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HomeMy WebLinkAbout105-03 Ordinance RECORD OF ORDINANCES Dayton Legal Blank, Inc. Form No. 30043 Ordinance No. 105-03 Passed 20 AN ORDINANCE DECLARING IMPROVEMENTS TO CERTAIN REAL PROPERTY TO BE A PUBLIC PURPOSE, DESCRIBING THE PUBLIC INFRASTRUCTURE IMPROVEMENTS TO BE MADE TO BENEFIT THAT PARCEL, REQUIRING THE OWNER THEREOF TO MAKE SERVICE PAYMENTS IN LIEU OF TAXES, ESTABLISHING A MUNICIPAL PUBLIC IMPROVEMENT TAX INCREMENT EQUIVALENT FUND FOR THE DEPOSIT OF SUCH SERVICE PAYMENTS AND PROTECTING THE DUBLIN CITY SCHOOL DISTRICT AND THE HILLIARD CITY SCHOOL DISTRICT AGAINST ANY LOSS OF TAX REVENUE, AUTHORIZING THE EXECUTION OF A TAX INCREMENT FINANCING AGREEMENT. WHEREAS, Kinetics Noise Control, Inc. (the "Owner") now owns certain parcels of real property (a depiction of which is attached hereto as Exhibit A and referred to herein as the "TIF Area", with the parcels comprising the real property within the TIF Area referred to herein as the "Parcels" and each individually as a "Parcel") which are located in the City; and WHEREAS, the Owner, or its successors or assigns, has or will develop various commercial projects in the TIF Area (collectively, the "Project") and this Council expects to make the public infrastructure improvements described on Exhibit B hereto, that once made will directly benefit the TIF Area; and WHEREAS, Ohio Revised Code Sections 5709.40, 5709.42 and 5709.43 provide that this Council may declare improvements to a parcel of real property located in the City to be a public purpose, thereby exempting those improvements from real property taxation for a period of time, specify public infrastructure improvements to be made to benefit that parcel, provide for the making of service payments in lieu of taxes by the owner thereof, provide for the distribution of the applicable portion of those service payments to the overlapping Dublin City School District and the Hilliard City School District and establish a municipal public improvement tax increment equivalent fund into which such service payments shall be deposited; and WHEREAS, the City has determined that it is necessary and appropriate and in the best interests of the City to provide for service payments in lieu of taxes with respect to the TIF Area pursuant to Section 5709.42 of the Ohio Revised Code; and WHEREAS, the City has determined that a portion of the service payments shall be paid to the Dublin City School District, Ohio in an amount equal to the real property taxes that the Dublin City School District would have been paid if improvements to the Parcels located in the Dublin City School District had not been exempted from taxation pursuant to this Ordinance; and WHEREAS, the City has determined that a portion of the service payments shall be paid to the Hilliard City School District, Ohio in an amount equal to the real property taxes that the Hilliard City School District would have been paid if improvements to the Parcels located in the Hilliard City School District had not been exempted from taxation pursuant to this Ordinance; and WHEREAS, this Council has determined to provide for the execution and delivery of a Tax Increment Financing Agreement to provide for the development of the TIF Area; and WHEREAS, this Council finds and determines that notice of this proposed Ordinance has been delivered to all affected school districts in accordance with Sections 5709.40 and 5709.83 of the Ohio Revised Code and hereby ratifies the giving of that notice; NOW, THEREFORE, BE IT ORDAINED by the Council of the City of Dublin, Delaware, Franklin and Union Counties, Ohio, that: RECORD OF ORDINANCES Dayton Legal Blank, Inc. Form No. 30043 Ordinance No. 105-03 Passed Page 2.20 Section 1. Tax Exemption. 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 assessed value of each Parcel subsequent to the effective date of this Ordinance (which increase in assessed value is hereinafter referred to as the "Improvement" as defined in Section 5709.40) is hereby declared to be a public purpose, and shall be exempt from taxation for a period commencing with the first tax year that begins after the effective date of this Ordinance and in which an Improvement first appears on the tax list and duplicate of real and public utility property and ending on the earlier of (a) thirty (30) years after such exemption commenced or (b) the date on which the City can no longer require service payments in lieu of taxes, all in accordance with the requirements of Sections 5709.40 and 5709.42 of the Ohio Revised Code. Section 2. Payment of Service Payments. As provided in Ohio Revised Code Section 5709.42, the owner of each Parcel is hereby required to, and