Ordinance 036-19RECORD OF ORDINANCES
BARRETT BROTHERS - DAYTON, OHIO Form 6220S
Ordinance No. 16-1-9 Passed
AN ORDINANCE DECLARING THE IMPROVEMENT TO
CERTAIN PARCELS OF REAL PROPERTY IN THE CITY'S
BRIDGE STREET DISTRICT TO BE A PUBLIC PURPOSE AND
EXEMPT FROM TAXATION; PROVIDING FOR THE
COLLECTION AND DEPOSIT OF SERVICE PAYMENTS AND
SPECIFYING THE PURPOSES FOR WHICH THOSE SERVICE
PAYMENTS MAY BE EXPENDED; AND AUTHORIZING
COMPENSATION PAYMENTS TO THE DUBLIN CITY
SCHOOL DISTRICT AND THE TOLLES CAREER AND
TECHNICAL CENTER.
WHEREAS, the City has prepared a strategy for comprehensive development
within an area of the City known as the Bridge Street District (which area is
referred to herein as the "District") and has endeavored to work collaboratively
with public entities, including the Dublin City School District ("Dub/in School
District") and the Tolles Career and Technical Center (" To/%s Career Center`'),
and private entities to plan for and facilitate the development of the District;
and
WHEREAS, the City's strategy for development within the District is primarily
focused on creating a new, more urban core for the City, including a dynamic
mix of commercial and residential development types generally not currently
available within the City; and
WHEREAS, the City and Crawford Hoying Development Partners, LLC have
proposed to enter into a development agreement and other related agreements
which will generally provide for the redevelopment of the Parcels (as defined in
Section 1) and the construction of redevelopment project which will include
various uses (the "Project"); and
WHEREAS, to facilitate redevelopment throughout the District, including but
not limited to the Project, and pay the associated costs of improvements and
related incentives, this Council has determined pursuant to Ohio Revised Code
Sections 5709.41, 5709.42 and 5709.43 (collectively, the "TIF Statutes') to
declare the improvement to certain parcels of real property located within the
Project area to be a public purpose and exempt from taxation, require the owner
of each parcel to make service payments in lieu of taxes, establish an urban
redevelopment tax increment equivalent fund for the deposit of the those
service payments, specify the purposes for which money in that fund will be
expended, and provide for the distribution of an applicable portion of such
service payments to the Dublin School District and Tolles Career Center; and
WHEREAS, Ohio Revised Code Section 5709.41 requires that the City hold fee
title to the Parcels prior to enacting this Ordinance; and
WHEREAS, prior to the passage of this Ordinance, the City accepted title to the
Parcels (as defined in Section 1) and pursuant to the development agreement,
the City has or will transfer title to the Parcels to Crawford Hoying Development
Partners, LLC or its designee; and
WHEREAS, the Board of Education of the Dublin School District has heretofore
adopted a resolution on April 14, 2014, waiving the provision of certain notices,
approving the tax exemption of the Improvements (as described in Section 3),
authorizing an agreement (which has heretofore been executed) between the City
and the Dublin School District providing for the remission of certain payments to
RECORD OF ORDINANCES
BARRETT BROTHERS - DAYTON, OHIO Form 62205
Ordinance No. 3.6..2- Passed Paae 2 of 4
the Dublin School District (the ''Dublin School District Agreement) and making
other findings with respect to the tax exemption; and
WHEREAS, the Board of Education of the Tolles Career Center has heretofore
adopted a resolution on June 26, 2014 waiving the provision of certain notices,
approving the tax exemption of the Improvements, authorizing an agreement
(whi(-.-.-h has heretofore been executed) between the City and the Tolles Career
Center providing for the remission of certain payments to the Tolles Career Center
(the Tolles Career CenterAgreement� and making other findings with respect to
the tax exemption; and
NOW, THEREFORE BE IT ORDAINED by the Council of the City of Dublin,
State: of Ohio,7 of the elected members concurring, that:
Section 1. Parcels. The parcels of real property subject to the exemption
granted by this Ordinance are identified and depicted in EXHIBIT A attached
hereto (each, as currently or subsequently configured, individually, a "Parcel'
and i:ollectively, the "Parcels''). This Council finds that the City acquired the
Parcels while engaged in urban redevelopment.
