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HomeMy WebLinkAbout058-94 Ordinance ".>~."_.~"< r Y".null( - , .' . ORDINANCE NO. 58-94 AN ORDINANCE DECLARING IMPROVEMENTS TO A CERTAIN PARCEL OF REAL PROPERTY TO BE A PUBLIC PURPOSE, DESCRIBING THE PUBLIC INFRASTRUCTURE IMPROVEMENTS TO BE MADE TO BENEFIT THAT PARCEL, REQUIRING THE OWNERS THEREOF TO MAKE SERVICE PAYMENTS IN LIEU OF TAXES, AND ESTABLISHING A MUNICIPAL PUBLIC IMPROVEMENT TAX INCREMENT EQUIVALENT -....,... FUND, FOR THE DEPOSIT OF SUCH SERVICE PAYMENTS, AND DECLARING AN EMERGENCY. 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 oftime, 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, and establish a municipal public improvement tax increment equivalent fund into which such service payments shall be deposited; and WHEREAS, Continental Real Estate Companies, an Ohio corporation, intends to acquire certain real property located in the City, which property is described in Exhibit A hereto (the Property), and contemplates making improvements to the Property, and this Council expects to make the public infrastructure improvements described in Exhibit B hereto, that once made would benefit the Property; 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 Property pursuant to Section 5709.42 of the Ohio Revised Code; and ~,. WHEREAS, notice of this proposed ordinance has been delivered to the Board of Education of each affected School District in accordance with Section 5709.40 of the Ohio Revised Code; NOW, THEREFORE, BE IT ORDAINED by the Council of the City of Dublin, Franklin, Union and Delaware Counties, Ohio, that: Section 1. Pursuant to and in accordance with the provisions of Ohio Revised Code Section 5709.40, this Council hereby fmds 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 defmed 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 Sections 5709.40 and 5709.42 of the Revised Code, all in accordance with the requirements of said Sections 5709.40 and 4709.42. Section 2. 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 benefit, or that once made wiil benefit, the Propeny \the imrastrucmre improvements). Section 3. As provided in Section 5709.42 of the Revised Code, the owner of the Improvement is hereby required to, and shall make, service payments in lieu of taxes to the County Treasurer on or before the final dates for payment of real property taxes, which service payments shall be deposited in the Perimeter Center Project Municipal Public Improvement Tax Increment Equivalent Fund established in Section 4 hereof. The Agreement between the City and Continental Real Estate Companies or its successors and assigns, 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 '--1- , "'<;f ", . ordinance and not substantially adverse to this City 'and which shall be approved by the City Manager and Director of Finance. The City Manager and Director of Finance, for and in the name of this City, are hereby authorized to execute that Agreement, provided further that the approval of changes thereto by those officials, and: their character as not being substantially adverse to the City, shall be evidenced conclusively by their 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 r arrangements as are necessary and proper for collection from the owner of said service payments in lieu of taxes. Section 4. This Council hereby establishes pursuant to and in accordance with the provisions of Section 5709.43 of the Ohio Revised Code, the Perimeter Center Project Municipal Public Improvement Tax Increment Equivalent Fund (the Fund), into which shall be deposited all of the service payments in lieu of taxes distributed to the City with respect to the Improvements on the Property by or on behalf of the County Treasurer as provided in Section 5709.42 of the Ohio Revised Code, and hereby provides that all of the moneys deposited in the Fund shall be used solely for the following purposes: (i) To pay the cost of constructing the Infrastructure Improvements; and (ii) To pay the interest on and principal of bonds or notes issued by the City in order to finance the Infrastructure Improvements until such notes or bonds are paid in full. The Fund shall remain in existence so long as such service payments are collected and used for the aforesaid purposes, after which said Fund shall be dissolved in accordance with said Section 5709.43. Section 5. Pursuant to Section 5709.40 of the Ohio Revised Code, 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(D) of the Ohio Revised Code. 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 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 funding for the Infrastructure Improvements so that the Infrastructure Improvements may be constructed as quickly as possible; thereby permitting the Improvement to be constructed as quickly as possible, providing necessary jobs and employment opportunities and improving the economic welfare of the people of the City; wherefore, this ordinance shall be in full force and effect immediately upon its passage. Signed: J;:~ficer Attest: ~ (L~ Clerk of Council . . h. Ordinancetlfisolul;Grrwere posted In the Passed: ~ ;.. 0 , 1994 I hereby cerl;fy that copies of ~~s S ctlon 731 25 of the €Mlio Revised Code. City of Dublin in Qttordance w: e I . Effective: ~ ,{O ,1994 ~ C!.-- C:~ Cleric of Council. Oublln. 