138-99 Ordinance ORDINANCE NO. 13 8-99
AN ORDINANCE AMENDING ORDINANCE NO. 14-96
PASSED APRIL 1, 1996 TO EXTEND THE PERIOD DURING
WHICH PREVIOUSLY IDENTIFIED IlVIPROVEMENTS TO
CERTAIN PARCELS OF REAL PROPERTY WII,L BE A
PUBLIC PURPOSE AND THE OWNERS THEREOF WII,L BE
REQUIRED TO MAKE SERVICE PAYMENTS IN LIEU OF
TAXES, AND PROVIDING FOR PAYMENT OF A PORTION
OF THOSE SERVICE PAYMENTS RECEIVED DURING THAT
EXTENSION PERIOD TO THE DUBLIN CITY SCHOOL
DISTRICT, AND DECLARING AN EMERGENCY.
WHEREAS, pursuant to Ohio Revised Code Sections 5709.40, 5709.42 and 5709.43, this
Council, on April 1, 1996, passed Ordinance No. 14-96 (the TIF Ordinance) thereby declaring
improvements to parcels of certain real property located in the City (as described and depicted in
the TIF Ordinance and referred to therein as the Property) to be a public purpose, exempting those
improvements from real property taxation for a period of time, specifying public infrastructure
improvements (as described in the TIF Ordinance and referred to therein as the Infrastructure
Improvements) to be made to benefit those parcels, providing for the making of service payments
in lieu of taxes (the Service Payments) by the owner(s) thereof, and establishing a municipal public
improvement tax increment equivalent fund (the Fund) into which those Service Payments were to
be deposited; and
WHEREAS, the Dublin City School District approved the TIF Ordinance prior to its
passage; and
WHEREAS, this Council desires to extend the period during which the owner(s) of the
Property must make Service Payments in order to pay additional costs of those Infrastructure
Improvements and provide for payments to the Dublin City School District during that period of
extension equal to the amounts that School District would otherwise receive as real property tax
payments; and
WHEREAS, notice of this amendment to the TIF Ordinance has been timely delivered to
the Dublin City School District and the Central Ohio Joint Vocational School District in
accordance with Ohio Revised Code Section 5709.83;
NOW, THEREFORE, BE IT ORDAINED by the Council of the City of Dublin,
Delaware, Franklin and Union Counties, Ohio, that:
Section 1. Section 1 of the TIF Ordinance is hereby amended to provide as follows:
"Section 1. Pursuant to and in accordance with the provisions of Ohio Revised
Code Section 5709.40, this Council hereby finds 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 "Improvements" as defined
in Section 5709.40) is a public purpose, and 100% of the Improvements is hereby
declared to be a public purpose and exempt from taxation for a period commencing on
the date of passage of this Ordinance and ending thirty (30) years thereafter. Until such
time as the aggregate amount of monies deposited into the Thomas/Kohler Municipal
Public Improvement Tax Increment Equivalent Fund (the Fund) established pursuant to
Section 4 of this Ordinance equals three million dollars ($3,000,000), all of such monies
so deposited into the Fund shall be used solely for the purposes set forth in subsections
4(i) and 4(ii) of this Ordinance. After the aggregate amount of all monies deposited into
the Fund equals $3,000,000, all monies collected pursuant to Section 2 of this Ordinance
and Section 5709.42 of the Revised Code shall be distributed as follows:
(i) Pursuant to Ohio Revised Code Sections 5709,40 and 5709,42, the
Franklin County Treasurer shall distribute to the Dublin City School District from those
payments in lieu of taxes provided for in Section 3 of this Ordinance, and at the same
i
time and in the same manner as real property tax payments, amounts equal to the amounts
that School District would otherwise receive as real property tax payments derived from
the Improvement absent the passage of this Ordinance; and
(ii) The remaining monies shall be deposited into the Fund and used for the
purposes set forth in subsections 4(i) and (ii) of this Ordinance."
Section 2. Existing Section 1 of the TIF Ordinance is hereby repealed.
