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HomeMy WebLinkAboutOrdinance 003-19RECORD OF ORDINANCES BARRETT BROTHERS - DAYTON, OHIO Form 6220S Ordinance No. 03-19 Passed AN ORDINANCE DETERMINING TO PROCEED WITH THE ACQUISITION, CONSTRUCTION, AND IMPROVEMENT OF CERTAIN PUBLIC IMPROVEMENTS IN THE CITY OF DUBLIN, OHIO IN COOPERATION WITH THE COLUMBUS REGIONAL ENERGY SPECIAL IMPROVEMENT DISTRICT (BRIDGE PARK D BLOCK PROJECT) WHEREAS, the Council ("Council") of the City of Dublin, Ohio (the "City") duly adopted Resolution No. 09-19 on February 11, 2019 (the "Resolution of Necessity"), (i) declaring the necessity of acquiring, constructing, improving, and installing energy efficiency improvements including, without limitation, lighting retrofits, high -efficiency HVAC systems, building automation controls, energy efficient roofs, building insulation, energy efficient windows and doors, and related improvements (the "Project," as more fully described in the Petition referenced in this Ordinance) located on real property owned by Scioto Tuller Acquisition, LLC and Creekside Acquisition Columbus Associates, LLC (the "Owner") and identified by the County Auditor of Franklin County, Ohio as Parcel Numbers 273-013032, 273-0130295 273-013030 within the City (the "Property", as more fully described in Exhibit A to the Petition); (ii) providing for the acquisition, construction, and improvement of the Project by the Owner, as set forth in the Owner's Petition for Special Assessments for Special Energy Improvement Projects and Affidavit (the "Petition"), including by levying and collecting special assessments to be assessed upon the Property (the "Special Assessments") in an amount sufficient to pay the costs of the Project, which is estimated to be $31,221,830.28, including other related costs of financing the Project, which may include, without limitation, the payment of principal of and interest on nonprofit corporate obligations issued to pay the costs of the Project and other interest, financing, credit enhancement, and issuance expenses and ongoing trustee fees and Columbus Regional Energy Special Improvement District ("District") administrative fees and expenses; and (iii) determining that the Project will be treated as a special energy improvement project to be undertaken cooperatively by the City and the District; and WHEREAS, the claims for damages alleged to result from, and objections to, the Project have been waived by one hundred percent (100%) of the Owners, and following notice of the adoption of the Resolution of Necessity which was personally delivered by the Clerk of Council to the Owner on February , 2019, no claims for damages alleged to result from, or objections to, the Project have been filed within the times prescribed by Sections 727.15 and 727.18 of the Ohio Revised Code. NOW, THEREFORE, BE IT ORDAINED by the Council of the City of Dublin, State of Ohio, of the elected members concurring that: Section 1. Each capitalized term not otherwise defined in this Ordinance or by reference to another document shall have the meaning assigned to it in the Petition. Section 2. This Council declares that its intention is to proceed or to cooperate with the District to proceed with the acquisition, construction, and improvement of the Project described in the Petition and the Resolution of Necessity. The Project shall be made in accordance with the provisions of the Resolution of Necessity and with the plans, specifications, profiles, and estimates of cost previously approved and now on file with the Director of Finance and the Clerk of Council. Section 3. The Special Assessments to pay costs of the Project, which are estimated to be $31,221,830.28 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 RECORD OF ORDINANCES BARRETT BROTHERS - DAYTON, OHIO Form 6220S Ordinance No. 03-19 Passe 2 of 5 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 ig � g 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 p p 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, financingservicing n g 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 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 or another issuer of notes or bonds to pay the costs of the Project; together with all other necessary expenditures, shall be assessed against the Property in the manner and in the number of semi-annual installments provided in the Petition and the Resolution of Necessity. Each semi-annual Special Assessment payment represents the payment of aortion of an principal p Y p pa repayment and interest and administrative fees payable with respect to the Project. The Special Assessments shall be assessed against the Propertycommencing in tax year 2020 for g y collection in 2021 and shall continue through tax year 2047 for collection in 2048 • provided, however, if the proceedings relating to the Special Assessments are completed p p d at such time that the County Auditor of Franklin County, Ohio determines that collections shall not commence in 2021, then the collection schedule may be deferred b one e Y y year. In addition to the Special Assessments, the County Auditor of Franklin Count Ohio Y� may impose a special assessment collection fee with respect to each semi-annual a . p payment, which amount, if imposed, will be added to the Special Assessments b the p y County Auditor of Franklin County, Ohio. Section 4. The estimated Special Assessments for costs of the Project Projprepared J p p and filed in the office of the Clerk of Council and in the office of the Director of Finance, in accordance with the Resolution of Necessity, are adopted. Section 5. In compliance with Ohio Revised Code Section 319.61 the Clerk of Council is directed to deliver a certified copy of this Ordinance to the Count Auditor for of Franklin County, Ohio within 15 days after the date of itsassa e. p g Section 6. All contracts for the construction of the Project will be let in accordance ordance with the Petition, the Program Plan, and the Supplemental Plan and the costs p of the Project shall be financed as provided in the Resolution of Necessity. Y Section 7. 