shall make, service payments in lieu of taxes with respect to the Improvements allocable thereto to the Treasurer of Franklin County, Ohio (the "County Treasurer") on or before the final dates for payment of real property taxes. Each service payment in lieu of taxes shall be charged and collected in the same manner and in the same amount as the real property taxes that would have been charged and payable against that Parcel if it were not exempt from taxation pursuant to Section 1. Any late payments shall be subject to penalty and bear interest at the then current rate established under Ohio Revised Code Sections 323.121(B)(1) and 5703.47, as the same may be amended from time to time, or any successor provisions thereto as the same may be amended from time to time (the payment of penalties and interest are collectively referred to herein with the service payments in lieu of taxes as the "Service Payments"). The Service Payments, and ar~y other payments in respect of each Parcel which are received by the County Treasurer in connection with the reduction required by Ohio Revised Section 319.302, as the same may be amended from time to time, or any successor provisions thereto as the same maybe amended from time to time (the "Property Tax Rollback Payments"), shall be allocated and distributed in accordance with Section 3 of this Ordinance. Section 3. Distribution of Payments to School District and City. Pursuant to Ohio Revised Code Sections 5709.40 and 5709.42, the County Treasurer shall distribute the Service Payments and the Property Tax Rollback Payments as follows: • to the Dublin City School District, an amount equal to the amounts the Dublin City School District would otherwise receive as real property tax payments (including the applicable portion of any Property Tax Rollback Payments) derived from the Improvement related to the Parcels located within the Dublin City School District absent the passage of this Ordinance, • to the Hilliard City School District, an amount equal to the amounts the Hilliard City School District would otherwise receive as real property tax payments (including the applicable portion of any Property Tax Rollback Payments) derived from the Improvement related to the Parcels located within the Hilliard City School District absent the passage of this Ordinance, and • to the City, all remaining amounts for further deposit into the Fund. All distributions required under this Section 3 shall be made at the same time and in the same manner as real property tax distributions. Section 4. Creation of TIF Fund. This Council hereby establishes pursuant to and in accordance with the provisions of Ohio Revised Code Section 5709.43, the Irelan Place Project Municipal Public Improvement Tax Increment Equivalent Fund (the "Fund"). The Fund shall be maintained in the custody of the City and shall receive all distributions required to be made to the City pursuant to Section 3. Those Service Payments and Property Tax Rollback Payments distributed with respect to the Improvements on the Parcels, so deposited and distributed pursuant to law as provided in Ohio Revised ('ode Section 5709.42, shall be used solely for the purposes authorized in Ohio Revised Code Sections 5709.40, 5709.42 and 5709.43. The Fund shall remain in existence so long as such Service Payments and Property Tax Rollback Payments are collected and used for the aforesaid purposes, after which time said RECORD OF ORDINANCES Dayton Legal Blank, Inc. Form No. 30043 Ordinance No. 105-03 Passed Page 3.20 Fund shall be dissolved and any surplus funds remaining therein transferred to the City's General Fund, all in accordance with Ohio Revised Code Section 5709.43. Section 5. Public Infrastructure Improvements. The public infrastructure improvements set forth in Exhibit B hereto and to be made by the City are hereby designated as those public infrastructure improvements that directly benefit, or that once made will directly benefit, the TIF Area (the "Infrastructure Improvements"). Section 6. TIF Agreement. The Tax Increment Financing Agreement relating to the TIF Area, in the form presently on file with the Clerk of Council, providing for, among other things, the payment of such Service Payments, is hereby approved and authorized with changes therein not inconsistent with this Ordinance and not substantially adverse to this City and which shall be approved by the City Manager. The City Manager, for and in the name of this City, is hereby authorized to execute that Tax Increment Financing Agreement, provided further that the approval of changes thereto by that official, and their character as not being substantially adverse to the City, shall be evidenced conclusively by