HomeMy WebLinkAbout061-94 Ordinance
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ORDINANCE NO. ~-94
AN ORDINANCE DECLARING IMPROVEMENTS TO CERTAIN PARCELS
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 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, and establish a municipal
public improvement tax increment equivalent fund into which such service payments shall be
deposited; and
WHEREAS, Cooker Restaurants owns or 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
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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 will benefit, the Property (the Infrastructure 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 Cooker Restaurants Project Municipal Public Improvement
Tax Increment Equivalent Fund established in Section 4 hereof. The Agreement between the
City and Cooker Restaurants 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 ordinance and
not substantially adverse to this City and which shall be approved by the City Manager and
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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 arrangements as are necessary
and proper for collection from the owner of said service payments in lieu of taxes.
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Section 4. This Council hereby establishes pursuant to and in accordance with the
"........ provisions of Section 5709.43 of the Ohio Revised Code, the Cooker Restaurants 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 fmds 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 an~ 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:
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PresidL g Of leer
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Attest: ~ C!-~
Clerk of Council
Passed: ~), (" 1994 I hereby ce~;~ that copies of this OrdinoncelResGJlltisA--were posted in the
Effective: r ;l D ,1994
City of Dub'm m accordance with Section 731 25 of th 0fJ' R .
. e 10 eVlsed Code.
~C-~
Clerk of Council, Dublin, Ohio
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EXHIBIT A
LEGAL DESCRIPTION OF PROPERTY
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PROPOSED COOKERS RESTAURANT.
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, Situated in the State of Ohio. Couhty of Franklin.: City of Dublin, being located in :
Virginia Milit~ry Survey No. 2542 and'being'deserlbed as follows:.' " ", .
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. Beginning at the point of intersection of the s~uthe~ right-of-way Hne of U:S. Route
33. State Route- 161, with the Centerline of Frantz Road:
. thence southerly, alonsthecenterline of Frahtz Road, a distance of approximately.
425 feet to a :poi~t I
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thence westerly, along the: proposed northerlY righ~-of-way line of a Street and said
line extended easterly, a, distance of approXimately:S60 feet to a point; .
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, thence northerly, adistanee.Of'~PPrOxlmat~iy 37~ feet to a point In the 'southerly
,,.-. right-of-way Une of V.S. Route 3$.- State Route 161; ~'
""""" thence easterly. along said right;.of-way line.! a distance of approximately 340 feet
to the point of beginning. ' . "
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Exhibit B: Description of Public Infrastructure Improvements
COOKER RESTAURANT
Public Improvements
,..... The public improvements consist of a 'portion of the extension of a new three-lane pavement from
Metro Place North to connect with Frantz Road totalling approximately 1,800 lineal feet in
"it.iUi;,w length. The public roadway improvements include three-lane pavement, curbs and gutters, street
lighting, storm sewers, sidewalk and/or bikeways, and landscaping within the right-of-way. Also
included are improvements to the intersection of Metro Place North with Frantz Road to upgrade
the existing traffic signal and for the addition of turn lanes on Metro Place North. Street lighting
along Frantz Road from Post Road to Metro Place North is also included in the public
improvements. 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.
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