Ordinance 039-19RECORD OF ORDINANCES
BARRETT BROTHERS - DAYTON, OHIO Form 6220S
11 Ordinance No. Pic - i g Passed
AN ORDINANCE DETERMINING TO PROCEED
WITH THE ACQUISITION, CONSTRUCTIOU`,1,
AND IMPROVEMENT OF CERTAIN PUBLIC
IVilPROVEMENTS IN THE CITY OF DUBLIN,
OHO IN COOPERATION WITH THE
COLUMBUS REGIONAL ENERGY SPECIAL
IMPROVEMENT DISTRICT (5165 EMERALD
PARKWAY, DUBLIN, OHIO PROJECT)
WHEREAS, i"he council (`®Council") of the City of Dublin, Ohio ('the "City") duly
adopted Resolution No. 44-19 on August 12, 20-1.9 (the "Resolution of
Necessity"), (i) declaring the necessity of acquiring, constructing, improving,
and installing energy efficiency improvements including, without limitation,
high -.efficiency H\I AC systems, building automation controls, LED lighting, and
relatE.:,,d improvements (the, ,"Project as more J':ully described in the Petition
referenced in this Ordinance) located on real property owned by 970 Fl gh Ridge
Associates LLC (the "Owner") and identified by the County Auditor of Franklin
County, Ohio as Parcel Number 273-001687-00 within the City (the 'AProperty if f
as more fully described in Exhibit A to the Petition); (ii) providing for the
acquiisition, construction, and improvement of the Project by the Owner, as set
forth in the Owner's Petition for Special Assessments for Special E-nergy
Zmptovement Projects and Affidavit (the "'Petition"), including by levying and
collecting special assessments to be assessed upon the Property (the, "Special
Asse(Ssments") in an amount sufficient to pay the costs of the Project, which is
estimated to be $1,921,598.06, including other related costs of financing the
Project, which may include, without limitation, the payment of principal of and
interest on nonprofit corporate obligations issued to pay the costs of the Project
and ether interest., fi
RECORD OF ORDINANCES
BAR.RETT BROTHERS - DAYTON, OHIO
Ordinance No. 39-19 Passed. Page 2 of 4 ,
estimates of cost previously approved and now on file with the Director of
Finance and the Clerk of Council.
Section 3. The Special Assessments to pay costs of the Project, which are
estimated to be $.l.,921,598.06, including any and all architectural engineering,
g g®
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
real estate or interests in real estate; reasonable expenses of legal services;
costs of labor and materiel; trustee fees and other financing costs incurred in
connection with the issuance, sale, and servicing of securities, nonprofit
corporate obligations, or other reasonable obligations issue(] or incurred to
provide a loan or to secure an advance of funds to the Owner or otherwise to
pay costs of the Projec'in anticipation of the receipt of the Special Assessments,
capitalized interest on, and financing reserve funds for, such securities,
nonprofit corporate obligations, or other 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 pM of the cost of the Project for which the Special
Asse<'sments 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 issuec1 by the [district
or another issuer of miles or bonds to pay the costs of the Project; together
with all other necessary expenditures, shall be assessed against the Property in
the manner and in the number of semi-annual installments provided in the
Petition and the Resolution of Necessity. Each semi-annual Special Assessment
payment represents the payment of a portion of any principal repayment and
interest and administrative fees payable with respect to the Project. The Special
Assessments shall be assessed against the Property commencing in tax year
2019 for collection in 2020 and shall continue through tax year 20Y for
collection in 2038; provided, however, if the proceedings relating to the Special
Assee,snients are completed at such time that the County Auditor of rranklin
County, Ohio determines that collections shall i oot commence in 2020, then the
collection schedule) may be deferred by one year. In addition to the Special
Assessments, the (ounty Auditor of Franklin Count\/, Ohio may impose a special
assessment collection fee with respect to each semi-annual payment, which
amount, if imposed, will be added to the Special Assessments by the County
Auditor of G-ranldin County, Ohio.
Section 4. 1'he estimated Special Assessments for costs of the Project
prepared and filed in the office of the Clerk of Council and in the office of the
Director of Finance, in accordance with the Resolution of Necessity, are
adopted.
Section S. In compliance with Ohio Revised Code Section 31.9061., the Clerk
of Council is directed to deliver a certified copy of this Ordinance to the County
Au( iter of Franklin County, Ohio within 15 days after the date of its passage.