her execution thereof. This Council further hereby authorizes and directs the City Manager, the Clerk of Council, the Director of Law, the Director of Finance, or other appropriate officers of the City, to make such arrangements as are necessary and proper for collection of said Service Payments from the owners of Parcels. Section 7. Further Authorizations. This Council further hereby authorizes and directs the City Manager, the Clerk of Council, the Director of Law, the Director of Finance, or other appropriate officers of the City to prepare and sign all agreements and instruments and to take any other actions as maybe appropriate to implement this Ordinance. Section 8. Notification of Passage. Pursuant to Ohio Revised Code Section 5709.40, the Clerk of this 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. On or before March 31 of each year that the exemption set forth in Section 1 hereof remains in effect, the Clerk or other authorized officer of this City shall prepare and submit to the Director of the Department of Development of the State of Ohio the status report required under Section 5709.40(E) of the Ohio Revised Code. Section 9. Open Meetings. 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 10. Effective Date: This Ordinance shall be in full force and effect on the earliest date permitted by law. Signed: residing Officer Attest: Clerk of Council Passed: Q C7/~ ~ ~j , 2003 I hereby certify that copies of this Effective: ~ p'~ - ~ , 2003 Ordinance/Resolution were posted in the -T City of Dublin in accordance with Section 731.25 of the Ohio Revised Code. De y Clerk of Council, Dublin, Ohio Office of the City Manager 5200 Emerald Parkway • Dublin, OH 43017 Phone: 614-410-4400 • Fax: 614-410-4490 CITY OF DUBLIN Memo To: Members of the Dublin City Council From: Jane S. Brautigam, City Manager ~l Date: September 9, 2003 ° ~ ~ Initiated By: Michael Stevens, Director of Economic Development V" ` Re: Ordinance No. 105-03, Irelan Place TIF Summary: Ordinance No. 105-03 authorizes the execution of a Tax Increment Financing Agreement (TIF) and establishes the Irelan Place Tax Increment Equivalent Fund. As City Council is aware through previous updates (see attached September 2, 2003 memo) staff has been discussing the establishment of a TIF with Kinetics Noise Control that will provide an incentive for them to install a public water line from Avery Road, running the length of Irelan Place. Kinetics is willing to install an 8-inch water line and be reimbursed over time from the TIF service payments that will be generated from the Company's 52,500 square foot expansion. The immediately surrounding area was developed years ago with industrial uses without public water which precludes the extension of public water by new development. A similar economic development incentive was provided to Coretest Columbus Technologies, Inc. (C.C. Technologies) in June 1995, which is in the same general area, only west of Avery Road. Attached is a map of the area highlighting the location of Kinetics Noise Control and C.C. Technologies. The cost to install the water line has been estimated initially at $48,900. In addition to the water line improvement, the TIF ordinance also identifies the Avery Road widening project as a public improvement that can be funded partially by the Irelan Place TIF district. Two of the parcels in the proposed TIF district are in the Hilliard School District and one is in the Dublin School District. The Ordinance is written as anon-school TIF and both school districts have been notified of the City's intent. It is estimated that the TIF will generate annual payments in lieu of taxes of $16,800. Recommendation: Staff recommends that City Council approve Ordinance No. 105-03 at its October 6, 2003 meeting. _ , ~ _ - ~ ~ _ _ 1 7_ r ~ ~ _ _ _ ~ 1 - - ~ ~ _ - - - - ~ _ - _ _ - - I _ z i ( V jl ~ ~ _ ~ ~ ti~ 1---' I i- 2~~ a. _ - 1 5 t - ~ - ~ t / t t ~ _ _ it--~\~ ,,,,M,,c~~ ~ , ~ ~ ~ ~ - - i ~1 ~ - ~ ~ ~ ~ ~ ~ 1 t ~ i ' ~ _ ~ I ~ ~ - ~ 4-, _ ~ r I ~ ~ f J ~ I C ~i~`~ ` r I i r l `I _ 1 _I~ ~ r -rr- ~~~1 ~ ~ - ;i i ~ I ~ ill 1 ~ t' ~ ~ , - - ~ I ~ ~ ~ ~ ~ f - - ~ Y ~ ~ I - - ~ - _ ,r ~ n' ~ I ~ - ~~i 1~ ~ i_ ~ _ ~ i_ ~ i ~ ~ 1 i ~il_~ ( 1 ~ ~ C7 - j l f,r i ~ ~ ~i ~ i~ ~I i _ ~ -f ' - ~ 1 t ~ ` ~ti - C~ N TAX INCREMENT FINANCING AGREEMENT This Tax Increment Financing Agreement (the "Agreement"), made and entered into as of this o17'~'day of February, 2004, by and between the CITY OF DUBLIN, Ox1o (the "City"), a municipal corporation organized and existing under the constitution and the laws of the State of Ohio, and KINETICS PROPERTIES, KINETICS PROPERTIES, LLC (the "Owner"), an Ohio corporation with offices located in the City. WITNESSETH: