129-03 Ordinance RECORD OF ORDINANCES
Dayton Legal Blank, Inc. Form No. 30043
Ordinance No. 129-03 Passed , 20
AN ORDINANCE AMENDING ORDINANCE NO. 58-94
PASSED JUNE 20, 1994 TO SUPPLEMENT THE PUBLIC
i
DE TO BENEFIT THE
IMPROVEMENTS TO BE MA
PARCELS IDENTIFIED IN THAT ORDINANCE AND
PROVIDE FOR PAYMENT OF A PORTION OF THE
SERVICE PAYMENTS RECEIVED 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
- clarin
nce No. 58 94 the TIF Ordinance thereb de
4 assed Ordma
199 g
ouncil on June 20 ) Y
C (
p
ribed and de icted
located in the Ci as desc
1 f certain real ro e
im rovements to arce s o p
tY (
p p p rtY
p
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, this Council desires to specify additional public infrastructure improvements
benefiting those parcels and provide for payments to the Dublin City School District equal to
r al roe tax a ents~ and
1 therwise receive as e
chool District wou d o ,
nts that S Ym
the amou P p rh' p
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 "Improvement" as defined 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 Section 5709.40 and 5709.42 of the Revised Code, all in accordance with
the requirements of said Sections 5709.40 and 5709.42.
Commencing with those payments in lieu of taxes received in respect of Tax Year
2003 and those succeeding tax years for the remainder of the term set forth in the
preceding paragraph and 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 p ayments i n lieu of taxes provided for in Section 3 of this
Ordinance, at the same 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. 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. The public infrastructure improvements set forth in Exhibit B to the TIF Ordinance
and to be made or caused to be made by the City shall also include improvements to Perimeter
Drive, from Emerald Parkway to Avery-Muirfield Drive, including the intersections at
Commerce Parkway and Avery-Muirfield Drive, and the Avery-Muirfield Drive/Perimeter
RECORD OF ORDINANCES
Dayton Legal Blank, Inc. Form No. 30043
Ordinance No. 129-03 Passed Page
Loo and Ave -Muirfield Drive/Post Road intersections, all of which benefit, or that once
p rY
made will benefit, the Property (as defined in the TIF Ordinance).
Section 4. Except as provided herein, all other provisions of the TIF Ordinance shall remain in
' nce are directed to make such
ana er and Director of Fina
full force and effect and the City M g
arrangements as are necessary and proper for collection of the Service Payments. The City
ar d and to
cause to be re e
'zed to re are or
Manager and the Director of Finance are authors p p p p
submit to this Council for approval any necessary amendments or supplements to that certain
Tax Increment Financing Agreement between the City and Perimeter Limited Partnership,
which amendments or supplements may be in the form of a separate agreement, and providing
rmitted and
for the payment of further costs of the Pubhc Infrastructure Improvement pe
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 ofthis Ordinance.
Section 5. 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. The Clerk of Council
is also directed to deliver a copy of this Ordinance to the County Auditor of Franklin
County, Ohio within 15 days after its passage.
Section 6. This Council finds and determines that all formal actions ofthis Council concerning
and relating to the passage of this Ordinance were taken in an open meeting of this Council and
that all deliberations ofthis 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 and welfare of the City, and for the further
reason that this Ordinance is required to be immediately effective in order that the tax
increment financing authorized in the TIF Ordinance may continue uninterrupted and provision
maybe made for the additional Infrastructure Improvements to be constructed as quickly as
possible; wherefore, this Ordinance shall be in full force and effect immediately upon its
passage.
Signed:
Presi g Officer
Attest:
~
Clerk of Council
Passed: . , 2003
- Effective: ~i ' ~ , 2003
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.
De Clerk of Council, Dublin, Ohio
I
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 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, 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 fords 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 defined 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 rroperty the Inrrastructure Improvementsj.
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
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
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:
Presi ing Officer
Attest: ~
Clerk of Council
I hereby terfify brut co;~ies of this Ordinnnce~ere posted in the
Passed: D 1994
Gty of Dublin in accordance w;th Section 731.25 of the Ohio Revised Co e.