Section 3. Except as provided herein, all other provisions of the TIF Ordinance shall
y remain in full force and effect and the City Manager and Director of Finance are directed to make
such arrangements as aze necessary and proper for collection of the Service Payments. The City
Manager and the Director of Finance are authorized to prepare or cause to be prepared and to
submit to this Council for approval any amendments or supplements to that certain Tax Increment
Financing and Economic Development Agreement between the City and Duke Realty Limited
Partnership, F.A. Kohler Company and R.R Paztners, which amendments or supplements may be
in the form of a sepazate agreement, and providing for the payment of frther costs of the Public
Infrastructure Improvement permitted and contemplated by this Ordinance. Those City officials
are further authorized to provide such information and to execute, certify or furnish such other
documents, and to do all of the things as are necessary for and incidental to carrying out the
provisions of this Ordinance.
Section 4. Pursuant to Section 5709.40 of the Ohio Revised Code, the Clerk of 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.
Section 5. 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.
~ro
Section 6. This Ordinance is declared to be an emergency measure necessary for the
immediate preservation of the public peace, health, safety and welfaze of the City, and for the
further reason that this Ordinance is required to be immediately effective in order that the
Infrastructure Improvements may be constructed as quickly as possible, which is necessary to
provide transportation improvements at the earliest possible time and thereby improve the safety of
the citizens of the City; wherefore, this Ordinance shall be in full force and effect immediately upon
its passage.
Signed:
Presiding Officer
Attest: ~
Clerk of Council
Passed: ~ 2000
Effective: ~ 2000
I hereby certify that copies of this Ordinance/fiesotuti~n vrare posted in the
City of Dublin in accordance with Section 731.25 of tine ~,ia Revised Coda,
~SS~l Cierk Council, Du6iin~ Ohio
-2-
- . u.,.~ . _ a
Office of the City Manager
5200 Emerald Parkway • Dublin, Ohio 43017-1006
Phone: 614-761-6500 • Fax: 614-889-0740 Memo
CITY OF DUBLIN
To: Members of Dublin City Council
From: Timothy C. Hansley, City Manager ~
Date: December 9, 1999
Re: Ordinance 138-99, An Ordinance Amending Ordinance No. 14-96 (Thomas/Kohler TIF)
to Provide a Funding Mechanism for the Continued Construction of Emerald Parkway
Initiated by: Marsha I. Grigsby, Director of Finance ~MOR-
Ordinance No. 138-99 provides an amendment to the existing legislation that established the
Thomas/Kohler TIF district. The modification to the original legislation was previously discussed as part
of the proposed incentive package with Qwest Communications International (Qwest). At this time, Qwest
has put their decision to consolidate their Central Ohio operations "on hold"; however, it is important to
maintain the flexibility provided by this amendment to fund the Emerald Parkway project for any future
development. As you are aware Two Parkwood, the second office building in the TIF district, is under
construction with a scheduled completion in mid-2000. More importantly, this financing mechanism will
allow the City to continue to more aggressively fund roadway projects, an established City Council goal.
As discussed in the August 5, 1999 memo to City Council, the TIF district in effect for the "Thomas/Kohler
site" included the Emerald Parkway from Shier Rings Road to Innovation Drive roadway project in the
Description of the Public Improvements. The modification proposed in Ordinance No. 138-99 provides
for the implementation of a "non-school district" TIF after the terms of the "straight TIF" expire. By
extending the period of time that service payments can be received, the City will be able to utilize the TIF
to fund a portion of the project costs for the Emerald Parkway from Shier Rings Road to Innovation Drive
project.
As identified in Section 3 of this Ordinance, any amendments or supplements to the existing TIF/Economic
_ Development Agreement between the City and the developers will be submitted to City Council at the
applicable time. Any amendments or supplements would, in substance, mirror this Ordinance, but would
also include specific details related to the economic development project.
For reference, the August 5, 1999 memo and related exhibits are attached. If you have any questions, please
do not hesitate to contact Marsha.
G:\PER\DKP\99\217-9-ord 138memo.doc
1
CITY OF DUBLIN
Memo
w
To: Members of Dublin City Council
From: Timothy C. Hansley, City Manager
Date: August 5, 1999
Re: Incentive Package for Qwest Communications International
Initiated by: Richard B. Helwig, Director of Development
Marsha I. Grigsby, Director of Finance
Back.rg ound
As City Council is aware, Qwest Communications International (Qwest) plans to consolidate and
expand its operations currently existing in Central Ohio. In an effort to encourage this expansion
and growth to occur in Dublin, Mr. Donald Hunter, representative for Duke-Weeks (formerly Duke
Realty Investments), has requested that the City provide an incentive package to Qwest in order
to be competitive with other sites in Central Ohio. As a result of Mr. Hunter's request, at the July
6, 1999 City Council meeting, City Council, by motion, directed Staff to work with Duke-Weeks
"`p to create an incentive package to retain and allow for Qwest to grow in Dublin.
