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Resolution 044-19RECORD OF RESOLUTIONS Dayton Legal Blank, Inc., Form No. 30045 Resolution No. 44-19 Passed , 20 A RESOLUTION APPROVING THE NECESSITY OF ACQUIRING, CONSTRUCTING, AND IMPROVING CERTAIN PUBLIC IMPROVEMENTS IN THE CITY OF DUBLIN, OHIO IIN COOPERATION WITH THE COLUMBUS REGIONAL ENERGY SPECIAL IMPROVEMENT DISTRICT (5165 EMERALD PARKWAY, DUBLIN, OHIO PROJECT) WHEREAS, Ohio Revised (ode Section 1710o06(C) provides that a political subdivision which Inas approved a petition for special assessments for public improvements in ars energy special improvement district an(] a plan pursuant to Ohio Revised Code Sections 1Y100012(F) and 1710°06 shall levy the requested special assessments pursuant to Ohio Revised Code Chapter 727; and WHEREAS, the Columbus Regional Energy Special Improvement District (the "District") was created under Ohio Revised Code Chapters 1702 and -.1.710 as an energy special improvement district and established pursuant to Resolution No. 0261)(.-2015 oi: the Council of the City of Columbus, Ohio approved on November 23, 2015 (the "Creation Resolution") - WHEREAS, pursuant to the Creation Resolution, the Columbus Regional Energy Special Improvement District Program Plan (as amended and supplemented from time to time, the "Program Plan") was adopted as a plan for public improvements and public services under Ohio Revised Code Section 17:1-0.02(1=�), which plan allows for additional properties within the City of Columbus, Ohio and within any municipal corporation or township which is adjacent to any other MUnicipal corporation or township in which a portion of the District's territory is located to be added to the territory of the District; and WHEREAS, 970 High Ridge Associates LLC (the "Owner") petitioned to add property owned by it to the District pursuant to Ohio Revised Code Chapter 1710 in pari: in order to finance the costs of a special energy improvement project to be constructed on such property, which special energy improvement project consists of acquiring, constructing, improving and installing energy efficiency improvements on its real proper[ -y, including, without limitation, high - efficiency HVAC systems, building automation controls, l=L-D lighting, and related improvements (the "Project"); and WHEREAS, the City Council ("Council") of the City of Dublin, Ohio (the "City") has, by Resolution No. 4i3 � , on �p adopted August ,�: 2019 approved roved the p g � Petition for Special Assessments for Special Energy lmpro vement Projects and Affidavit (the "Petition"'), together with the Supplement to Plan for 51665 Emerald Parkway, Oublin, Ohio Project (the "Supplemental Plan") in accordance with Ohio Revised Code Section 1710.02; a rid WHEREAS, the Petition, which is on file with the Clerk of Council, has been signed by the Owner, as the owner of one hundred percent (100%) of the real property affected by the Petition (as further described in ['exhibit A to the Petition, the "Property'), and proposes the necessity of acquiring, constructing, and improving the Project: and financing the Project through the cooperation of the District; and WHEREAS, by the Petition, the Owner requests that the Project be paid for by special assessment, assessed upon the Property (the "Special Assessments") in RECORD OF RESOLUTIONS Dayton Legal Blank, Inc., Fonn No. 30045 Resolution No. 44-19 Passed Page 2 of 6 , 20 an amount sufficient to pay the costs of the Project, which is estimated to be $1,92'.t,598.06, including the costs identified in Section 2 of this Resolution, and requests that the Project: be undertaken cooperatively by the City, the District, and such other parties a!� the City may deem necessary or appropriate. NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Dublin, State of Ohio, of the elected members that: Section 1. Each capitalized term not otherwise defined in this Resolution or by reference to another document shall have the meaning assignee to it in the Petition. Section 2_ r his council declares necessary, and a vital and essential public purpose of the City, to improve the G=Iroperty, which has been identified by the County Auditor of Franklin County, Ohio as Parcel Number 273-00-1,68-/-00 in the City, by providing for the acquisition, construction, and improvement of the Project by the owner, as set forth in the Petition and the Supplemental Plan, and providing for the payment of the costs of the Project, including any and all architectural, engineering, legal, insurance, consulting, energy