Effective: D 1994 ~ ~,-l.'a-.,~~-<.
Clerk of Council, Dublin, Ohio
-2-
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 Flat Book
72, Pages 47 & 48, all references being to those of 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 = 23° 41' 36") a chord bearing and distance of
North 75° 36' S0" West, 254.56 feet to a point;
thence leaving said centerline South 26° 13' S8" 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
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-of-way line South 27° 41' 13" West, along a
westerly line of said 0.707, acre tract, a distance of 83.61 feet to a point of curvature io
the left;
thence southwesterly along the arc of said curve and a westerly line'bf said 0.707
acre tract (Radius = 233.00 feet, Delta = 31' S4' 35") a chord bearing and distance of
South 11 ° 43' S5" 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 67° 34' 21" West, 112.47 feet to the point
of tengzncy;
thence South 49° 22' 04" West, a distance of 82.79 feet to a point in the existing
northeasterly right-of-vray line of Perimeter Loop Road;
thence along the northeasterly right-of-way line of Perimeter Loop Rcad, the following
courses and distances:
' Continued..........
I
33,398 ACRE TRACT
- Page 2 -
North 40° 37' S6" West, a distance of 201.00 feet;
North 27° 45' 26" West, along the arc of a curve to the right (Radius = 370.00 feet,
Delta = 25° 45' 00") a chord distance of 164.89 feet to the point of tangency;
North 14° 52' S6" West, a distance of 297.48 feet to an angle point in said
right-of-way Ifne;
North 10° 49' S4" West, a distance of 111.10 feet to a point of curvature to the left;
and...
North 35° 23' 29" West, along the arc of said curve to the left (Radius = 400.00 feet,
Delta = 29° 07' 00"), a chord distance of 201.09 feet to a point;
thence leaving the norfherly right-of-way line of Perimeter Loop Road, across Reserve
"A" the following courses and distances:
North 42° 11' S7" East, a distance of 49.65 feet to a point of curvature to the left;
Norfh 18' 47' 09" East, along the arc of said curve (Radius = 110.00 feet, Delta = 46°
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
righf-of-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 56° 18' 39" East, along the arc of said curve (Radius = 570.00 feet, Delta = 76`
37' S6") a chord distance of 706.80 feet to the point of tangency;
South 17' S9' 42" East, a distance of 101.34 feet to a point of curvature to the left;
and...
South 40° 52' S2" East, along the arc of-said curve (Radius = 670.00 feet, Delta = 45°
a ~i~~anca of 521.12 to the true place of beginning and containing 33.398 acres,
more,or less.
C onti rx~ed..........
33.398 ACRE TRACT
- Page 3 -
The above description was prepared for rezoning purposes only and is not intended
for transfer.
EVANS, MECHWART, HA LET N & TILTON
r
Lawr e E. Ball
Professional Surveyor No. 6878 .
LEB/mf
Exhibit B: Description of Public Infrastructure Improvements
PERIl~IETER CENTER
Public Improvements
The public improvements consist of extending all or a part of Coffman 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 Coffman Road
extension. The public roadway improvements include three-lane pavement for Perimeter Drive
and four-lane pavement with landscaped median for Coffman Road, curbs and gutters, street
lighting, storm sewers, sidewalk and/or bikeways, a bikeway underpass at the intersection of
Coffman 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 acZluisition, 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.