Evaluation Completed to Develop an Incentive Package
As a result of City Council's direction, City Staff began reviewing the information packet prepared
by Mr. Hunter and evaluating potential mechanisms available to fund an incentive package.
Based on discussions with Mr. Hunter and Qwest representatives since the July 6, 1999 City
Council meeting, Staff feels confident the Qwest expansion will occur in either Dublin or Hilliard.
The City of Hilliard has offered 100% tax abatement for 15 years on all new private improvements
constructed for Qwest. The projected value of this incentive for an initial 200,000 square-foot
office building is $6.7 million over the 15-year period. Any additional expansion would also
receive tax abatement.
Based on Hilliard's offer, Mr. Hunter requested Dublin provide an incentive package offering
$400,000 a year to Qwest for a period of 12 years in connection with Qwest making a 200,000
square-foot lease commitment in the Two Parkwood/Three Parkwood buildings for a total current
incentive value of $4.8 million. In addition to the $4.8 million, an additional payment of up to
$236,000 per year was requested if the expansion was beyond the initial 200,000 square-foot lease.
This could potentially result in the current value of the incentive reaching in excess of $7.6 million.
In evaluating the City's options, it is important to keep in mind that if Qwest were to expand their
Page 2
operations in Hilliard instead of Dublin, the City would lose approximately 1,100 employees who
are currently working in Dublin next year when the new facility is completed. This would result
in an annual loss of approximately $858,000 in withholding income tax revenue or approximately
$10.3 million over the term of the 12-year lease with Duke. There would also be the potential to
lose the 1,150 employees who are located at One Parkwood at some point in the future.
Our first goal in looking at what incentive package to propose was "What can we offer without
negatively impacting our current financial position and capital improvements program?" We began
looking at options to fund roadway projects that are programmed in the 2000-2004 Capital
Improvements Program (CIP) and specifically those projects that have a direct impact on this
development. We also looked at new income tax revenues that would be generated from existing
Qwest employees involved in the consolidation who are not currently working in Dublin. We have
identified three items that can mitigate the impact of the proposed incentive.
Item # 1
The tax increment financing (TIF) district currently in effect for the "Thomas/Kohler site" included
several roadway projects in the Description of the Public Improvements (Exhibit 1) that we are
currently planning to fund with income tax revenues. We can utilize service payments, instead of
income tax revenues, for partial funding if the TIF agreement is modified to a "non-school TIF"
after the terms of the "straight TIF" expire (Exhibit 2). The only project that is being partially
funded from the Thomas/Kohler TIF is Emerald Parkway from Rings Road north to the northern
property line of the Thomas/Kohler site and Parkwood Place which is an internal roadway to the
Thomas/Kohler site.
By modifying the TIF, we can utilize service payments instead of income tax revenues to fund,
over time, the estimated construction cost of Emerald Parkway from Shier Rings Road to
Innovation Drive. This would result in an estimated $2 million in income tax revenues previously
programmed for the project being available for the Qwest incentive package.
Item #2
Another project identified in the Descriptions of the Public Improvements is the widening of
Emerald Parkway from Rings Road to Tuttle Crossing Boulevard (formerly known as Britton
Parkway). Mr. Hunter has been working with the City of Columbus and the State of Ohio,
Department of Development (DOD), to obtain the majority of the funding for this project. Because
of the number of jobs involved with the Qwest project, he has received an informal commitment
from DOD for $750,000 to $1,000,000 for this project. The City of Columbus has informally
committed to at least $600,000 for this project because a portion of the roadway is within
Columbus and will also provide a benefit to the existing development in Columbus. T'he remaining
$400,000 to $650,000 has been identified as Dublin's share of the project.
Staff has requested that the DOD funding be redirected to the Emerald Parkway from Perimeter
Drive to Shier Rings Road project (Overpass Project) and allow the modified TIF to fund the
portion of the Emerald Parkway from Rings Road to Tuttle Crossing project that was being
proposed to be funded by DOD funds. The portion proposed to be funded by Dublin can also be
funded by the modified TIF. This would result in $750,000 to $1,000,000 in income tax revenues
Page 3
previously programmed for the Overpass Project to be available for the Qwest incentive package.
