56-02 Ordinance RECORD OF ORDINANCES
D vton Legal Blank Co Form No. 30043
Ordinance No.......5.6.-02 Passed
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 OWNER THEREOF TO MAKE
SERVICE PAYMENTS IN LIEU OF TAXES, ESTABLISHING A
MUNICIPAL PUBLIC IMPROVEMENT TAX INCREMENT
EQUIVALENT FUND FOR THE DEPOSIT OF SUCH SERVICE
PAYMENTS, AND AUTHORIZING THE EXECUTION OF A
TAX INCREMENT FINANCING AGREEMENT.
WHEREAS, Hospital Properties Inc. (the "Owner") now owns certain parcels of real
property (a depiction of which is attached hereto as Exhibit A and referred to herein as the
"TIF Area", with the parcels comprising the real property within the TIF Area referred to
herein as the "Parcels" and each individually as a "Parcel") in the City; and
WHEREAS, the Owner, or its successors or assigns, has or will develop various
commercial projects in the TIF Area (collectively, the "Project") and this Council expects
to make the public infrastructure improvements described on Exhibit B hereto, that once
made will directly benefit the TIF Area; and
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,
provide for the distribution of the applicable portion of those service payments to the
overlapping Dublin City School District and establish a municipal public improvement
tax increment equivalent fund into which such service payments shall be deposited; 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
TIF Area pursuant to Section 5709.42 of the Ohio Revised Code; and
WHEREAS, this Council has determined to provide for the execution and delivery of a
Tax Increment Financing Agreement to provide for the development of the TIF Area; and
WHEREAS, this Council finds and determines that notice of this proposed Ordinance
has been delivered to all affected school districts in accordance with Sections 5709.40 and
5709.83 of the Ohio Revised Code and hereby ratifies the giving of that notice;
NOW, THEREFORE, BE IT ORDAINED by the Council of the City of Dublin,
Delaware, Franklin and Union Counties, Ohio, ~ of the elected members concurring
that:
Section 1. Tax Exemption. 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 assessed value of each Parcel subsequent to the effective date of this
Ordinance (which increase in assessed value is hereinafter referred to as the
"Improvement" as defined in Section 5709.40) is hereby declared to be a public purpose,
and shall be exempt from taxation for a period of thirty (30) consecutive calendar years
commencing with the first calendar year subsequent to the passage of this Ordinance in
respect of which an application for tax exemption is filed for that Parcel.
Section 2. Payment of Service Payments. As provided in Ohio Revised Code
Section 5709.42, the owner of each Parcel is hereby required to, and shall make, service
RECORD OF ORDINANCES
Dayton Legal Blank Co. Form No. 30043
56-02 Page 2
Ordinance No Passed
payments in lieu of taxes with respect to the Improvements allocable thereto to the
Franklin County Treasurer (the "County Treasurer") on or before the fmal dates for
payment of real property taxes. Each service payment in lieu of taxes shall be charged and
collected in the same manner and in the same amount as the real property taxes that would
have been charged and payable against that Parcel if it were not exempt from taxation
pursuant to Section 1. Any late payments shall be subject to penalty and bear interest at
the then current rate established under Ohio Revised Code Sections 323.121(B)(1) and
5703.47, as the same may be amended from time to time, or any successor provisions
thereto as the same may be amended from time to time (the payment of penalties and
interest are collectively referred to herein with the service payments in lieu of taxes as the
"Service Payments"). The Service Payments, and any other payments in respect of each
Parcel which are received by the Franklin County Treasurer in connection with the
reduction required by Ohio Revised Section 319.302, as the same may be amended from
time to time, or any successor provisions thereto as the same may be amended from time
to time (the "Property Tax Rollback Payments"), shall be allocated and deposited for
credit to the Fund (as defined below) in accordance with Section 3 of this Ordinance.
Section 3. Distribution of Payments. Pursuant to Ohio Revised Code Sections
5709.40 and 5709.42, the County Treasurer shall distribute the Service Payments and the
Property Tax Rollback Payments as follows:
• to the Dublin City School District, an amount equal to the amounts the
Dublin City School District would otherwise receive as real property tax payments
(including the applicable portion of any Property Tax Rollback Payments) derived
from the Improvement absent the passage of this Ordinance, and
• to the City, all remaining amounts for further deposit into the Fund.