RECORD OF RESOLUTIONS
Dayton Legal Blank, Inc., Form No. 30045
Resolution No. 4I-03 (Amended Passed . 20
~ A RESOLUTION ADOPTING THE
~ COFFMAN PARK EXPANSION TASK FORCE REPORT
WHEREAS, Dublin City Council adopted Resolution 17-02 which created the
Coffman Park Expansion Task Force and appointed eight members to serve on the
Task Force; and
WHEREAS, the Coffman Park Expansion Task Force has conducted numerous
meetings to study, review, discuss and consider a wide range of optional park
expansion ideas, traffic issues and long-range plans and visions; and
WHEREAS, the Coffman Park Expansion Task Force has solicited and received
significant public input, reaction, comments and suggestions from neighborhood
civic associations in the Coffman Park vicinity, neighboring property owners, Tara
Hill residents and citizens throughout the Dublin community; and
WHEREAS, the Coffman Park Expansion Task Force has completed its assigned
tasks and has formulated and compiled its recommendations and concept plans into
the Coffman Park Expansion Task Force Report; and
i
WHEREAS, the Coffman Park Expansion Task Force has discussed their concept
~ ~ plans and recommendations with City Council at the October 28, 2003 study session,
I
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Dublin,
State of Ohio, ~ of the elected members concurring, that:
Section 1. The Coffman Park Expansion Task Force Report is hereby accepted
and adopted by City Council as a policy guide in the future development and
expansion of the Coffman Park.
'I
Section 2. City Council hereby acknowledges and appreciates the extraordinary
efforts of the Coffinan Park Expansion Task Force members.
Section 3. Implementation of the infrastructure recommendations of this Plan
shall be done only after necessary traffic calming elements are implemented on Tara
Hill and other adjoining residential areas that maybe affected by the adopted Plan.
Section 4. This Resolution shall take effect and be in force from and after the
earliest date provided by law.
Passed this ~ da of /(/v vCyjtb fir'- , 2003.
I
Mayor -Presiding Officer
ATTEST:
I
L
Clerk of Council
i
Deputy City Manager/Director of Finance
5200 Emerald Parkway • Dublin, OH 43017
CITY OF DUBLIN Phone: 614-410-4400 • Fax: 614-410-4490
Memo
To: Members of Dublin City Council
From: Jane S. Brautigam, City Manager 5- ~
Date: November 12, 2003
Initiated By: Marsha I. Grigsby, Deputy City Manager/Director of Finance'~`n~.
Re: Ordinance No. 129-03, An Ordinance Amending Ordinance 58-94 (Perimeter Center Tax Increment
Financing (TIF) District)
SUMMARY:
Ordinance No. 129-03 provides for amendments to the existing legislation that established the Perimeter Center
TIF district. The Perimeter Center TIF district was established in 1994 to provide a funding mechanism for the
construction of Emerald Parkway from Post Road to Perimeter Drive.
The modifications proposed by Ordinance No. 129-03 provides for the implementation of a "non-school TIF"
after the terms of the "straight TIF" expire and the addition of improvements to Perimeter Drive from Emerald
Parkway to Avery-Muirfield Drive, including the intersection at Avery-Muirfield Drive, and improvements to
Avery-Muirfield Drive/Perimeter Loop and Avery-Muirfield Drive/Post Road intersections to the Description of
the Public Improvements. These modifications will extend the period of time that service payments will be
received and allow the "non-school TIF" service payments to be utilized for costs related to future improvements
to Perimeter Drive and the identified intersections, including acquisition and design costs.
The additional public improvements are not currently identified in the City's five-year Capital Improvements
Program. The improvements were identified in the Coffman Park Task Force Report recently adopted by City
Council. Modifying the existing legislation will allow the City to begin collecting and reserving the service
payments from the "non-school TIF" for the future improvements.
The City will be reimbursed for the costs incurred to construct Emerald Parkway from Post Road to Perimeter
Drive in 2003. Ordinance No. 129-03 will allow the City to continue to receive service payments beyond 2003 on
the non-school district property tax millage and reserve those funds for the future infrastructure improvements
identified. The modification of the TIF district and the reservation of the "non-school TIF" service payments will
not result in an obligation to initiate the construction of the improvements within a certain period of time.
Based on current market values assigned by the Franklin County Auditor and the current effective millage rates,
the modified Perimeter Center TIF will generate an estimated $260,000 in service payments annually.
Preliminary estimates for the identified public improvements are $2.8 million.
The required notice has been sent to the Dublin City School District and the Central Ohio Joint Vocational School
District.
Copies of Ordinance No. 58-94 and Resolution No. 41-03 are attached for reference. A copy of a TIF map is
attached to the information for Ordinance No. 128-03.