Section 2. Urban Redevelopment Costs. Money deposited into the TIF Fund
(as defined in Section 5) may be used to pay for or finance the costs of
improvements to or on, or servicing, the Parcels or the Project, including but not
limited to water, sewer and storm sewer improvements, parks and recreation
improvements, roadway improvements, parking facilities, the acquisition of real
estate and interests in real estate, and site preparation, for those improvements
and for the Project, together with all necessary appurtenances and related costs,
including but not limited to all costs enumerated in Ohio Revised Code Section
133.11.5(B), together with any other costs hereafter designated by ordinance
(collectively, the "Urban Redevelopment Costs'.
Section 3. Authorization of Tax Exemption. This Council hereby finds and
determines that 100% of the increase in assessed value of each Parcel
subsequent to the acquisition of that Parcel by the City (which increase in
assessed value is hereinafter referred to as the "Improvement" as defined in Ohio
Revised Code Section 5709.41) is hereby declared to be a public purpose and will
be exempt from taxation for a period commencing on the effective date of this
Ordinance with respect to that Parcel and ending on the earlier of (a) 30 years
after such commencement or (b) the date on which the City can no longer require
service payments in lieu of taxes, all in accordance with the requirements of the
TIF Statutes. Notwithstanding any other provision of this Ordinance, the
exemption granted pursuant to this Section 3 and the payment obligations
established pursuant to Section 4 of this Ordinance are subject and subordinate
to any tax exemption applicable to the Improvement approved by the City
pursuant to Sections 3735.65 through 3735.70 of the Ohio Revised Code.
Section 4. Service Payments and Property Tax Rollback Payments. Subject to
any tax exemption applicable to the Improvement approved by the City pursuant
to Seirtions 3735.65 through 3735.70 of the Ohio Revised Code, and pursuant to
Ohio Revised Code Section 5709.42, the owner of each Parcel is hereby required
to and shall make annual service payments in lieu of taxes with respect to the
Improvement to that Parcel to the Treasurer of Franklin County, Ohio (the
"County Treasurer's on or before the final dates for payment of real property
taxes. Each service payment in lieu of taxes, including any penalties and interest
at the then current rate established for real property taxes (collectively, the
RECORD OF ORDINANCES
BARRETT BROTHERS - DAYTON, OHIO Form 6220S
Ordinance No. 3.6_19
Passed Paae 3 of 4
"Service Payments'), will 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 the Improvement if it were not subject to the exemption granted
in this Ordinance. The Service Payments, and any other payments with respect
to each Improvement that are received by the County Treasurer in connection
with the reduction required by Sections 319.302, 321.24, 323.152 and 323.156
of the Ohio Revised Code, 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', will be allocated and distributed in
accordance with Section 6 of this Ordinance.
Section 5. TIF Fund, This City Council hereby establishes, pursuant to and in
accordance with the provisions of Ohio Revised Code Section 5709.43, the Bridge
Park — Block F Urban Redevelopment Tax Increment Equivalent Fund (the " TIF
Funct). The TIF Fund shall be maintained in the custody of the City and shall
receive all distributions to be made to the City pursuant to Section 6 of this
Ordinance. Those Service Payments and Property Tax Rollback Payments
received by the City with respect to the Improvement of each Parcel and so
deposited pursuant to Ohio Revised Code Section 5709.42 shall be used solely
for the purposes authorized in the TIF Statutes or this Ordinance. The TIF 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 the TIF Fund shall be dissolved and any incidental surplus funds remaining
therein transferred to the City's General Fund, all in accordance with Ohio Revised
Code Section 5709.43.
Section 6. Distributions. Pursuant to the TIF Statutes, the County Treasurer
is requested to distribute the Service Payments and Property Tax Rollback
Payments to the City for further deposit into the TIF Fund for (a) payment of
Urban Redevelopment Costs, including, without limitation, debt charges on any
securities of the City issued to pay or reimburse financing costs or Urban
Redevelopment Costs, (b) remission, on a pro rata basis, to the Dublin School
District in accordance with the Dublin School District Agreement and the Tolles
Career Center in accordance with the Tolles Career Center Agreement and (c)
any other lawful purpose.
All distributions required under this Section are requested to be made at the same
time and in the same manner as real property tax distributions.