All distributions required under this Section 3 shall be made at the same time and in the
same manner as real property tax distributions.
Section 4. Creation of TIF Fund. This Council hereby establishes pursuant to and
in accordance with the provisions of Ohio Revised Code Section 5709.43, the Perimeter
Loop Project Municipal Public Improvement Tax Increment Equivalent Fund (the,
"Fund"). The Fund shall be maintained in the custody of the City and shall receive all
distributions required to be made to the City pursuant to Section 3. Those Service
Payments and Property Tax Rollback Payments distributed with respect to the
Improvements on the Parcels, so deposited and distributed pursuant to law as provided in
Ohio Revised Code Section 5709.42, shall be used solely for the purposes authorized in
Ohio Revised Code Sections 5709.40, 5709.42 and 5709.43. The Fund shall remain in
existence so long as such Service Payments and Property Tax Rollback Payments are
collected and used for the aforesaid purposes, after which time said Fund shall be
dissolved and any surplus funds remaining therein transferred to the City's General Fund,
all in accordance with Ohio Revised Code Section 5709.43.
Section 5. Public Infrastructure Improvements. 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 directly benefit, or that once
made will directly benefit, the TIF Area (the "Infrastructure Improvements").
Section 6. TIF Agreement. The Tax Increment Financing Agreement relating to
the TIF Area, 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 Interim City Manager. The
Interim City Manager, for and in the name of this City, is hereby authorized to execute
that Tax Increment Financing Agreement, provided further that the approval of changes
RECORD OF ORDINANCES
Dayton Legal Blank Co. Form No. 30043
56-02 Page 3
Ordinance No Passed
thereto by that official, and their character as not being substantially adverse to the City,
shall be evidenced conclusively by her execution thereof. This Council further hereby
authorizes and directs the City Manager (Interim or otherwise), 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 of said Service
Payments from the owners of Parcels.
Section 7. Further Authorizations. This Council further hereby authorizes and
directs the City Manager (Interim or otherwise), the Clerk of Council, the Director of
Law, the Director of Finance, or other appropriate officers of the City to prepare and sign
all agreements and instruments and to take any other actions as may be appropriate to
implement this Ordinance.
Section 8. Notification of Passage. Pursuant to Ohio Revised Code Section
5709.40, 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(E) of the Ohio Revised Code.
Section 9. Open Meetings. 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 10. Effective Date. This Ordinance shall take effect and be in force in
accordance with Section 4.04(a) of the Dublin City Charter.
Signed:
residing Officer
Attest:
Clerk of Council
- Passed: ~ , 2002
Effective: f ~ Z 2 , 2002
I hereby certify that copies of this
Ordinance/Resolution were posted in the
City of Dublin in accordance with Section
731.25 of the Ohio Revised Code.
• rk of Council, Dublin, Ohio
EXHIBIT A
DESCRIPTION OF TIF AREA
The following real estate situated in the City of Dublin, County of Franklin and State of
Ohio, as bounded and described as follows:
Tax Parcels No. 273-010471 and No. 273-010474
JOSEPH W. TESTA
FRANKLIN COUNTY AUDITOR ,
:MAP AREA :MAY DATE APR 3, ?002
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I IVI I N
EXHIBIT B
DESCRIPTION OF INFRASTRUCTURE IMPROVEMENTS
The Infrastructure Improvements include the construction of:
• Perimeter Loop Road westerly from its existing western terminus to its existing
southern terminus,
• improvements to the existing Avery Road -Perimeter Loop Drive intersection, and
• improvements to the existing Avery Road -Perimeter Drive intersection,
by constructing and installing curbs and gutters, public utilities which include water
mains, sanitary sewer, and storm sewer, street lighting, sidewalks, bikeways, and landscaping,
traffic signalization, and including design and other related costs, any right-of--way acquisition,
erosion and sediment control measures, grading and other related work, survey work, soil
engineering and construction staking, and in each case, all other costs and improvements
necessary and appurtenant thereto.