Section 6. Ali contrracts for the construction of the Project will be let in
accordance with the Petition, the Program Plan, and the Supplemental Galan, and
the costs of the Project shall be financed as provided in the Resolution of
Necessity.
Form 622GS
RECORD OF ORDINANCES
BARRETT BROTHERS - DAYTON, OHIO
Ordinance No. 9-1�_
Form 6220S
Passed Paco 3 of 4
Section 7. 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 and of 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 8. Under Section 4.04 of the Charter of the City, this Ordinance is an
Ordinance for improvements petitioned for by owners of the requisite majority
(100%) of the front footage or the area of the property benefited and to be
assessed and shall be in full force and effect immediately upon its passage.
[Signature Page Follows]
RECORD OF ORDINANCES
BARRETT BROTHERS - DAYTON, OHIO
(0,� n4,-�� (I , -' L4e4,&1<-x*�e
Clerk of Council
PassE,ld : Aug ust - , 2019
Effective:: 0 Au ust� 2 19
g ,
_ Page 4of4 ,
Form 6220S
Members of Dublin City Council Z00%
From,: Dana McDaniel, City Manag
Date: July 31, 2019
Iniftiated By: Donna Goss,, Ph.D., Director of Development
Colleen Gilger, CEcD, Director of Economic Development
Jeremiah Gracia, CEcD, Economic Development Administrator
Rev., Resolutions, Petition, and Ordinances for Property Assessed Clean Energ
(PACE) Special Improvement for 5165 Emerald Parkway I
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.
Staff recommends Council approve Resolution No. 43-19 and 44-19 on August 12, 2019 and
*rdinances No. 39-19 — 41-19 on August 26, 2019. Please contact Jeremiah Gracia with any
&uestions.
Memo re. PACE for 5165 Emerald Parl
July 31, 2019
Page 2 oft
WHAT IS PACE?
PwpeM useaed Clan Erer9y, IPFCEI is a firsa lag m
n
coverp INAllm Nil for sandy elfitieneir. rmenergy and water
canseproaction prol^'nnrly is repaid as noassessment property
r on Joe s
"hill to Nil, and 1, pa rcli the same as Minor local bad, earned
m u acceptance asl en bardeyoaes le ni
"op, on, PACE onahe"i for comms ul allotment and reslJenNl pcpeNer.l
HOW DOES IT WORK?
I'll as I cowl Wagner sur pmdrzmx areerudMee Iheauy and ommarn mat
" Teasing, o ysed Wt au[M1wa mumnrylNer
on mal PACE prograre s, and loeal Islamic M1m devel a"ay of
program moMnMnM1art Men local Implenenrt. F,yor sof nedi
that are seseml Yeynmethat pan Inieery'i pmgnm.
• Pal al far At
• PACE can camplar WW of a aprolemte Fort ani Ik N
• using f anming term. upm dy...
• Can be combined both llaverfelrcentle programs.
• Fxyy prolm utny.lrc l lpememc do WUM to, property
• 11,ePALEasesmmtkfilMwltMM1elml mm4apalnyara fienon Wepair
WHY IS IT SO POPULAR?
se Jroo nM
holy man lune pminonut-nry¢Ist
seen page PACE nary term extendm20 pare, Pat moll to underoEedeep.
conmedgerness tmfio met new meaningful meryy savings and a synlfiont
annualImpact on me bottom 111, energy ssfor a PACE pmlemr usually
ismarms the annual IT,
nevings pryment as pmpenyvxners are mash day positive
Findrandandby That means them the,
eed
llars that
oro roam, FUJgetaryapenss,or Fuvnenevpan9onan be spent on other
govelmmmtslwy PACE Mouse It a an exi Coselopmenin, tiatim the
Ioxeuthe lost of ddng Mslness In mar commit nity. It encourage, new business
dollars to land In No any, and cossides, jobs mrd me Inas wn2fame. PACE
prgeae aro da Nei Impact FIT air di panne FaJMa, more back,
HOW CAN 1 GET PACE?
m has all N, ma. am rswmn pit nem to ga.onea eM
Ral rnet4 to see IF pun nate h. plead , PACE,tai and nsay u,areal he, an
ants, moll If as add Mcan di I,, Iwllnumerse m development
and we may M AE an par pit In rwrF wMa waii moalltm. We not fwwad
m h .... attach
BENEFITS OF PACE
PACENcel
Fit Accon. (.I Falls
the Falling maws no.
Froanappe. ad