auditing, planning, acquisition, installation, construction, surveying, testing, and inspection costs; the amount of any damages resulting from the Project and the interest on such damages; the reasonable costs incurred in connection with the preparation, levy and collection of the special assessments; the cost of purchasing and otherwise acquiring any n,�al estate or interests in real estate; reasonable expenses of legal costs of labor and material; trustee fees and other financing costs incurred in connection with the issuance, sale, and servicing of securities, nonprofit corporate obligations, or other obligations issued or incurred to provide a loan or to sec=ure an advance of funds to the Owner or otherwise to pay costs of the Project in anticipation of the receipt of the Special Assessments, capitalized interest on, and financing reserve funds for, such securities, nonprofit corporate obligations, or other reasonable obligations so issued or incurred, including any credit enhancement fees, trustee fees, program administration fees, financing servicing fees, and reasonable District administrative fees and expenses; an amount to reflect interest on unpaid Special Assessments which shall be treated as part of the cost of the Project for which the Special Assessments are made at an interest rate which shall be determined by the District to be substantially equivalent to the fair market rate that would have been borne by notes or bonds if notes or bonds had been issued by the District or another- issuer of notes or Fonds to pay the costs of the Project; together with all other necessary expenditures, all as more fully described in the Petition, the Supplemental Plan, and profiles, specifications, and estimates of cost of the Project, all of which are on file with the Director of Finance and open to the inspection of all persons interested. Section 3. This Council determines that the Project's elements are so situated in relation to each other that in order to complete the acquisition, construction, and improvelment of the Project's elements in the most practical and economical manner, they should be acquired and improved at the same time, with the saes kind of materials, and in the same manner; and that the Project's elements shall be., treated as a single improvement, pursuant to Ohio Devised Cede Section ��� ®�'o��, and the Project's elements shall he treated as a joint improvement to be undertaken cooperatively by the City and the District pursuant to Ohio Revised Code Section 9.482 and Ohio Devised Code Chapter 1 Y 10. Section 4. The plans and specifications and total cost of the Project now on file in the office of the Clerk of Council are approved, subject to changes as RECORD OF RESOLUTIONS Dayton Legal Blank, Inc., Form No. 30045 Resolution No. 44-19 Passed Page 3 of 6 , 20 permitted by Ohio Revised Code Chapter 727. The Project shall be made in accordance with the plans, specifications, profiles, and estimate of costs for the Project. Section 5. This Council determines and declares that the Project is an essential and vital public,, governmental purpose of the City as a Special Energy Improvement Project, as defined in Ohio Revised Code Section 1710.01(f); and that in order to fulfill that essential and vital public purpose of the City, it is necessary and proper to provide, in cooperation with the District, for the acquisition, construction, and improvement of the Project in the manner contemplated by the Petition and the Supplemental Plan. This Council determines and declarer that the Project is conducive to the public peace, health, safety and welfare of the City and the inhabitants of the City. Section 6_ Pursuant to and subject to the provisions of a valid Petition signed by the owners of one hundred percent (100%) of the Property, the entire cost of the Project shall be paid by the Special Assessments levied against the Property, which is the benefited property. The provisions of the Petition and the Supplemental Plan are ratified, adopted, approved and incorporated into this Re!3olution as if set forth in full in this Resolution. The portion of the costs of the Project allocable to the City will be zero percent (0%)o The City does not intend to issue securities in anticipation of the levy or the collection of the Special Assessments. Section Y. The method of levying the Special Assessments shall be in proportion to the benefits received, allocated among the parcels constituting the Property as set forth in the Petition and the Supplemental Plan. Section 8.. The lots or parcels of lend to be assessed for the Project shall be the Property, described in Exhibit A to the Petition, a I I of which lots and lands are determined to be specially benefited by the Project. Section 9.. 