Section 7. Further Authorizations. This City Council hereby authorizes and
directs the City Manager, the Director of Finance, the Director of Law, the
Director of Development, the Clerk of Council or other appropriate officers of
the City to make such arrangements as are necessary and proper for collection
of th+e Service Payments and the Property Tax Rollback Payments. This City
Council further hereby authorizes and directs the City Manager, the Director of
Finance, the Director of Law, the Director of Development, the Clerk of Council
or other appropriate officers of the City to prepare and sign all documents and
instruments and to take any other actions as may be appropriate to implement
this Ordinance.
Section 8. Tax Incentive Review Council. The applicable Tax Incentive Review
Couni�il, with the membership of that Council to be constituted in accordance with
Section 5709.85 of the Ohio Revised Code, shall, in accordance with Section
5709,85 of the Ohio Revised Code, review annually all exemptions from real
property taxation granted by this Ordinance and any other such matters as may
RECORD OF ORDINANCES
BARRETT BROTHERS - DAYTON, OHIO Form 6220S
Ordinance No. 36-19 Passed—.gage 4 of 4
properly come before that Council, all in accordance with Ohio Revised Code
Section 5709.85.
Section 9. Filings with Ohio Development Services Agency. Pursuant to Ohio
Revised Code Section 5709.41(E), the City Manager is hereby directed to deliver
a copy of this Ordinance to the Director of the Ohio Development Services Agency
within fifteen days after its effective date. Further, and on or before March 31 of
each year that the tax exemption authorized by Section 3 remains in effect, the
Director of Development or other authorized officer of the City is directed to
prepare and submit to the Director of the Ohio Development Services Agency the
status report required under Ohio Revised Code Section 5709.41(E).
Section 10, Open Meetings. This City Council finds and determines that all
formal actions of this City Council and any of its committees concerning and
relating to the passage of this Ordinance were taken in an open meeting of this
City Council or any of its committees, and that all deliberations of this City Council
and any of its committees that resulted in those formal actions were in meetings
opens to the public, all in compliance with the law including Ohio Revised Code
Section 121.22.
Section 11, Effective Date. This Ordinance shall be effective at the earliest date
provided by law; provided, however, pursuant to the authority granted to this
Council by Section 4.04(b) of the City Charter, Section 3 of this Ordinance is
effective as to each Parcel commencing with the first tax year an Improvement
to that Parcel attributableto sew structure appears on the tax list and duplicate
(regaAless of tax exemp u).
FW F
yor — Presidjpg Offi
TTE.ST:
Clerk of Council
* W -
i o: Members of Dublin City Council
From: Dana L. McDaniel, City Mana
Dates, August 6, 201"t
Enitiated By: Angel L. Mumma, Director of Finance
Re: Ord'inance No. 36-19 — Establishing a Tax Increment Financl*ng Distr'140
(Bridge Park) (Block F)
Memo re. Ordinance No. 36-19 — Establishing a Tax Increment Financing District (Bridge Park) (Block F)
August 6, 2019
Page 2 of 2
Years 1-15 — DCS agrees to forego 100% of the applicable real estate taxes in respect o
the improvements to any particular parcel within the applicable tax incentive district. I
Years 16-30 — DCS will receive 10% of what it would have received if the applicable tax
incentive district had not been in place.
7;
Staff recommends that Ordinance No. 36-19 be adopted by City Council at the seconi
reading/public hearing on August 26,, 2019.
EXHIBIT A
IDENTIFICATION AND MAP OF THE PARCELS
The outlined area on the following map specifically identifies and depicts the Parcels and
constitutes part of this EXHIBIT A. The Parcels include, without limitation, the following tax
parcels: 273-013080, 273-013081 and 273-013082, (as they existed in the County Auditor's
records on July 30, 2019), and are included for ease of reference only.
A-1
August 12, 2019
Ordinance No. 36-19
Establishing a Tax Increment Financing District
Bridge Park (Block F)
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rDucgin Bridge Park - Block F TIF
OHIO, USA
■ Covers all commercial property
■ Incentive District (Residential TIF) established in 2015 layers on all parcels in Bridge
Park
■ Block F
• Hotel — 145 -key Springhill Suites by Marriott, including 6,500 SF ground -floor retail/restaurant
• Parking garage
■ Private Improvement Valuation - $10 million (estimate)
■ TIF estimated to generate $10.2 million (over 30 years)
■ Provides funding for the Community Facilities; Creation of TIF provided for in
Development Agreement with Crawford Hoying
of Dublin
OHIO, USA