B-1
Office of the City Manager
5200 Emerald Parkway -Dublin, Ohio 43017-1006
Phone: 614-410-4400 -Fax: 614-410-4490 M e m o
CITY OF DUBLIN
To: Dublin City Council
From: Marsha I. Grigsby, Interim City Manager/Finance Director \`c~d3-
Date: Apri13, 2002
Re: Ordinance No. 56-02
G-~ i
Initiated by: Michael Stevens, Director of Economic Development ~ (/r
Ordinance No. 56-02 authorizes the establishment of a Tax Increment Finance District (TIF)
District for the 3.3 + acres parcel on Perimeter Loop Road that is being developed by Hospital
Properties Inc. for Ohio Health. The TIF ordinance also defines the private and public
improvements to be constructed and provides for service payments in lieu of property taxes to be
collected and used as the funding source to pay for the public improvements.
The ordinance will create a "non-school" TIF; meaning that the schools will continue to receive
the property tax value that would be due if a TIF district was not in place.
As you are aware, the office development on this site is underway. However, the County
Auditor's appraisal of the property does not recognize any improvements to the site. The City
has the opportunity to TIF the property and receive service payments based on the increase in the
incremental value. The increase in real property value as a result of private improvements is
estimated to be $4.9 million. Service payments in the amount of approximately $49,000.00 will
be collected annually, based on the estimate and the current tax rates.
Currently no timetable is in place for the public improvements. The City will accrue the service
payments and apply them to the cost of public improvements when constructed.
Formal notice, as required by Section 5709.40 of the Ohio Revised Code, has been given to the
Dublin City School District and the Central Ohio Joint Vocational School District.
TAX INCREMENT FINANCING AGREEMENT
This TAX INCREMENT FINANCING AGREEMENT (the "Agreement"), made and entered into as
of this day of , 2002, by and between the CITY OF DUBLIN, Oxlo (the "City"), a
municipal corporation organized and existing under the constitution and the laws of the State of
Ohio, and Hospital Properties, Inc. (the "Owner"), a Ohio not-for-profit corporation with offices
located in Columbus, Ohio.
WITNESSETH:
WHEREAS, the Owner has acquired by deed certain real property located in the City (which
property is depicted in Exhibit A attached hereto and referred to herein as the "Property"); and
WHEREAS, the Owner has made or will make the private improvements thereto described in
Exhibit B attached hereto (the "Project"); and
WHEREAS, the Owner desires that the public infrastructure improvements described in
Exhibit C attached hereto (the "Public Improvements") be constructed and installed by the City, and
agrees that the Public Improvements will benefit the Property; and
WHEREAS, prior to the passage of the Ordinance (as defined below), the City provided
notice of the proposed passage of the Ordinance to any affected school districts as required by
Ohio Revised Code Sections 5709.40 and 5709.83; and
WHEREAS, the City has determined that it is necessary and appropriate and in the best
interests of the City to provide for the Owner, and its successors and assigns, to make service
payments in lieu of taxes with respect to the Property to pay costs of the construction by the City
of the Public Improvements or for distribution to the Dublin City School District, all pursuant to
and in accordance with Ohio Revised Code Sections 5709.40, 5709.42 and 5709.43 (collectively,
the "Act"), and the City, by its Ordinance No. 56-02 passed April 8, 2002 (the "TIF Ordinance"),
has declared that 100% of the increase in assessed value of the Property after the effective date
of the TIF Ordinance (including but not limited to any portion of that increase in assessed value
resulting from Owner's construction of the Project and other improvements) is a public purpose
and declared to be exempt from taxation for a period of thirty (30) consecutive calendar years
commencing with the first calendar year subsequent to the passage of the TIF Ordinance in respect
of which an application for tax exemption is filed for the Property, all in accordance with the Act;
and
WHEREAS, in order to provide for the collection of such payments in lieu of taxes and to
enable the Project to be carried out, the parties desire to enter into this Agreement on the terms as
hereinafter provided;
Now, THEREFORE, in consideration of the premises and covenants contained herein, and to
induce the Owner to proceed with the Project and the City to proceed with the construction of the
Public Improvements, the parties hereto agree as follows:
Section 1. Covenant to Make Payments in Lieu of Taxes. The Owner, for itself and any
successors in interest to the Property, or any part thereof or interest therein, hereby agrees that the
then current owner shall make for the Property semiannual service payments in lieu of taxes with
respect to the "Improvement" (including the Project), as that term is used and defined in the Act,