1 he Special Assessments shall be levied and paid in 38 semi- annual installment; pursuant to the list of estimated Special Assessments set forth in the Petition and the Supplemental Plan (which list is incorporated herein by reference), and the Owner has waived its option to pay the Special Assessment in cash within 30 days after the first publication of the notice of the assessflng ordinance. The aggregate amount of Special Assessments estimated to be necessary to pay the costs of the Project is $1,921,598.46. Each semi-annual Special Assessment payment represents payment of a portion of the principal of and interest on obligations issued or incurred to pay the costs of the Project and of administrative expenses. The interest portion of the Special Assessments, together with amount,('3 used to pay administrative expenses, shall be treated as part of the cost of the Project for which the Special Assessments are made at an interest rate which shall be determined by the District to be substantially equivalent to the fair market rate that would have been borne by notes or bonds had notes or bonds been issued by the City or another issuer of notes or bonds to pay the costs of the Project. In addition to the Special Assessments, the County Auditor of Franklin County, Ohio may impose a special assessment collection fee with respect to each semi-annual payment, which amount will be added to the Special Assessments by the County Auditor of Franklin County, Ohio. RECORD OF RESOLUTIONS Dayton Legal Blank, Inc., Form No. 30045 Resolution No. 44-19 Passed Page 4 of 6 , 20 Section 10. The Director of Finance or the Director of Finance's designee is authorized and directed to prepare and file in the office of the Clerk of Council the estimated Special Assessments for the cost of the Project in accordance with the method of assessment set forth in the Petition, the Supplemental Plan, and this Resolution, showing the amount of the assessment against each lot or parcel of land to be assessed. Section 11. Notice of the adoption of this Resolution and the filing of the estimated Special Assessments upon the Owner of the Assessed Property as provided in Ohio Revised Code Section 727.13 shall be delivered by the Clerk of Council to the Owner promptly following adoption of this Resolution. Section 12. The Director of Finance or the Director of Finance's designee is authorized, pursuant to Ohio Revised Code Section 727.12, to cause the Special Assessments to be levied and collected at the earliest possible time including, if applicable, prior to the completion of the acquisition and construction of the Project. Section 13. The Special Assessments will be used by the City to pay the costs of the Project in cooperation with the District in any manner, including assigning the Special Assessments actually received by the City to the District or to another party the City deems appropriate, and the Special Assessments are appropriated for such purposes. Section 14. This Council accepts and approves the waiver of all further notices, hearings, claims for damages, rights to appeal and other rights of property owners under the law, including but not limited to those specified in the Ohio Constitution, Ohio Revised Code Chapter 727, Ohio Revised Code Chapter 1710, and the Charter of the City of Dublin, Ohio, and consents to the immediate imposition of the Special Assessments upon the Property. This waiver encompasses, but is not limited to, waivers by the Owner of the following rights: (i) The right to notice of the adoption of the Resolution of Necessity under Ohio Revised Code Sections 727.13 and 727.14; (ii) The right to limit the amount of the Special Assessments under Ohio Revised Code Sections 727.03 and 727.06; (iii) The right to file an objection to the Special Assessments under Ohio Revised Code Section 727.15; (iv) The right to the establishment of, and any proceedings by and any notice from an Assessment Equalization Board under Ohio Revised Code Sections 727.16 and 727.17; (v) The right to file any claim for damages under Ohio Revised Code Sections 727.18 through 727.22 and Ohio Revised Code Section 727.43; (vi) The right to notice that bids or quotations for the Project may exceed estimates by 15%; (vii) The right to seek a deferral of payments of Special Assessments under Ohio Revised Code Section 727.251; (viii) The right to notice of the passage of