RECOMMENDATION:
It is recommended that Ordinance No. 128-03 be adopted as emergency legislation at the December 15, 2003 City
Council meeting.
Office of the City Manager
5200 Emerald Parkway • Dublin, OH 43017
Phone: 614-410-4400 • Fax: 614-410-4490
CITY OF DUBLIN
Memo
To: Members of the Dublin City Council
From: Jane S. Brautigam, City Manager ~ c~.w--s• i3 ~ •
Date: November 3, 2003
Re: Coffman Park Expansion Task Force
Summary:
On October 28, 2003, the Council met in a study session with the Coffinan Park Expansion Task Force to
receive their final report. The attached resolution would adopt the report and plan recommended by the Task
Force.
A major~feature of the Task Force recommendations are a series of intersection and road improvements on
Avery-Muirfield, Post Road, Perimeter Drive and Emerald Parkway. For your information, I am enclosing a
memo that I received from Finance Director Marsha Grigsby suggesting that the City maybe able to fund some
of these improvements through modifications to the Perimeter Center and Ruscilli TIFs. Ordinances making
these modifications will be presented to City Council for first reading on November 17, 2003.
Recommendation:
Approve resolution adopting the Coffman Park Expansion Task Force report and plan.
Depu City Manager/Director of Finance
5200 ~merald Parkway • Dublin, OH 43017
Phone: 614-410-4400 • Fax: 614-410-4490
C[TY OE DUBLIN M e m o
To: Jane S. Brautigam, City Manager
From: Marsha I. Grigsby; Deputy City Manager/Director of Finance
Date: October 20, 2003
Re: Modification of Existing Tax Increment Financing Districts
Several times each year I review and evaluate the status of the City's tax increment financing (TIF) districts. As
part of my recent review, I was thinking about ways that we could utilize our existing TIFs for future
infrastructure improvements. As you are aware, it continues to be a challenge to program needed infrastructure
improvements due to funding limitations.
There are two TIF districts that I think we should consider modifying the authorizing legislation, the Perimeter
Center TIF and the Ruscilli TIF. These TIFs are both "straight" TIFs. The City has been receiving 100% of the
service payments or payments in lieu of taxes (PILOTs) from the incremental increase in the value of the private
improvements constructed since the TIFs were established.
The Perimeter Center TIF was established to fund the construction of Emerald Parkway from Post Road to
Perimeter Drive. The roadway was constructed in 1997 and the City began receiving service payments in 1998.
As of the end of 2003, the City will be reimbursed for the roadway costs.
The Ruscilli TIF was established to fund the construction of Venture Drive and provide access to approximately
77 acres of commercially zoned land. The roadway was constructed in 1997 and 1998 and the City began
receiving service payments in 2000. The City will be reimbursed for the roadway costs in 2004.
I propose that we consider modifying the existing legislation for both TIFs. The modifications would provide for
the implementation of "non-school" TIFs after the terms of the "straight" TIFs expire and to modify the
Descriptions of the Public Improvements to add future Perimeter Drive improvements from Emerald Parkway to
Avery-Muirfield Drive, including the intersection at Avery-Muirfield Drive, and the Avery-Muirfield
Drive/Perimeter Loop intersection. The TIF areas for both impact Perimeter Drive and the referenced
intersections and would benefit from the public improvements. These modifications would also benefit existing
and future commercial development west of Avery-Muirfield Drive.
Based on current market values assigned by the Franklin County Auditor and the current effective millage rates,
the Perimeter Center TIF would generate approximately $260,000 in "non-school" service payments annually and
the Ruscilli TIF would generate approximately $175,000 annually.
If the modifications were approved, we would begin collecting the "non-school" service payments from the
Perimeter Center TIF in 2004 and from the Ruscilli TIF in 2005.
I will begin pursuing these modifications with Squire Sanders & Dempsey if you agree.
c: Frank Ciarochi, Deputy City Manager/Director of Development
Mike Stevens, Director Economic Development