pursuant to and in accordance with the requirements of the Act, and pursuant to the Ordinance and
any subsequent amendments or supplements thereto. Any late payments shall be subject to penalty
and bear interest at the then current rate established under Ohio Revised Code Sections
323.121(B)(1) and 5703.47, as the same may be amended from time to time, or any successor
provisions thereto as the same may be amended from time to time (the payment of penalties and
interest are collectively referred to herein with the payments in lieu of taxes as the "Service
Payments"). Such Service Payments shall be made semiannually to the County Treasurer of
Franklin County, Ohio (or to the Treasurer's designated agent for collection of the Service
Payments) on or before the date on which real property taxes would otherwise be due and payable
for the Improvement. Each semiannual payment shall be in the same amount as the real property
taxes that would have been charged and payable against the Improvement (after credit for any other
available payments received by the City under Ohio Revised Code Section 319.302 as the same
may be amended from time to time, or any successor provisions thereto as the same may be
amended from time to time, herein the "Property Tax Rollback Payments") had an exemption from
taxation not been granted, and otherwise shall be in accordance with the requirements of the Act.
The Owner shall not, under any circumstances, be required for any tax year to pay both real
property taxes with respect to the Improvement and payments in lieu of taxes with respect to the
Improvement, whether pursuant to Ohio Revised Code Section 5709.42, the Ordinance, this
Agreement or any other applicable law.
It is intended and agreed, and it shall be so provided by the Owner in a declaration filed and
of record in the office of the County Recorder of Franklin County, Ohio (the "Declaration"), and in
any future deed from the Owner conveying the Property or any part thereof, that the covenants
provided in this Section shall be covenants running with the land and that they shall, in any event
and without regard to technical classification or designation, legal or otherwise, be binding to the
fullest extent permitted by law and equity for the benefit and in favor of and enforceable by the City
whether or not this Agreement remains in effect or whether or not such provision is included by the
Owner in any succeeding deed to the Owner's successors and assigns. It is further intended and
agreed that these agreements and covenants shall remain in effect for the full period of exemption
permitted in accordance with the requirements of the Act and the City's Ordinance enacted pursuant
thereto. The Owner and its successors shall only be responsible for making Service Payments due
and payable during their respective periods of ownership.
Such covenants running with the land in the Declaration shall have priority over any
mortgage or other lien on the Property, and the Owner shall cause any and all holders of mortgages
or other liens existing on the Property (if any) as of the time of recording of the Declaration, to
subordinate such lien to the covenants running with the land provided in the Declaration.
-2-
Section 2. Exemption Application. The Owner further agrees for itself and its successors
and assigns to assist and cooperate with the City in the preparation and filing by the City of all
necessary applications and supporting documents to obtain the exemption from real property
taxation for the Improvement authorized by the Act and the City, and to enable the City to collect
Service Payments thereunder, and the Owner shall cooperate with the City in connection with the
preparation and filing of the initial and any frther applications required to accomplish that purpose.
The initial application shall be made by the City no later than December 31, 2002, unless the City
determines a later date is permissible.
Section 3. Tax Increment Equivalent Fund. The City and the Owner acknowledge the
creation, pursuant to the TIF Ordinance, of the Perimeter Loop Municipal Public Improvement
Tax Increment Equivalent Fund (the "Fund") to be maintained in the custody of the City. The
City and the Owner agree that the Fund shall receive all Service Payments and Property Tax
Rollback Payments payable to the City in respect of the Property as described in Section 1, with
all such Service Payments and Property Tax Rollback Payments being used to finance or pay the
costs of the Public Improvements. Any incidental surplus remaining in the Fund shall be
disposed of as provided in Section 5709.43(D) of the Revised Code.
Section 4. Release. Upon satisfaction of the Owner's obligations under this Agreement and
termination of the Owner's obligations to make the Service Payments, the City shall, upon the
request of Owner, execute an instrument in recordable form evidencing such termination and
releasing the covenants running with the land set forth in the Declaration.