the assessing Resolution under Ohio Revised Code Section 727.26; and (ix) Any and all procedural defects, errors, or omissions in the Special Assessment process. Section 15. This Council finds and determines that all formal actions of this Council concerning and relating to the passage of this Resolution were RECORD OF RESOLUTIONS Dayton Legal Blank, Inc., Form No. 30045 Resolution No. 44-19 Passed Page 5 of 6 , 20 adopted in an open meeting of this Council, and that all deliberations of this Council and any of its committees that resulted in such formal action were in meetings open to the public in compliance with all legal requirements, including Ohio Revised Code Section 121.22. Section 16. This Resolution is effective upon passage as provided under Section 4.04(a) of the Revised Charter. [gnatureSi Page Follows] g RECORD OF RESOLUTIONS Resolution No. 44-19 Clerk of Council Passed Page 6 of 6 1,20 2019. To,& Members of Dublin City Council From,n Dana McDaniel, City Manag le, Date: July 31, 2019 En'lffl"ated By.& Donna Goss,, Ph.D., Director of Development Colleen Gilger, CEcD,. Director of Economic Development Jeremiah Gracia, CEcD, Economic Development Administrator Re:. Resolutions, Petition, and Ordinances for Property Assessed Clean Energy (PACE) Special Improvement for 5165 Emerald Parkway The City has no financial obligations with the establishment of a Special Improvement District for this project. The City simply serves as a pass-through entity for the project financing. 71 - Staff recommends Council approve Resolution No. 43-19 and 44-19 on August 12, 2019 and ordinances No. 39-19 — 41-19 on August 26, 2019. Please contact Jeremiah Gracia with any questions. Memo re. PACE for 5165 Emerald Parkway July 31, 2019 Page 2 of 2 D1♦ WHAT IS PACE? Property Assessed Clean Energy WACE) is a 'himoonq mechaitikisni tl"at criables low-cost, Ionq-torm funding for energy efficiency. rcmiowable energy and eeatei conscryation projects. PACE hnanciiiq Is repaid as anassessmic-nt on the propetty"s regular lax bill, and is processed the sanie way as otfw-t local public benefit assessments (sideavalks, sewers) have been for decades. 04:.p-0-iitcling on local li2-qlslation, PACE can be used for cornmercwil, rionprolht and residential piopertwi'_S. HOW DOES IT WORK *7 PACE is a national initiative, but pf ogiarns ace estab4shed locally and tailored toniect regional market needs- State legislation is passed that authorizes rnunicipall ties to establish RACE proqrams, and local governments have developed a variety of program models t4at have beta successfully implem-eated. Re -far dless of mode -1, there are several keysto4x-s that hold true for e#vciy PACE program.. • PACE is Yoluntary for all parties lnvol,.ed. • PACE can covet 100% of a project's hard a4id soft costs. • Lonq hnancinq terms up to 20 years. • Can be combined With utillLy, local and federal incentive proqran1s. • Energy projects are permanently affixed to a property. • The PACE assessment is hl -ed with the local (nu nicipa lity as a lien on th e-- property. WHY IS IT SO POPULAR? Propetty owners love PACE because they can fund prqjects.;wfth no out-of-pocket costs. Since PACE hnanciaq terms ex tend to 20 years, it's possible to undertake deep, comprehensive retrofits that have meaningful energy savings and a significant impact on the bottom line. The annual ene(qy savings for a PACE project usually exceeds the annual asse-ssinent payment, so property owners are ca-sh flovoi positive immcliately. That means there are increased dollars that can be spent on other capital projects, budgetary expenses, or business expansion . BENEFITS OF PACE Local e4overnmeots love PACE because it's an Economic Development initiative that lowers the cost of doing business in their community. It encourages new business owners to invest in the area, and creates jobs using the local workforce. PACE PCENationpr 1ects also have a positive impact of air, quality, creating healthief, r-nore livable 't V.i neighborhoods. HOW CAN I GET PAC E 7. 111ACENation i i t,,h e ncwiprofn advocate faf VokCE � kVe �x I financink, ,oysde leadei�tilpa, www. PACE Nat ion.us has all the tools and resources you need to qet started with data. supVcwt iino fewLitco.'s ;, CA' PACE. Check to see if your state has passed a PACE statute. and if your area has an the 9, owing active progran),Itnot, contact us to find out if there isa local initiative indeve-lopment VA&W.pacenatton-us and we may be able to put you in touch with a working coalition. We look forward Info w-- pKeoow.-Orq to hearing frorn you!