WHEREAS, the Owner has acquired by deed certain real property located in the City (which property is depicted in Exhibit A attached hereto and referred to herein as the "Property"); and WttEREas, the Owner has made or will make the private improvements thereto described in Exhibit B attached hereto (the "Project"); and WHEREAS, the Owner desires that the public infrastructure improvements described in Exhibit C attached hereto (the "Public Improvements") be constructed and installed, and agrees that the Public Improvements will benefit the Property; and Wi tEREAS, prior to the passage of the TIF Ordinance (as defined below), the City provided notice of the proposed passage of the TIF Ordinance to any affected school districts as required by Ohio Revised Code Sections 5709.40 and 5709.83; and WEtEltEas, the City has determined that it is necessary and appropriate and in the best interests of the City to provide for the Owner, and its successors and assigns, to make service payments in lieu of taxes with respect to the Property to pay costs of the construction of the Public Improvements or for distribution to the Dublin City School District or the Hilliard City School District, all pursuant to and in accordance with Ohio Revised Code Sections 5709.40, 5709.42 and 5709.43 (collectively, the "Act"), and the City, by its Ordinance No. 105-03 passed October 6, 2003 (the "TIF Ordinance"), has declared that 100% of the increase in assessed value of the Property subsequent to the effective date of the TIF Ordinance (including but not limited to any portion of that increase in assessed value resulting from Owner's construction of the Project and other improvements) is a public purpose and declared to be exempt from taxation for a period commencing with the first tax year that begins after the effective date of the TIF Ordinance and in which an Improvement first appears on the tax list and duplicate of real and public utility property and ending on the earlier of (a) thirty (30) years after such exemption commenced or (b) the date on which the City can no longer require service payments in lieu of taxes, all in accordance with the requirements of the Act; and WttEREAS, in order to provide for the collection of such. payments in lieu of taxes and to enable the Project to be carried out, the parties desire to enter into this Agreement on the terms as hereinafter provided; Now, THEREFORE, in consideration of the premises and covenants contained herein, and to induce the Owner to proceed with the Project and with the construction of the Public Improvements, the parties hereto agree as follows: Section 1. Covenant to Make Payments in Lieu of Taxes. The Owner, for itself and any successors in interest to the Property, or any part thereof or interest therein, hereby agrees that the then current owner shall make for the Property semiannual service payments in lieu of taxes with respect to the "Improvement" (including the Project), as that term is used and defined in the Act, pursuant to and in accordance with the requirements of the Act, and pursuant to the TIF Ordinance and any subsequent amendments or supplements thereto. Any :late payments shall be subject to penalty and bear interest at the then current rate established under Ohio Revised Code Sections 323.121(B)(1) and 5703.47, as the same may be amended from time to time, or any successor provisions thereto as the same may be amended from time to tune (the payment of penalties and interest are collectively referred to herein with the payments in lieu of taxes as the "Service Payments"). Such Service Payments shall be made semiannually to the County Treasurer of Franklin County, Ohio (or to the Treasurer's designated agent for collection of the Service Payments) on or before the date on which real property taxes would otherwise be due and payable for the Improvement. Each semiannual payment shall be in the same amount as the real property taxes that would have been charged and payable against the Improvement (after credit for any other available payments received by the City under Ohio Revised Code Section 319.302 as the same cnay be amended from time to time, or any successor provisions thereto as the same may be amended from time to time, herein the "Property Tax Rollback Payments") had an exemption from taxation not been granted, and otherwise shall be in accordance with the requirements of the Act. The Owner, and its successors and assigns in interest to the Property, shall not, under any circumstances, be required for any tax year to pay both real property taxes with respect to the Improvement and payments in lieu of taxes with respect to the Improvement, whether pursuant to Ohio Revised Code