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 g of this Council, and that all deliberations of this Council and of an of its committees s that resulted in such formal action, were in meetings open to theublic in compliance with p � p all legal requirements including Ohio Revised Code Section 121.22. Section 8. Under Section 4.04 of the Charter of the Cit this Ordinance is Y� an Ordinance for improvements petitioned for by owners of the majority ma requisite ' q Y ( of the front footage or the area of the property benefited and to be assessed and shall be in full force and effect immediately upon its passage. [Signature Page Follows] RECORD OF ORDINANCES BARRETT BROTHERS - DAYTON, OHIO Ordinance No. 03-19 Sia4d: [�fyor — Pres ifn g Officer ttest: A I-, /j 11/'il� 1111-d / A f /, /, - Clerk of Council Passed: February , 2019 Effective: Februaryo, , 2019 Pu�Pa,� 3 of 5 Form 6220S To: Members of Dublin City Council a From.* Dana L. McDaniel, City Man Date.: February 5, 2019 Ini"U'ated By,: Colleen Gilger, Director of Economic Development Jeremiah GraciaEconomic Development Administrator Re:, Resolution Nos. 08-19 and 09-19 Ordinance Nos. 03-19, 04-19 and 05-19 Property Assessed Clean Energy (PACE) Special Improvement for Bridge Park Block D Property Assessed Clean Energy (PACE) programs represent a great mechanism available for financing energy efficiency and renewable energy improvement projects. PACE allows qualifying tnergy improvements to be financed through assessments on a property owner"s real estate tax bill. [A summary of PACE is provided as an attachment to this memo.] The City has no financial obligations with the establishment of a Special Improvement District for this project. The City simply serves as a pass through entity for the project rinancing. Therefore, a I building ownership may request future Ordinances to oe passed as emergencies to allow for closing to take place following the second reading on February 25, 2019. That decision will be at the sole discretion of Dublin City Council. Staff recommends Council approve Resolution Nos. 08-19 and 09-19 on February 11, 2019 and Ordinances Nos. 03-19, 04-19 and 05-19 on February 25, 2019. Please contact Jeremiah Gracia with any questions. Memo re. PACE fat Bridge Pah Block D Febmary 5, 2019 Page 2 oft WHAT IS PACE? Prood" Assailed ooh Franey IPAc91r a fimiei "dhNM got Nhi beam 111i Nei far e,i all .... y rerecovade,eg eny Ind WIN, on prolem- PAR financly 6 repaid 1111 assessm meon Ne pmpem/s dto del, and Ir processed the, same it at drier b,11 pursue lunefit rm gWewarks, sedi have n far deodes. Ce Mmg o IryWation PME Non Yusad for mmme acrd Nonprofit am mrmetul propani HOW DOES IT WORK? Flt pmgaams are enatlWad of and aalbred to meet region legklatbn a III tNt adnwes M111 leer ho mint FACE progtann ad onal gomnments tare developed a rarlety of Not mldtlnNt nrve teen mmsrfully lmplemmted. Pegadlerr of month, dtere are sareml Feyst arat that Find true for ercry PAR Ni Mary for At parker involved WMofa WMaa's hard and soft costs . • Ng financing terms no m 20" Ins l • Fdly, lrcal and federal rcmtice programs. ratgy pmlHllu tr, , drmani Nfirtd to a property • Then PKE assexmmtls fi4tl when Nelml muddpallryasa leen Ad me,property. WHY IS IT SO POPULAR? Property wmws lave PACE Ni n.. toy an fund prodat mm no ou.W nexced III ort PAR finanthing terms ovi to M yearslfI posslde toureertatr Map rtcvfitr Wt Fare Indiangful ei Ni and a sgnhfiwt Impa onmMne energy savings ex eb a PACE prept... all N,,dien innmi.sssmentpaynn opropelroadn are cnnfiw poldve Immedarey That mean. there rte moeassd 611111 had on lx.p.m on whew oplulinual bNowerexperiamorbuhanessexpandon. wl goeemmme.lme PACE beeou near endi oavelopmentlnaadama lw ,memsmfddngnuaness Inmermmmun" It enmunges new dulms IN uearm Ids IN me bol worki PACE Indent, rdp have, a Ni Ima Nal, III mit NIthmo n,g 11h re IMk n enommtla HOW CAH 1 GET PACE? as for all me Nods and re.wrres Inn nem m get.or�d wnn P[E Check m sse n your art M. weed a Pi statute, and n put art has an Indent pot If nine candmi to fiM and ether, I,,lodal Indi In denlopm.m add we may he i to put pu m Inch wed a iti ,fni WeInk forwii wneanyfiomywi BENEFITS OF PACE PACENation WENIEM Is the her an,l firdi We d o Ii the edocaa 24 CERTIFICATE The -undersigned Clerk of Council hereby certifies that the e foregoinis a tru g copy aV, ]-19 duly adopted by the Council of the City of Dublin, Ohio on of�qrdin. No. 2019, and that a true copy of such Ordinance was certiffied to the County Auditor of Franklin County, Ohio within 15 days after its passage. Clerk of the Council City of Dubl in, Ohio RF-,VEIPT OF COUNTY AUDITOR FOR LEGISLATION DETERMINING TO PROCEED WITH ACQ111SITI CONSTRUCTION,, AND IMPROVEMENT OF CERTAIN PUBLIC IMPROVEMENTS IN THE CITY OF DUBL HIO IN COOPERATION - WITH THE COLUMBUS REGIONAL ENERGY SPECIAL IMPROVEMENT DISTRICT 1, Clarence E. Mingo 11, the duly elected, qualified, and. acting Auditor in and for Franklin County, Ohio hereby certify that a certified copy of Ordinance No. 49 duly adopted by the Council of the City of Dublin, Ohio on [ -_], 2019, determining to 0 it- I proceed with the acquisi ton, construction, and improvement of certain public improvements a-1 the City of blin, Ohio in cooperation with the Columbus Regional Energy Special Improvement District, was filed in this office on 2019. WITNESS my hand and official seal. at Columbus, Ohio on 2019. Auditor [SEAL] Franklin County, Ohio