Loading...
HomeMy WebLinkAboutResolution 039-18RECORD OF RESOLUTIONS Dayton Legal Blank, Inc., Form No. 30045 Resolution No. 39-16 Passed , 20 A RESOLUTION APPROVING THE NECESSITY OF ACQUIRING, CONSTRUCTING, AND IMPROVING CERTAIN PUBLIC IMPROVEMENTS IN THE CITY OF DUBLIN, OHIO IN COOPERATION WITH THE COLUMBUS REGIONAL ENERGY SPECIAL IMPROVEMENT DISTRICT (4660-5000 BLAZER PARKWAY PROJECT) WHEREAS, Ohio Revised Code Section 1710.06(C) provides that a political subdivision which has approved a petition for special assessments for public improvements in an energy special improvement district and a plan pursuant to Ohio Revised Code Sections 1710.02(F) and 1710.06 shall levy the requested special assessments pursuant to Ohio Revised Code Chapter 727; and WHEREAS, the Columbus Regional Energy Special Improvement District (the "District's was created under Ohio Revised Code Chapters 1702 and 1710 as an energy special improvement district and established pursuant to Resolution No. 0261X -201r--) of the Council of the City of Columbus, Ohio approved on November 23, 2015 (the "Creation Resolution". WHEREAS, pursuant to the Creation Resolution, the Columbus Regional Energy Special Improvement District Program Plan (as amended and supplemented from time to time, the "Program Plan'? was adopted as a plan for public improvements and public services under Ohio Revised Code Section 1710.02(F), which plan allows for additional properties within the City of Columbus, Ohio and within any municipal corporation or township which is adjacent to any other municipal corporation or township in which a portion of the District's territory is located to be added to the territory of the District; and WHEREAS, Omni Blazer, LLC (the "Owner'? petitioned to add property owned by it to the District pursuant to Ohio Revised Code Chapter 1710 in part in order to finance the costs of a special energy improvement project to be constructed on such property, which special energy improvement project consists of acquiring, constructing, equipping, improving, and installing energy efficiency improvements on its real property, including, without limitation, high -efficiency LED lighting upgrades, HVAC and DDC control upgrades, and related improvements (the "Project'; and WHEREAS, the City Council ("Council,"') of the City of Dublin, Ohio (the "City's has, by Resolution adopted on July 2, 2018 approved the Petition for Special Assessments for Special Energy Improvement Projects and Amada vit (the '"Petition "), together with the Supplement to Plan for 4860-5000 Blazer Parkway, Dublin Ohio Project (the "Supplemental Plan'? in accordance with Ohio Revised Code Section 1710.02; and WHEREAS, the Petition, which is on filE! with the Clerk of Council, has been signed by the Owner, as the owner of one hundred percent (100%) of the real property affected by the Petition (as further described in Exhibit A to the Petition, the "Property', and proposes the necessity of acquiring, constructing, and improving the Project and financing the Project through the cooperation of the District; and WHEREAS, by the Petition, the Owner requests that the Project be paid for by special assessments assessed upon the Property (the "Special Assessments' in an amount sufficient to pay the costs of the Project, which is estimated to be $1,345,914.48, including the costs identified in Section 2 of this Resolution, and requests that the Project be undertaken cooperatively by the City, the District, and such other parties as the City may deem necessary or appropriate. NOW,T REFORE, BE IT RESOLVED by the Council of the City of Dublin, State of Ohio, of the elected members that: Section 1. Each capitalized term not otherwise defined in this Resolution or by reference to another document shall have the meaning assigned to it in the Petition. RECORD OF RESOLUTIONS Dayton Legal Blank, Inc., Form No. 30045 __ 39-18 Page 2 of 4 Resolution No. Passed , 20 Section 2. This Council declares necessary, and a vital and essential public purpose of the City, to improve the Property, which is located at 4860-5000 Blazer Parkway in the City, by providing for the acquisition, construction, and improvement of the Project by the Owner, as set forth in the Petition and the Supplemental Plan, and providing for the payment of the costs of the Project, including any and all architectural, engineering, legal, insurance, consulting, energy auditing, planning, acquisition, installation, construction, surveying, testing, and inspection costs; the amount of any damages resulting from the Project and the interest on such damages; the costs incurred in connection with the preparation, levy and collection of the special assessments; the cost of purchasing and otherwise acquiring any real estate or interests in real estate; expenses of legal services; costs of labor and material; trustee fees and other financing costs incurred in connection with the issuance, sale, and servicing of securities, nonprofit corporate obligations, or other obligations issued or incurred to provide a loan or to secure an advance of funds to the Owner or otherwise to pay costs of the Project in anticipation of the receipt of the Special Assessments, capitalized interest on, and financing reserve