Section 5709.42, the TIF Ordinance, this Agreement or any other applicable law. It is intended and agreed, and it shall be so provided by the Owner in a declaration filed and of record in the office of the County Recorder of Franklin County, Ohio (the "Declaration"), and in any future deed from the Owner conveying the Property or any part thereof, that the covenants provided in this Section shall be covenants running with the land and that they shall, in any event and without regard to technical classification or designation, legal or otherwise, be binding to the fullest extent permitted by law and equity for the benefit and in favor of and enforceable by the City whether or not this Agreement remains in effect or whether or not such provision is included by the Owner in any succeeding deed to the Owner's successors and assigns in interest to the Property. It is further intended and agreed that these agreements and covenant, shall remain in effect for the full period of exemption permitted in accordance with the requirements of the Act and the City's TIF Ordinance enacted pursuant thereto. The Owner and its successors and assigns in interest to the Property shall only be responsible for making Service Payments which become due and payable during their respective periods of ownership. Such covenants running with the land in the Declaration shall have priority over any mortgage or other lien on the Property, and the Owner shall cause any and all holders of mortgages -2- or other liens existing on the Property (if any) as of the time of recording of the Declaration, to subordinate such lien to the covenants running with the land provided in the Declaration. Section 2. Exemption Application. The Owner further agrees for itself and its successors and assigns in interest to the Property to assist and cooperate with the City in the preparation and filing by the City of all necessary applications and supporting documents to obtain the exemption from real property taxation for the Improvement authorized by the Act and the City, and to enable the City to collect Service Payments thereunder, and the Owner shall cooperate with the City in connection with the preparation and filing of the initial and any further applications required to accomplish that purpose. The City shall make the initial application no later than December 31, 2004, unless the City determines a later date is permissible. Section 3. Tax Increment Equivalent Fund. The City and the Owner acknowledge the creation, pursuant to the TIF Ordinance, of the Irelan Place Project Municipal Public Improvement Tax Increment Equivalent Fund (the "Fund") to be maintained in the custody of the City. The City and the Owner agree that the Fund shall receive all Service Payments and Property Tax Rollback Payments payable to the City in respect of the Property as described in Section 1, with all such Service Payments and Property Tax Rollback Payments being used to finance or pay the costs of the Public Improvements. Any incidental surplus remaining in the Fund shall be disposed of as provided in Section 5709.43(D) of the Revised Code. Section 4. Construction of Project. In consideration for the City's agreements herein, the Owner agrees to construct, or cause the construction of, the Project. Section 5. Construction of Public Improvements; Construction Drawings. The Owner agrees to construct, or cause to be constructed, on behalf of the City, the Public Improvements described in Exhibit C. The Owner agrees to cause to be prepared the construction drawings and any related documents required for the Public Improvements, which drawings shall be prepared in accordance with the City's usual requirements for such work, and shall otherwise be in form and substance satisfactory to the City. Section 6. Prevailing Wage. The Owner and City acknowledge and agree that the Public Improvements are subject to the prevailing wage requirements of the Ohio Revised Code Chapter 4115 and all wages paid to laborers and mechanics employed on the Public Improvements shall be paid at not less than the prevailing rates of wages of laborers and mechanics for the classes of work called for by the Public Improvements, which wages shall be determined in accordance with the requirements of that Chapter 4115. The City and the Owner shall comply, and the Owner shall require compliance by all subcontractors working on the Public Improvements, with all applicable requirements of that Chapter 4115 including, without limitation, (a) obtaining from the Ohio Department of Industrial Relations its determination of the prevailing rates of wages to be paid for all classes of work called for by the Public Improvements; (h) obtaining the designation of