Item #3
~,~2 The Qwest consolidation would result in an additional 125 employees being located in Dublin in
mid-2000. The estimated average annual salary per employee will be approaching $40,000. This
increase in employees would result in an additional $100,000 annually in withholding income tax
revenues collected by the City.
Qwest has also identified their intentions to create 500 new jobs within athree-year period. This
increase in employment would further increase annual withholding income tax revenues by
$400,000.
Staff has also been involved in discussions with the Ohio Department of Transportation (ODOT)
with regard to financing both the Emerald Parkway projects, Perimeter Drive to Shier Rings Road
and Shier Rings Road to Innovation Drive, through ODOT's State Infrastructure Bank (SIB) loan
program. If we can utilize the SIB loan program, savings in the form of lower interest payments
over the term of the debt will be realized.
Proposed Incentive Package
Based on Items #1 - 3, the financial impact of the proposed incentive package can be mitigated.
The following can offset the $4 million incentive paid over the ten-year period:
• $2,000,000 in service payments from a modified Thomas/Kohler TIF for the Emerald
Parkway-Shier Rings Road to Innovation Drive project;
• $750,000 to $1,000,000 received from DOD for the Emerald Parkway-Perimeter Drive
to Shier Rings Road project;
• The new withholding income tax revenue generated by the 125 new jobs relocating to
Dublin as a result of the consolidation, which is estimated at $100,000 a year or
$1,000,000 over the term of the incentive package.
Conclusion
Staff feels the proposed incentive, in conjunction with the City's past and future investment in
roadways, represents a competitive offer that will not adversely impact our financial position or
capital program.
i?XHIBiT B
DESCRIPTIO\~ OF PUBLIC IyIPROj'L~~IL\ T S
The Public Improvements consist of constructing al( or a portion of a new north-south street
(Emerald Parkway) to connect Britton Partway south of Rims Road ~:'ith Shier Rings Road; a
new east-west street (tiVoerner-Temple Road) extending west to Aveiti' Road from Rims Road
~-4 at I-270; a commercial loop road located east of Emerald Parkway and connecting Emerald
Parkway at the north end of the Property with SVoerner-Temple Road; znd widening Britton 3O
Parkway from Rings Road to Tuttle Crossing Boulevard. The oublic roadway improvements for
Emerald Parkway. Woerner-Temple P.oad and the loop road include pavement, landscaped
median, curbs and gutters, two culvert crossings over Crame_ Ditch, one culvert crossing over
Geary Ditch, one culvert crossing over Cosgray Ditch, street lighting, storm sewers, sanitary
sewers-, water mains, sidewalk and bikeways, bi.':eway underpass, landscaping within the right-
of-way and traffic signal improvements at Shier Rings P~oad and 1Voemer-Temple Road. Also
included is widening of Britton Parkway from three to four lanes south of Rings P.oad. In
addition, also included are any necessary il-nprovements to Rings Road and Shier Pings Road
to connect the new streets to existing pavement. In addition, the public improvements include
design and other related costs, any required Land acquisition needed for =iaht-of-way, easements,
final plat preparation as required, erosion and sediment control ;:,ensures, trafficcontrol devices,
grading and other related work, survey work, soil engineering for the public street, construction
staking and all other matters and activities necessary and appu<<enant to those public
improvements.
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REVISED 3/?S/96
ORDINANCE \0. 1='.-90
AN ORDINANCE DECLARING IMPROVEMENTS TO CERTAIN PARCELS
OF REAL PROPERTY TO BE A PUBLIC PURPOSE, DESCRIBING THE
PUBLIC INFRASTRUCTURE IitiIPROVEiV1ENTS TO BE ~'IADE TO BENEFIT
THOSE PARCELS, REQUIRING THE OWNERS THEREOF TO MAKE
SERVICE PAYivIENTS IN LIEU OF TAXES, AUTHORIZING AN
AGREEMENT WITH DUKE REALTY LI~~IITED PARTNERSHIP, F.A.
KOHLER CO\~IPANY AND R_R PARTNERS tiVITH RESPECT TO THOSE
PAYivIENTS, ESTABLISHING A MUNICIPAL PUBLIC IMPROVEMENT
TAX INCREivIENT EQUIVALEi1T FUND FOR THE DEPOSIT OF SUCH
SERVICE PAYMENTS, AUTIORIZING A RELATED Al~1ENDMENT-OF AN
AGREEMENT ~~'ITH TIIE DUBLIN CITY SCHOOL DISTRICT, AND
DECLARING AN EMERGE\TCY.