Section 5. Estoppel Certificate. Upon request of the Owner, the City shall execute and
deliver to the Owner or any proposed purchaser, mortgagee or lessee of the Property, a certificate
stating: (a) that the Agreement is in full force and effect, if the same is true; (b) that the Owner is
not in default under any of the terms, covenants or conditions of the Agreement, or, if the Owner is
in default, specifying same; and (c) such other matters as the Owner reasonably requests.
Section 6. Representations of Parties. The Owner hereby represents that it is the owner in
fee simple of the Property and has full power and authority to enter into this Agreement and carry
out its terms. The City hereby represents that the Ordinance was passed by the City Council on
April 8, 2002.
Section 7. Successors. This Agreement shall be binding upon the Owner, and its respective
beneficiaries, successors and assigns, all as and to the extent provided for herein.
Section 8. Information Reporting. The Owner shall cooperate in all reasonable ways with
and provide necessary and reasonable information to the designated Tax Incentive Review Council
(the "TIRO") to enable the TIRC to review and determine annually during the term of this
Agreement, the compliance of the Owner with the terms of this Agreement. Any information
supplied by the Owner shall be provided solely for the purpose of monitoring its compliance with
this Agreement.
-3-
Section 9. Agreement Binding on Parties; No Personal Liability; City Consents. All
covenants, obligations and agreements of the City and the Owner contained in this Agreement shall
be effective to the extent authorized and permitted by applicable law. No such covenant, obligation
or agreement shall be deemed to be a covenant, obligation or agreement of any present or future
member, officer, agent or employee of the City in other than their official capacity or of any
individual person who is an officer, director or shareholder of the Owner other than in their capacity
as an officer, director or shareholder, and neither the members of the City Council nor any City
official executing this Agreement, or any individual person executing this agreement on behalf of
the Owner, shall be liable personally by reason of the covenants, obligations or agreements of the
City or the Owner contained in this Agreement.
Any consent of the City to be given under this Agreement may be given by the City
Manager, and shall be given in writing.
Section 10. Amendments. This Agreement may only be amended by written instrument
executed by all of the parties to this Agreement.
Section 11. Notices. Except as otherwise specifically set forth in this Agreement, all
notices, demands, requests, consents or approvals given, required or permitted to be given hereunder
shall be in writing and shall be deemed sufficiently given if actually received or ifhand-delivered or
sent by recognized, overnight delivery service or by certified mail, postage prepaid and return
receipt requested, addressed to the other party at the address set forth in this Agreement or any
addendum to or counterpart of this Agreement, or to such other address as the recipient shall have
previously notified the sender of in writing, and shall be deemed received upon actual receipt,
unless sent by certified mail, in which event such notice shall be deemed to have been received
when the return receipt is signed or refused. The parties, by notice given hereunder, may designate
any further or different addresses to which subsequent notices, certificates, requests or other
communications shall be sent. The present addresses of the parties follow:
(a) To Owner at:
with a copy to:
-4-
IN WITNESS WHEREOF, the City and the Owner have caused this Agreement to be
executed in their respective names by their duly authorized officers, as of the date hereinabove
written.
CITY OF DUBLIN, OHIO
By:
Printed: Marsha I. Grigsby
Title: Interim City Manager
Approved as to Form:
By:
Printed: Stephen J. Smith
Title: Director of Law
HOSPITAL PROPERTIES, INC.
By:
Printed:
Title:
-6-
FISCAL OFFICER'S CERTIFICATE
The undersigned, Director of Finance of the City under the foregoing Agreement, certifies
hereby that the moneys required to meet the obligations of the City during the year 2002 under the
foregoing Agreement have been appropriated lawfully for that purpose, and is in the Treasury of the
City or in the process of collection to the credit of an appropriate fund, free from any previous
encumbrances. This Certificate is given in compliance with Sections 5705.41 and 5705.44, Ohio
Revised Code.
Dated: , 2002
Director of Finance
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EXHIBIT A
JOSEPH W. TESTA
FRANKLIN COUNTY AUDITOR
MAP AREA :MAY DATE APR 3, 2002
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I IVI I N
EXHIBIT B
PROJECT
The Project is expected to include approximately 33,300 square feet of medical office
space, associated parking and landscaping improvements and other related improvements.
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