a prevailing wage coordinator for the Public Improvements; and (c) insuring that all subcontractors receive notification of changes in prevailing wage rates as required by that Chapter 4115. The private improvements comprising the Project described in Exhibit B are not subject to the prevailing wage requirements of Ohio Revised Code Chapter 4115. -3- Section 7. Payments to the Owner. The City agrees to reimburse the Owner for the cost of the Public Improvements to be constructed by the Owner. The City will make annual payments to the Owner on or before December 1 of each year after (a) the Owner has completed construction of the Public Improvements, (b) dedicated the Public Improvements to the City and (c) delivered to the City a certificate of cost of construction of those Public Improvements which is satisfactory to the City's Director of Finance and City Engineer. In no event shall the aggregate payments made by the City from the funds described in this Section (excluding interest payments on the unpaid balance) to reimburse the Owner for the costs of the Public Improvements exceed, in the aggregate, the lesser of (i) Eighty Thousand Dollars ($80,000), or (ii) the cost of construction (including design fees) of the Public Improvements as certified to the City by the Owner and approved by the City's Director of Finance and City Engineer. Each payment made by the City pursuant to this Section 7 shall include interest on the unreimbursed portion of the cost of the Public Improvements and such interest shall be calculated at the rate of three percent (3%) per annum. The annual payments described in this Section shall be made solely from and to the extent monies are available in the Irelan Place Project Municipal Public Improvement Tax Increment Equivalent Fund created by the TIF Ordinance. The obligation of the City to make payments to the Owner pursuant to this Section is not an obligation or pledge of any moneys raised by taxation acid does not represent or constitute a debt or pledge of the faith and credit of the City. Except for the payments from the various funds and in the aggregate amount described in this Section, the Owner shall receive no other monies from the City in connection with the construction of the Public Improvements. Section 8. Release. Upon satisfaction of the Owner's obligations under this Agreement and termination of the Owner's obligations to make the Service Payments, the City shall, upon the request of Owner, or its successors and assigns in interest to the Property, execute an instrument in recordable form evidencing such termination and releasing the covenants running with the land set forth in the Declaration. Section 9. Estoppel Certificate. Upon request of the Owner or any successors or assigns in interest to the Property, the City shall execute and deliver to the Owner, any such successor and assign or any proposed purchaser, mortgagee or lessee of the Property, a certificate stating: (a) that the Agreement is in full force and effect, if the same is true; (b) that the Owner or that successor or assign is not in default under any of the terms, covenants or conditions of the Agreement, or, if the Owner or the successor or assign is in default, specifying same; and (c) such other matters as the Owner or the successor or assign reasonably requests. Section 10. Representations of Parties. The Owner hereby represents that it is the owner in fee simple of the Property and has full power and authority to enter into this Agreement and carry out its terms. The City hereby represents that the TIF Ordinance was passed by the City Council on October 6, 2003. Section 11. Successors. This Agreement shall be binding upon the Owner, and its respective beneficiaries, successors and assigns, all as and to the extent provided for herein. Section 12. Information Reporting. The Owner shall cooperate in all reasonable ways with and provide necessary and reasonable information to the designated Tax Incentive Review -4- Council (the "TIRO") to enable the TIRC to review and determine annually during the term of this Agreement, the compliance of the Owner with the terms of this Agreement. Any information supplied by the Owner shall be provided solely for the purpose of monitoring its compliance with this Agreement. Section 13. Agreement Binding on Parties; No Personal Liability; City Consents. All covenants, obligations and agreements of the City and the Owner contained in this Agreement shall be effective to the extent authorized and permitted by applicable law. No such covenant, obligation or agreement shall be deemed to be a covenant, obligation or agreement of any present or future member, officer, agent or employee of the City in other