WHEREAS, Ohio Revised Code Sections X709.^0, X709.-'.? and X709.43 provide that
this Council may declare improvements to parcels or real property located in the City to be a
public purpose thereby exempting those improvements from real property taxation for a period
of time, speciry public infrastructure improvements to be made to benefit those parcels, provide
for the making of semianslual service payments in lies! of taxes by the owners thereof, and
establish a municipal public improvement tax increment equivalent rand into which such service
payments shall be deposited; and
WHEREAS, Duke Realty Limited Partnership, F.A. Kohler Company and RPM Partners
will each acquire certain real property located i,-1 the City, ich property is described in Exhibit
A hereto (collectively, the Prouer<y) znd may be acquired in phases over time, 2nd contemplate
malting improvements to the Prope<< ,and this Council expects to mare the public infrastructure
improvements (ize Infrastructure Improvements) generz!!y describe;; in Exhibit B hereto that
once made would directly benefit u'?e Propery; 2nd
WHEREAS, the need for those Infrastructure Improvements relative to the Improvements
. (as hereinafter defined) on the Prope<< ,and that those Infrastructure L-nprovements will directly
benefit the Property, is documented in part in the City's Sotahwest Area Plan and in the traff
1c
study conducted by Barton-Aschman Associates, Inc. and presented to the City on October 30,
199 ; and
WHEREAS, the City has determined that ii is necessary and appropriate and in the best
interests of the City to pro~~ide for semiannual service payments in lieu of taxes with respect to
the Property pursuant to Section X709.42 of the Ohio Revised Code (the Tax Increm-ant
Financing); and - -
WHEREAS, proceeding ~~~ith rile Tax Increment ~inzncing authorized by this Ordinznce
will be contingent upon the taking etfect of appropriate rezoning(s) of the Property now
proposed and under consideration by this Council; znd
WHEREAS, this Council will, in coordination with the implementation o[ the Tax
Increment Financing, create and z!!ocate to a specizl capital improvement fund for rile initial
financing Of Certain of those Infrastructure Improvements n?UnlClpal 1:tCOme [aXeS (0 bC derl\'ei1
from the Improvements on t:-?e Proaerty and other re~'enues of the City; and
WHEF\E.-~S, rile implementzion o[ the Tax Incr:r:?ent 1=ina;,cing is further contingent on
the exeCLtl0il Oi [I?C ~Lillen~iil:i?i io [fl;: I~ILi11Clp~! 1i1COiiIC "I'?X R'~'•'::nl1e Sharln~ r~gre~iil~ili
referred to in Section ~ o~ this Orin::nc~;
`~~I-Ii~i\L.r~.S, nOtl:.'.. Oi ih:. "~?:i Ii'.Ci::ii?Cili I'!n?i._.. i7rOpOS::G tills OCdina^CC 1??S U~Cn
dellver:a [0 ins I~uU!!I1 Cii'• S~n00 !J:Sir!CC lil 2000-C__.._~ .i1ii1 SC~:iOi? ~7Q9.°-. l7 Ut ti'... Oi?IO
h\ZVIS2d Cody znd t0 Ci'::. i_~i?i"'I `.Ji..C) loln( `'OC_..~.._.. J~~?00! '.'J:-.r!Ci In ~'CCOrd n~.. '~•'!u'.
Section X709.53 of the Ohdo Revised Code, and pursuant i0 Section X709.^0 the Dublin City
School District has approved o: is deemed ro have approved the exemptions provided for hereb}~;
NOtiV, THEREFORE, BE IT ORDAINED by tiZe Council of the City of Dublin,
Counties of Franklin, Union and Delaware, State of Chio, that:
Section 1. Pursuant io and in accordance with the provisions of Ohio Revised Code
~ Section X709.^-.0, this Council hereby finds and determines that 100% of the increase in true
value of the Property subsequent to t!`le effective date of this Ordinance (which increase in true
value is hereilnafter referred to as the "Improvements" as defined in Section X709.40) is a public
purpose, and 100% of the Improvements is hereby declared to be a public purpose and exempt
from taxation for a period comsnencina on the date of passage of this Ordinance and ending with
the earlier of the lesser of (i) ten (10) }ears or (ii) that number of years ending with the
conclusion of the year in which the amount of service payments in lieu of taxes made pursuant
to Section 3 of this Ordinance and deposited into the Thomas/Kohler Municipal Public
Improvement Tax Increment Equivalent Fund (the Fund) established pursuant to Section 4 of this
Ordinance equals or exceeds the three million dollar (S3,000,000) cost of Infrastructure
Improvements to be paid from that Fund, and the Amendment to the ~~lunicipal Income Tax .