funds for, such securities, nonprofit corporate obligations, or other obligations so issued or incurred, including any credit enhancement fees, trustee fees, program administration fees, financing servicing fees, and District administrative fees and expenses; an amount to reflect interest on unpaid Special Assessments which shall be treated as part of the cost of the Project for which the Special Assessments are made at an interest rate which shall be determined by the District or the Columbus -Franklin County Finance Authority as its conduit financing entity to be substantially equivalent; to the fair market rate that would have been borne by notes or bonds if notes or bonds had been issued by the District, the Columbus -Franklin County f=inance Authority, or another issuer of notes or bonds to pay the costs of the Project; together with all other necessary expenditures, all as more fully described in the Petition, the Supplemental Plan, and profiles, specifications, and estimates of cost of the Project, all of which are on file with the Director of Finance and open to the inspection of all persons interested. Section 3. This Council determines that the Project's elements are so situated in relation to each other that in order to complete the acquisition and improvement of the Project's elements in the most practical and economical manner, they should be acquired and improved at the same time, with the same kind of materials, and in the same manner; and that the Project's elements shall be treated as a single improvement, pursuant to Ohio Revised Code Section 727.09, and the Project's elements shall be treated as a joint improvement to be undertaken cooperatively by the City and the District pursuant to Ohio Revised Code Section 9.482 and Ohio Revised Code Chapter 1710. Section 4. The plans and specifications and total cost of the Project novo on file in the office of the Clerk of Council are approved, subject to changes as permitted by Ohio Revised Code Chapter 727. The Project shall be made in accordance with the plans, specifications, profiles, and estimate of costs for the Project. Section 5. This Council determines and declares that the Project is an essential and vital public, governmental purpose of the City as a Special Energy Improvement Project, as defined in Ohio Revised Code Section 1710.01(I); and that in order to fulfill that essential and vital public purpose of the City, it is necessary and proper to provide, in cooperation with the District, for the acquisition, construction, and improvement of the Project in the manner contemplated by the Petition and the Supplemental Plan. This Council determines and declares that the Project is conducive to the public peace, health, safety and welfare of the City and the inhabitants of the City. Section 6. Pursuant to and subject to the provisions of a valid Petition signed by the owners of one hundred percent (100%) of the Property, the entire cost of the Project shall be paid by the 'special Assessments levied against the Property, which is the benefited property. The provisions of the Petition and the Supplemental Plan are ratified, adopted, approved and incorporated into this Resolution as if set forth in full RECORD OF RESOLUTIONS Dayton Legal Blank, Inc., Form No. 30045 39-18 Page 3 of 4 Resolution No. 20 in this Resolution. The portion of the costs of the Project allocable to the City will be zero percent (0%). The City does not intend to issue securities in anticipation of the levy or the collection of the .Special Assessments. Section 7. The method of levying the Special Assessments shall be in proportion to the benefits received, allocated among the parcels constituting the Property as set forth in the Petition and the Supplemental Plan. Section 8. The lots or parcels of land to be assessed for the Project shall be the Property, described in Exhibit A to the Petition, all of which lots and lands are determined to be specially benefited by the Project. Section 9. The Special Assessments shall be levied and paid in 34 semi-annual installments pursuant to the list of estimated Special Assessments set forth in the Petition and the Supplemental Plan (which list is incorporated herein by reference), and the Owner has waived its option to pay the Special Assessment in cash within 30 days after the first publication of the notice of the assessing ordinance. The aggregate amount of Special Assessments estimated to be necessary to pay the costs of the Project is $1,345,914.48. Each semi-annual Special Assessment payment represents payment of a portion of the principal of and interest on obligations issued or incurred to pay the costs of the Project and of administrative expenses. The interest portion of the Special Assessments, together with amounts used to pay administrative expenses, shall be treated as part of the cost of the Project for which the Special Assessments are made at an interest rate which shall be determined by the District to be substantially equivalent to the fair market rate that would have been borne by notes or bonds had notes or bonds been issued by the City or another issuer of notes or bonds to pay the costs of the Project. In addition to the Special Assessments, the County Auditor of Franklin