than their official capacity or of any individual person who is an officer, director or shareholder of the Owner other than in their capacity as an officer, director or shareholder, and neither the members of the City Council nor any City official executing this Agreement, or any individual person executing this agreement on behalf of the Owner, shall be liable personally by reason of the covenants, obligations or agreements of the City or the Owner contained in this Agreement. Any consent of the City to be given under this Agreement maybe given by the Mayor, and shall be given in writing. Section 14. Amendments. This Agreement may only be amended by written instrument executed by all of the parties to this Agreement. Section 15. Notices. Except as otherwise specifically set forth in this Agreement, all notices, demands, requests, consents or approvals given, required or permitted to be given hereunder shall be in writing and shall be deemed sufficiently given if actually received or ifhand-delivered or sent by recognized, overnight delivery service or by certified mail, postage prepaid and return receipt requested, addressed to the other party at the address set forth in this Agreement or any addendum to or counterpart of this Agreement, or to such other address as the recipient shall have previously notified the sender of in writing, and shall be deemed received upon actual receipt, unless sent by certified mail, in which event such notice shall be deemed to have been received when the return receipt is signed or refused. The parties, by notice given hereunder, may designate any further or different addresses to which subsequent notices, certificates, requests or other communications shall be sent. The present addresses of the parties follow: (a) To Owner at: Kinetics Properties, LLC 6300 Irelan Place Dublin, Ohio 4301'7 (b) To the City at: City of Dublin, Ohio 5800 Shier-Rings Road Dublin, Ohio 43016 Attention: Economic Development Director Section 16. Counterparts. This Agreement may be signed in one or more counterparts or duplicate signature pages with the same force and effect as if all required signatures were contained in a single original instrument. Any one or more of such counterparts or duplicate signature pages -5- may be removed from any one or more original copies of this .Agreement and annexed to other counterparts or duplicate signature pages to form a completely executed original instrument. (signature pages to follow) -6- IN WITNESS WHEREOF, the City and the Owner have caused this Agreement to be executed in their respective names by their duly authorized officers, as of the date hereinabove written. CITY OF DUBLIN, OHIO B~ r~.~. ~ Printec~G, Y1~ c~ • ~G vf-i~ cent, n1 Title: G ~ ~'~y ,Ms~,y ~G-~ ~2. Appr B ~ ~ Printed_~_~~~r' pry-Erb ~~~c7~.,~'~r Title: ~ ~ KINETICS PROPERTIES, LLC By: ~t ~ !~C- ~~G' Printed: ~,~~2~'lL ,q_ /~~`9hL~° Title:~~E~s/~E/V -7- FISCAL OFFICER'S CERTIFICA"TE The undersigned, Director of Finance of the City under the foregoing Agreement, certifies hereby that the moneys required to meet the obligations of the City during the year 2004 under the foregoing Agreement have been appropriated lawfully for that purpose, and is in the Treasury of the City or in the process of collection to the credit of an appropriate fund, free from any previous encumbrances. This Certificate is given in compliance with Sections 5705.41 and 5705.44, Ohio Revised Code. Dated: February , 2004 _L Marsha .Grigsby Deputy City Manager/Director of Finance -8- EXHIBIT A PROPERTY The following real estate situated in the City of Dublin, County of Franklin and State of Ohio, as bounded and described as follows: Tax Parcels No. 274000101 and No. 274000102 and No. 273008179 r~ I u-~:~.,.,- - - x ~ t• r ~yC7S ' =-~n SHIER' ~ ~ ~ ~ I 1 4 _ ~ ~ tm SHIER INGS_RD ~ ~ ,-p~ i _ ~ i ,m I ~ } ~m , F O n I{~~ ~ ~ E ~ ,o . , - , 1 ~ ~ ~ ~ l , ] t' i C t I i ~/i ~ ~Q ~ Q I II ~ _ _ -Ji r y ~ s - . . - ~ { _ } ~ ~ w ~ 1' f I ~ ~ ~ i ! ~ p ( rte.. ~ ~ - N P 1~-- ~ ~ 3 LJ ~ , . ~ 4 I n I ; _ -s ~ 1 1 O ~a._-_ . ~ "I _ - - m ~ "x . I t 1~ z ~ 1 ~J o. _ Q 1 `I 1 ,.,~j~ ~ W__, TUS. _ l;L DRy } "~SWEkLIDR WE - ~ ? I ~A t~, ~ C ~ __r I t i •z 1~ _ ~ D ? } ~ I ~ - I t ~ . ~ ~ I I (17 a € T' m ~ ; i ~ ~ j OQ- ~~tia . I I i p ~o~ -;~t~' CITL ~V_ ~ i I A- I EXHIBIT B PROJECT The Project is expected to include an expansion of approximately 52,500 square feet to an existing industrial facility, associated parking and landscaping improvements and other related improvements. B-1 EXHIBIT C PUBLIC IMPROVEMENTS The Public Improvements include the construction of: • approximately 700 L.F. of 8-inch water line along Irelan Place to be constructed by the developer C-1