Revenue Sharing Agreement referred to in Section ~ of this Ordinance shall provide that any
amount received into that fund in excess of 53,000,000 shall be paid to ti-]e Dublin City School
District. In no event shall such exemption extend beyond the date on which the City can no
loner require semiannual service payments in lieu of taxes under Sections X709.40 and X709.42
of the Revised Code, all in accordance with ti'le requirements of said Sections X709.40 and
X709.42.
Section The Infrastructure Immprovements set forth in Exhibit B hereto are hereby
designated as those Infrastn!cture Improvements that directly benefit, or that once made will
directly benefit, the Prope~~
Section 3. As provided in Section X709.^-.2 of the Revised Code, the respective owner
or owners of the Improvements are Pereby required to, and shall raa°, semiannual service
payments in lies! of taxes to tl?e County Treasurer on or before the final dates for payment of
real property taxes, which service payments shall be deposited in the Fund established pursuant
to Section ^ of this Ordinance. The Tax Increment Financing and Economic Development
Agreement between the City and Duke Realty Limited Partnership, F.A. Kohler Company and
RR Partners, a copy of which is on file with the Clerk of Council, under •which the Duke Realty
Limited Partnership, F.A_ Kohler Company and RR Partners respectively agree to make
semiannual service payments in lieu of taxes for those portions of the property owned by each
of them, is hereby approved, and ~`le City ~'fanager and Director of Finance are hereby
authorized and directed to execute said Agreement on behalf of the City in substantially the form
on file with Clerk of Council, together with such revisions or additions thereto as are
approved by the City Manager and Director of Finance, a::d those Ciiy officials are funher
authorized to provide such information and to execute, certify or nirnish such Other documents,
and to do all other Il`tings as are necessary for and incidental to carrying orrt the provisions of
that Agreement.
Section-'.. This Council hereby establishes, pursuant to and in accordance with the
provisions of Section X709.43 of the Ohio Revised Code, the TnOn1aS/Konler Project Municipal
Public Improvement Tax Increment Equivalent Fund, into ;~•~i?ich shall be deposited all of the
semiannual sei~rice payments in lieu of taxes distributed io the City ;with respect to rile
Improvements on the Property by or on b-~half of (he County Tr~aasure: a.s provided in Section
5709.'-'.2 of rile Ohio Revised Code, and h-~reby provides tila[ 11 of the moneys deposited in (h~
Fun + shall b:: used solely for ih~ follo~:'ing purposes:
(1) TO paV ii?~ COSt Oi COi?Sir~'Ci!i1g :i C lil[raS[rL'Ci'!i_ : l1?1p:~J`•'°illeiliS;
(ll) 1 0 pay i[]c !n(~"::~[ Oi] i)i InC!(k!! Oi OOf1CIS '?0(::S I`:~iiCd b}' ih~ C1(y !n OCCCC
iU ilnanC~ (h~ in.raSt000iuC:: 1:~~:Ove(??c:]iS Ui][11 SuCil n0i:'S G bonds F:~:: p2.ld In Illll; 2[?Cl
(1!1) 10 i?la~•::, 7.'~ ..~..:5 i0 l~LDI!.. Ci ~ SCi:On~ ;~iS[.'ICi 7:'0"iri~d ;(i S~~i10:1 I
~t i:1!S ~idin.
_ ~ .
The Fund small remain in existence so long as such service p~}~ments are collected and
used for the aforesaid purposes, after which said Fund si`:all be dissolved in accordance with said
Section X709.^3.
Section The Amendment to the ~~lunicipal Income Tax Re~•enue Sharing agreement
dated February 27, 199, between the City and Dublin City School District, a copy of which
Amendment is on file with the Clerk of Council, under which the School District agrees it will
not receive municipal income tax payments under Section X709.52 of the Revised Code with
respect to the exemption under this Ordinance, is hereby approved, and the Ciry ~~lanager and
Director of Finance are hereby authorized and directed to execute that Amendment on behalf of
the City in substantially the form on file with the Clerk of Council, together with such revisions
or additions thereto as are approved by the Cit}~ iYlanager and Director of Finance.