County, Ohio may impose a special assessment collection fee with respect to each semi-annual payment, which amount will be added to the Special Assessments by the County Auditor of Franklin County, Ohio. Section 10. The Director of Finance or the Director of Finance's designee is authorized and directed to prepare and file in the office of the Clerk of Council the estimated Special Assessments for the cost of the Project in accordance with the method of assessment set forth in the Petition, the Supplemental Plan, and this Resolution, showing the amount of the assessment against each lot or parcel of land to be assessed. Section 11. Notice of the adoption of this Resolution and the filing of the estimated Special Assessments upon the Owner of the Assessed Property as provided in Ohio Revised Code Section 727.13 shall be delivered by the Clerk of Council to the Owner promptly following adoption of this Resolution. Section 12. The Director of Finance or the Director of Finance's designee is authorized, pursuant to Ohio Revised Code Section 727.12, to cause the Special Assessments to be levied and collectEnd at the earliest possible time including, if applicable, prior to the completion of thE.1 acquisition and construction of the Project. Section 13. The Special Assessments will be used by the City to pay the cons of the Project in cooperation with the District in any manner, including assigning the Special Assessments actually received by the City to the District or to another party the City deems appropriate, and the Special Assessments are appropriated for such purposes. Section 14. This Council accepts and approves the waiver of all further notices, hearings, claims for damages, rights to appeal and other rights of property owners under the law, including but not limited to those specified in the Ohio Constitution, Ohio Revised Code Chapter 727, Ohio Revised Code Chapter 1710, and the Charter of the City of Dublin, Ohio, and consents to the immediate imposition of the Special Assessments upon the Property. This waiver encompasses, but is not limited to, RECORD OF RESOLUTIONS Dayton Legal Blank, Inc., Form No. 30045 Resolution No. 39-18 waivers by the Owner of the following rights: Page 4of4 Passed ,20 (i) The right to notice of the adoption of the Resolution of Necessity under Ohio Revised Code Sections 727.13 and 727.14; (ii) The right to limit the amount of the Special Assessments under Ohio Revised Code Sections 727.03 and 727.06; (iii) The right to file an objection to the Special Assessments under Ohio Revised Code Section 727.15; (iv) The right to the establishment of, and any proceedings by and any notice from an Assessment Equalization Board under Ohio Revised Code Sections 727.16 and 727.17; (v) The right to file any claim for damages under Ohio Revised Code Sections 727.18 through 727.22 and Ohio Revised Code Section 727.43; (vi) The right to notice that bids or quotations for the Project may exceed estimates by 15%; (vii) The right to seek a deferral of payments of Special Assessments under Ohio Revised Code Section 727.251; (viii) The right to notice of the passage of the assessing Resolution under Ohio Revised Code Section 727.26; and (ix) Any and all procedural defects, errors, or omissions in the Special Assessment process. Section 15. The City is authorized to enter into agreements by and among the City, the District, and such other parties as the City may deem necessary or appropriate in order to provide the Authorized Improvements, and that the City Manager is authorized to execute, on the City's behalf, such agreements. Section 16. This Council finds and determines that all formal actions of this Council concerning and relating to the pas age of this legislative resolution were adopted in an open meeting of this Council, d that all deliberations of this Council and any of its committees that resulted in formal action were in meetings open to the public in comq4nce with all legal re rements, including Ohio Revised Code Section 121.22. Si Mayor — Presiftg st: Clerk of Council 1r Passed: , 2018 2018 Effective: _ , _iN i,) FICE'l"OPROPERTY OWNER OF SPECIAL ASSESSMEN"'FS 1'0: Onini Blazer, 1JI,C You are hereby notified that onJuIv 2, 2018, the City Council of the City of Dublin, Ohio, adopted. Resolution No. 39-1.8 declaring it necessary., and a -vital and essential public pull:)Ose of the I City, to improve the Property, which is located at 4860-5000 Blazer Parkway in the City, by and improvement of the Project bv h te Owner. as set providing for the acquisition, construction.,. W for in the Petition and the Supplemental. Plw-iand providing for the payment of the related. costs of A.- the Pr *ect, all as inorel'ullv described in the Petition., the Program Plan and the Supplemental Plan", and the proffles, specifications, and estimates of cost of the PrOject all of which are on file with the Clerk of Council and open to the inspection of all persons interested. All. defined terms used herein shall have the meaning set forth in the referenced 'Resoluti.on. The Resolution approves the phans, specifications, profiles and, estimate of cost Ibr the Project,, which are now on file in the office of the Clerk. of ("ouncil of the City, and provides that, the entire cost of the Pro ect shall be assessed against the Property. J 01 The estimated special assessments ter the Prqject based on the estimate of cost are now on file in the office of the Clerk of Council of the CitY, , and are available for inspection by anv interested, person. 