 18. RINGS ROAD 8. COOKER RESTAURANTS 17. CARDINAL HEALTH -SOUTH CAMPUS no~+5aaar¢ 9. LEE'S INN 18. RINGSIFRANTZ CAMPU8 79. HISTORIC DUBLIN PARKING N Ci of Dublin by the C~jr of Dublin Division of Information Technology TI F Parcels geographic Information stems 0 3500 7000 December 2002 n YJ l1U%~iU' L ~ ~