Section 6. Pursuant to Section ~709.~0 of the Ohio Revised Code, the Clerk of Council
is hereby directed to deliver a copy of this Ordinance to th ~ Director of the Department of
Development of the State of Ohio within fifteen days alter its passage. On or before March 31
of each year that the exemption set foi•~h in Section 1 hereof remains in effect, the Cler of
Council or other authorized officer of this City si`tall prepare and suomit to the Director of the
Depanment of Development of the State of Ohio the stan:s repo~~ required under Section
~709.40(D) of the Ohio Revised Code.
Section 7. This Council iLnds and determines that al! formal actions oI this Council
concerning and relating to the passage of this Ordinance were taken LZ 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 wish the law.
Section 5. Ties Ordinance is Hereby declared to be an emergency measure necessary for
the immediate preservation of 11`te pub!!c peace, health, safety and ~velf~re of this Ciry and for
the funkier reason that it is irn~-nediately recessa to provide :^o: the funding for the
Infrastructure Improvements so that the Infrastructure Impro~•ements ;nay be constructed as
quicVy as possible, thereby perrnii'~ing development of rile Prooe,~y w~:ich will provide needed
jobs and employment oppo<<unities; wh~refore, ii"!is Ordinance shall be in full ford and effect
immediately after its passage.
Signed:
Presiding Oificei
. „~~t:
• Cl~r'.•; of Council
Passed: . ~ c,t 1996
o-~.'.
Effective: it~I-fin ~ , 1990
r~
I a.._
EXHIBIT A
LEGAL DESC :IPTIO\r OF PROPERTY
June 25, Iv95
R~viscd Oct. 5, 1'995
w~* Revised Fcb. 1, 1995
D;;SC1tI? T IUN OF l 1 1.72 ,aCR S
NORT: i OF RJ~NGS RO.a.D
' ~~~ST OF INTL•RSTATE ROCITL• 270
CITY OF DUBLIN, OHIO
SituaL-d in the State of Ohio, Cow-try of FranS;lin, Ciry of Dublin, bcinr all that
_ land dcserib~d in a decd to ~R Partners, of record in Ofitcial Record Volume 3 ] 014, n~gc
C03, aJl ~'rac Jared as described in 3 do_a to rrr_nl' Thomas ar!d Ruch Thomas, of
record in Dctd Book 3137, ?ape 521, all that land as described in a Cerudicatc of
Tra_nsfet to Fran;: F. Thomas, o` tccord in Ot7icial Recurd Volume 1 9S6S, P2~c i10S, tJ!
ref rcnees being to the recorc+s of the Rccrder's Oi7tcc, Frar:lin Coun
more p~r-ticularl}• described =s follow;: n'• O'ruo, and bong
);cc;rZino zt the sou~hc: ;t:rly corner of t!re T'nomes prope: ty at the intersection
otthe westerly liuiitcd access right-of-way Jinc o; !ne`;;rats :~out~ ?70 with Lhc ce,-;tcrlinc
of (old) R.;ngs Road;
Thence South 79' 49' 03" Wcsr, along said ccnlerlinc, a distance of ?3.17 fztt
to an angle point;
Thence South 70' 1 03" Wcs;, continung along s`.id ccntcrlinc, a disance of
1S6o.29 feet !o a point of c+_;.-ti3;~_•~e•
Thence continuing ~ton~ szid :`nt•arli^.c with dtc arc of a c~~--vc to !hc ;-i~htr;a~ing
a radius of =,03.~ ! Ic'r a ~en~al =r:~lc o; 12' 06' ~9" L5c chord o. which bears South
l~ 13" West, n chord e:stanec of 85.09 Ice( to t;:c point of tangency a! the
south westc:ly corm: of s: id ti-~ ?v-~ars pro
r a- ~y:
~ T'nc, cc '~1
o^.i o' 31' SS" Wcs;, `'on, ~hc wcsrcr!y 1i,^.c of said R.R ?~.-r-,c:s
pfOpcry. _ dista.:cc of 10?6.9s" f-ct to an ~n,!e point;
Th,ncc Nosh 6' X16' 33" LYest conL:uin~ along said we
' ~ o stcrly lint, z dist_>.,~cc of
512.72 feet to zn arolc point:
Thcnec Nosh 6" 56' 3a" Wes:, eonti_~uin~ along said west"-ly line, a distance of
1589.73 icct to the T:ar~wes;c:ly co;nu o: ;a:d ~.R pzstl,c;s prope;-tY;
T'r.cnec Souhl: %9' 1 !S" Fit. along Lhe no;~l:_rly line of said 'ItiR p~-~ers