0�jections to the special assessments or claims I' r. must be filed, in writing in- the office of the Clerk ofCouncil of the City Nvithin two weeks 'from the date of completion of the service ot this notice. By order of the City Counci]. of the City of Dublin. Ohio. Dated: July 2, 2018 Clerk of Council. City of Dublin., Ohio 11 W., Members of Dublin City Council From: Dana L. McDaniel, City Manager Enl'b"ated By: Colleen Gilger, Director of Economic Development Jeremiah Gracia,, Economic Development Administrator Rachel Ray, Economic Development Administrator Res. 38-18 and Res. 39-18 Property Assessed Clean Energy (PACE) Special Improvement for 4860-5000 Blazer Parkway The City of Dublin is focused on setting appropriate conditions to encourage investment and economic development. City Council continues to support our strategies and tactics to ensure Dublin's office space remains competitive in the market as supported by the Dublin Corporate Area Plan. One particular tool the economic development team has brought to existing building owners' attention is the use a favorable financing tool for major building energy efficiency improvements. PACE special assessments are used to secure local government bonds issued to fund the improvements without requiring the borrower or the sponsoring local government to pledge its credit. By allowing participating property owners to pay for energy improvements to their properties via a bond issue tied to a special assessment on their property tax bill, PACE financint itnables property owners to reduce energy costs with little to no upfront investment. Res. 38-18 and Res. 39-18 — Memo re. PACE for 4860-5000 Blazer Parkway June 28, 2018 Page 2 of 3 Staff recommends Council passage of Resolution No. 38-18 and Resolution No. 39-18 on July 2, 2018. Representatives of the Columbus -Franklin County Finance Authority will be present at the July 2, 2018 Council meeting to respond to questions related to the financing process. Please also feel free to contact Jeremiah Gracia or Rachel Ray with any questions. Res. 38-18 and Res. 39-18 — Memo re. PACE for 4860-5000 Blazer Parkway June 28, 2018 Page 3 of 3 o1I WHAT IS PACE? Property Assessed Clean Energy I'PACEI is a finzwing mechanism that enables low-cost, lonq-term tundinq for energy- efficierxy, renewable energy and water cons —nation projects. PACE hnanci rig is repaid as as assessment on the propel t y's regular ta.x bill,. and is processed the same vs-aV as other local public boncht assimsments isidewalks, sewers) have been for decaloit_�s. Depeodinq on local I e (41 s la t is n, PACE can be u sed For corn inercla 1. non pr ohl an d residential p i opertwis. HOW DOES IT WORK7. PACE is a national I rai h ati ve, but p fog r a ms a i e esta b4i sh ed I ocally and tailored to nlee't regional market needs. State- legislation is passed that authorizes municipalities to establish PACE proq rams, and local governments have clel�eeloped a variety of proqrarr) mod cls that have been succe-ssfu 11y implemeated. regardless of model, t Nere a i e seve i a I keystooes t hat hol d Lf ue for eve i y P�%C[ p,f agram. • PACE is voluntary for all parties involved. • RACE can cover 1001,t of a ptojectvs hard and soft costs. • Lonq financinq terins up to 20 years. • Can be combined with utility, local and federal ifXentive programs. Energy projects are per inanently affixed to a propetly. • The PACE assessment is fik-.-d with the loca I mu nicipality as a I ie ii, on th e pro perty. WHY 15 IT SO POPULAR? Property ow vers love PACE because they can fund prorcts with no out-of-pocket costs- Since PACE hnancing terms extend to,20 years, it's possible to undertake deep, comporehensive retrofits that have meaningful enciqy savings and a significant impact on the bottom line. The annual energy sa-vii�,qs for a PACE project usually exceeds the annual assessment payment, so property owners are cash flow positive immediately. That means there aie increased dollars that can be spent on other cap" projects, budgetary expenses, or business expansion. BENEFITS OF PACE Local governments love PACE because it's an Economic Do.-:,velopment initiative that lowers the cost of doinq business in their community. 11 encourages new business owners to invest in the area, and creates Jobs using the local workforce. PACE PACENation projects also have a positive impact of air- quality, creatinq healthier, more livable rtciqhboriioods. PAUNation ii t!-* n,*t"-wl, HOW CAN I GET PACE? rioolprafil ad Notate icy, VALE financing. We piovsde leadersnipr wwwYACENation.us has all the took and resourcewo you need to qet started with data. support and resources for PACE. Chock to see if your state has passed a PAC[ statute, and if you( area has an the 9fowing ma-ftetplace actiye program. It not, contact us to find out it there is a local initiative in development and we may be able to put you in touch with a -working coalitioa. We look forward to hea ring fro m yo u!