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HomeMy WebLinkAbout53-95 Ordinance ,..... . -; ;" (Amended) ORDINANCE NO. 53 - 95 AN ORDINANCE AUTHORIZING THE EXECUTION AND DELIVERY OF VARIOUS REAL ESTATE AND ECONOMIC DEVELOPMENT AGREEMENTS BETWEEN THE CITY AND THE ALTER GROUP, LTD. AND THE DUBLIN AREA COMMUNITY IMPROVEMENT CORPORATION TO INDUCE THE ALTER GROUP, LTD. TO ACQUIRE CERTAIN REAL PROPERTY WITHIN THE CITY AND ~ TO CONSTRUCT THEREON AT LEAST 120,000 SQUARE FEET OF OFFICE SPACE IN ORDER TO INCREASE EMPLOYMENT I WITHIN THE CITY, AND DECLARING AN EMERGENCY. ... WHEREAS, pursuant to that certain Purchase Agreement dated as of February 2, 1995, as amended (the "Purchase Agreement"), the City has acquired the right to purchase certain real property located in the City and described in the Purchase Agreement (the "Property"); and WHEREAS, Whitmire Distribution Corporation ("Whitmire"), a wholly-owned subsidiary of Cardinal Health, Inc. ("CHI"), desires to acquire the Property and to donate approximately 10.2 acres thereof (the "CIC Parcel") to The Dublin Area Community Improvement Corporation (the "CrC") and to transfer approximately .7 acres thereof to The Alter Group, Ltd., an Illinois corporation ("Alter") (such CIC Parcel and such . 7 acre parcel being collectively referred to as the "Alter Parcel"); and WHEREAS, the CIC desires to convey to Alter the CIC Parcel; and WHEREAS, Alter wishes to acquire the Alter Parcel and to construct thereon at least 120,000 square feet of office space; and "... WHEREAS, the City wishes to induce the CIC to acquire the CIC Parcel and to convey the CIC Parcel to Alter, and to induce Alter to acquire the Alter Parcel for the purpose of creating and __ preserving jobs and employment opportunities and to improve the economic welfare of the people of the State of Ohio and the City as authorized in Article VIII, Section 13 of the Ohio Constitution; NOW, THEREFORE, BE IT ORDAINED by the City of Dublin, Franklin, Union and Delaware Counties, Ohio, that: Section 1. The City hereby finds and determines that it is necessary and appropriate and in the best interests of the City to provide certain assistance to Alter ln acquiring the Alter Parcel for the purpose of creating and preserving jobs and employment opportunities and to improve the economic welfare of the people of the State of Ohio and the City as authorized in Article VIII, Section 13 of the Ohio Constitution and Chapter 165 of the Ohio Revised Code. ,..... ----.--.--- - . 4 ,,' Section 2. To provide assistance to Alter and thereby induce the CIC to acquire the CIC Parcel and convey the CIC Parcel to Alter, and to induce Alter to acquire the Alter Parcel and to complete the transactions contemplated between the City, Alter and the CIC, the City Manager and the Director of Finance, for and in the name and on behalf of the City, shall execute, acknowledge and deliver, the following documents in substantially the form thereof on file with the Clerk of Council: __ (a) The Economic Development and Sale Agreement by and between the City, the CIC and Alter; and .... (b) The Tax Increment Financing/Economic Development Agreement between the City and Alter. Those instruments are approved with changes therein not inconsistent with this ordinance and not substantially adverse to the City and which are permitted by law and shall be approved by the City Manager and the Director of Finance; provided, that the approval of those changes by such officers, and their character as not being substantially adverse to the City, shall be evidenced conclusively by their execution of those instruments. Section 3. .The City Manager and the Director of Finance shall execute, deliver and, if applicable, file, for and in the name and on behalf of the City any deeds, certifications, assignments and instruments which are necessary or appropriate to consummate the transactions contemplated in this ordinance, the Economic Development and Sale Agreement and the Tax Increment Financing/Economic Development Agreement. Section 4. This Council finds and determines that all formal actions of this Council concerning or 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 5. This ordinance is declared to be emergency measure and necessary for the immediate preservation of the public peace, health, safety or welfare of this City and for the further reason that this ordinance is required to be immediately effective in order to provide for the implementation of economic development incentives for the Alter Parcel at the earliest possible time to create jobs and employment opportunities and improve the economic - ---_.._----~- ."""~,~"--~~_.__.~ - .. ,. welfare of the people of the City; wherefore I this ordinance shall be in full force and effect immediately upon its passage. Signed: 9u~ Pr~id ng fficer tfI1III' I Attest: ..... ~C!--~ Clerk of Council Passed: ~,U, I 1995 -- Effective: r),L I 1995 94/21583ord.02c ..... .... I h~'~IJV corf:fv ~"l"f '111\ t!.; 0" ~ i),.1 t1~n(e.4tlf)llluliu,,-were posted in the Cty of Dublin in o((ordolKe w;tlt Section 731.2S of the Ohio levisacl Codt. ~~ Clerk of Councill Dublin, Obio