propery^a distance 6tSS9.3S ice; to t~:c no;~'tcastcrly corner of sa,-::c, Lhc northwcstc:ly
corner o; said Thomas p:ope:;;~;
Thence SouLS S9- 07' SO" =ast, _lonp ~':c nonhcrly line of said Thomas property,
a disrzncc of !020.75 feet to t:,a r.o~h_asterl;' co%~cr o~sa~r:e ::nd in the wuterly li^:ited
access right-of--way line of In:ctsts!c Rom;c X70•
Thence ~:.lon~ said rig`:r-oC-way line the follo~ti~ng four co:_:scs:
1 . V/itl! tt:c ate of a r.on-L-n;art cu,-vc to the 1cP,, havin= a radius of 7623.36
_ feet, a central ~::gfc of 2' ~ ! the chord of wtlich bears Sough 1 - S4'
56" Lvcst, a chor^ istz^.cc o1 373.32 Fccl to an an~!z `oust;
sourJ: I S' 08' S~" _ast, a dist_~cc of 102.3
9 ice; to z.~ en~,le po~nr~
3. With the uc o1 a non-t:~tgcnt c;_rve to the let3, having a radius of 7595.36
feet, central s.:g(e of f2' 3~• ti5•• Lhc chord of ~.nich btu, South 6. 30'
1=,+" Last z chord d:s'=r:cc of ISo0.07 feet to tnc po~;,t or" tan~cnc~•~
4. Sout}: 1 2- 6' 3 ~ ' dis.- 6 ~ ~ ~ .
of ? y. l icet to L:c nlaec of bc~~
n
Y..r end con;ai~in~ ! i !.7~ s_." o' i;:,~.
5c .^;nOs Herein based o,-, ~^ose o:` subdi•.~is~on ~ -
i uric Crossrn~ TJo~;:",
I iLS dCSCf;D[:..;1 w?~
into:-nation cc,rr. . _c_... : ~,,,c, _~?=cc! u~ _ Ci iii `n~;nce:in:, lr,c., b: ,,cc+ on
- o. COLS^J ,:c<Ord~rS .0...~_.
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Exhibit
Information on the Existing and Proposed ylodified Thomas/f<ohler Tax Increment Financing
Agreement
Explanation of Ternls
"Straight TIF" -payments in lieu of taxes, service payments, received by the City are based on 100%
of the incremental increase in real property value as a result of the private improvements (i.e., office
building)
`'iron-school TIF" -payments in lieu of taxes, service payments, received by the City are based oil
' 100% of the incremental increase in real property value as a result of the private improvements less
the distribution to the Dublin City School District in an amount equal to the amount they would have
received in real estate taxes had the TIF not been established.
General Information
The Thomas/ICohler TIF established by Ordinance \io. 14-96 is currently a "straight TIF" ~vit(~ a cap
often years or 53 million in service payments. This was the first TIF executed by the City after
Senate Bill 19 took effect on July 1, 1994. SB 19 placed restriction on the use of TIFs acid
Community Reinvestment Areas (CRAB). As a result, the City executed a Revenue Sharing
Agreement with the Dublin City School District allowing the City to establish a "straight TIF"
without having to share the withholding income tax revenues generated within the TIF district.
Based on service payments received to date and estimated future services payments from 0?~e
Parkwood and Two Parkwood, the S3 million cap on service payments will be reached by the end
of 2002 or mid-2003, within ~ to years of receiving our first service payments.
The modified TIF, a "non-school TIF" ~voiild generate an estimated 5420,000 a year in service
payments to the City. This estimate is based on the existing One Parkwood building and the
construction of Two Parkwood and Three Parkwood. Duke-Weeks is also projecting the
construction of three additional buildings over the next four years. These additional buildings arc
' estimated to generate additional service payments in the amount of S240,000 per year. This would
result in the "non-school TIF," at full development, being in effect for a period of ~ to 9 years
depending upon the interest cost to finance the projects.
rr..