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EXHIBIT A LEGAL DESCRIPTION OF PROPERTY 33.398 ACRE TRACT Situated in the State of Ohio, County of Franklin, City of Dublin and being 33.398 acres of Reserve "A" of that subdivision entitled,"Perimeter Center'\ of record in Plat Book 72, Pages 47 & 48, a/l references being to those at record in the Recorder's Office, Franklin County, Ohio and being more particularly bounded and described as follows; Beginning for reference at the point where the centerline of Perimeter Loop Road Intersects the centerline of Perimeter Drive; thence northwesterly along the centerline of Perimeter Drive and the arc of a curve to the right (Radius = 620.00 feet, Delta = 230 41' 36") a chord bearing and distance of North 750 36' 50" West, 254.56 feet to a point; thence leaving said centerline South 260 13' 58" West, along a line radial to the above described curve, a distance of'50.00 feet to a point in the existing southerly right-of-way W" line of Perimeter Drive marking the northwesterly corner of an existing 0.707 acre tract and being the true place of beginning for the following described tract of land: thence leaving said southerly right-at-way line South 270 41' 13" West, along a westefly line of said 0.707. acre tract, a distance at 83.61 feet to a point at curvature to the left; thence southwesterly along the arc at saId curve and a westerly line 'of said 0.707 acre tract (Radius = 233.00 feet, Delta = 31- 54' 35") a chord bearing and distance of South 11- 43' 55" West, 128.09 feet to the point of tangency; South 4- 13' 22" East, passing the southwesterly corner of said 0.707 acre tract at 80.00 feet, a total distance of 287.46 feet to a point; thence South 85. 46' 38" West, a distance of 758.01 feet to a point of curvature to the left; thence southwesterly along the arc of said curve (Radius = 180.00 feet, Delta = 36. 24' 34") a chord bearing and distance of South 6r 34' 21" West, 112.47 feet to the point ot tdngency; thence South 490 22' 04" West, a distance of 82.79 feet to a point in the existing northeasterly right-of-way line of Perimeter Loop Road; thence along the northeasterly right-at-way line of Perimeter Loop Read, the following courses and distances: ... ....---...----.-......-..-, -, .:,..,., ,? r. r,'l ,., .. . f:.!,';:J U ~r. I~ ; ,'i ~': :.J _., . :'J ~ ';1, 1 : ~~.r t----'---------,!~:'! Continued.......... . . ; ~ :.~ ; ~ . ' I, !,.t 6 ~r'..-""'\ ..,;.,..' - . -"- ~ " . ' I. .1 .... """,__ ~ . ^"J L_., _~_.~_.___,_j . r.qy nF r'llSi r:'.! i . -." ..:.'" .'- '-- ,=-'-. ._!_~- ..':::.=.:.::..: .... - . --~,,-~-~'.."-~~.~~-. Il-T'jC'il!t -~ . ,... 33.398 ACRE TRACT _# - Page 2 - North 40. 37' 56" West, a distance of 201.00 feet; North 27. 45' 2611 West, along the arc of a curve to the right (Radius = 370.00 feet, Delta = 250 45' 0011) a chord distance of 164.89 feet to the point of tangency; . North 140 52' 56" West, a distance of 297.48 feet to an angle point in said right-of-way /lne; North 10. 491 54" West, a distance of 111.10 feet to a point of curvature to the left; and... North 35. 23' 2911 West, along the arc of said curve to the left (Radius = 400.00 feet, Delta = 290 07' 00"), a chord distance ot 201.09 feet to a point; thence leaving the northerly right-of-way line of Perimeter Loop Road, across Reserve "A" the following courses and distances: , North 420 11' 57" East, a distance of 49.65 feet to a point of curvature to the left; North 18.47' 09" East, along the arc of said curve (Radius = 110.00 feet, Delta = 460 49' 35") a chord distance of 87.42 feet to the point of tangency; and... North 4. 37' 38" West, a distance of 511.37 feet to a point in the southerly right-at-way line of Perimeter Drive; thence along the southerly right-of-way line of Perimeter Drive the following courses and distances: North 85. 22' 22" East, a distance of 408.50 feet to a point of curvature to the right; South 560 18' 39" East, along the arc of said curve (Radius = 570.00 feet, Delta = i6e 37' 56") a chord distance of 706.80 feet to the point of tangency; South 170 59' 42" East, a distance of 101.34 feet to a point of curvature to the left; and... South 40.52' 52" East, along the arc of said curve (Radius = 670.00 feet, Delta = 450 46' 20") a distance of 521.12 io the true place of beginning and containing 33.398 acres, more.or less. Continued.......... '-'--""'-~-"-~-~--'"""'~------------ "~, ~ 4 J 33.398 ACRE TRACT - Page 3 - The above description was prepared for rezoning purposes only and is not Intended for transfer. EVANS,MECHWART,HA ( . Lawr e E. Ball Professional Surveyor No. 6878 LEB/mf , . '~' . , .' .-, - . ~'" . Oc.....,._...o...._ . - _~""'<"''io-''''''~~~ 4 . , . Exhibit B: Description of Public Infrastructure Improvements PERIMETER CENTER Public Improvements .~ The public improvements consist of extending all or a part of Coffinan Road south approximately 2,500 lineal feet from Post Road to US 33, and extending all or a part of Perimeter Drive east approximately 1,000 lineal feet from Commerce Parkway to the proposed Coffinan Road extension. The public roadway improvements include three-lane pavement for Perimeter Drive and four-lane pavement with landscaped median for Coffinan Road, curbs and gutters, street lighting, storm sewers, sidewalk and/or bikeways, a bikeway underpass at the intersection of Coffinan Road and Perimeter Drive, water main, sanitary sewer, traffic control devices, and landscaping within the right-of-way. In addition, the public improvements include design and other related costs, right-of-way acquisition, final plat preparation as required, erosion and sediment control measures, grading and other related work, survey work, soil engineering for the public street, construction staking and all other matters and activities necessary and appurtenant to those public improvements. -, fflt,...