23-07 OrdinanceRECORD OF ORDINANCES
Dayton Legal Blank, Inc. Form No. 30043
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Ordinance No
23 -07 Passed 20.
AN ORDINANCE DEDICATING CERTAIN LAND TO
LTF REAL ESTATE COMPANY, INC. PURSUANT
TO AN ECONOMIC DEVELOPMENT AND TAX
INCREMENT FINANCING AGREEMENT
WHEREAS, the City of Dublin ( "City ") entered into an Economic Development
and Tax Increment Financing Agreement ( "Agreement ") with LTF Real Estate
Company, Inc. ( "LTF ") on January 5, 2006, in connection with the extension of
Emerald Parkway; and
WHEREAS, within the Agreement, the City agreed to grant LTF an easement
across certain lands ( "Reserve B ") for access to and from Emerald Parkway
and the property owned by LTF as described in Exhibit "A" and depicted in
Exhibit "B" attached; and
WHEREAS, the City has determined, through negotiations with LTF, that
transferring a fee simple interest in Reserve B instead of granting an
easement to LTF would be preferential to both parties.
NOW, THEREFOR BE IT ORDAINED by the Council of the City of Dublin,
State of Ohio, the elected members concurring, that:
Section 1 . Certain lands ( "Reserve B "), as described in Exhibit A and
depicted in Exhibit B (attached), be deeded to LTF Real Estate Company, Inc.
Section 2 . The City Manager is hereby authorized to execute all necessary
instruments in connection with this transfer of deed.
Section 3. This Ordinance shall take effect and be in force on the earliest
date provided by law.
Passed this the 3y- day of , 2007.
Mayor — Presiding Officer
ATTEST:
C '
Clerk of Council
1
City Manager
5200 Emerald Parkway • Dublin, OH 43017
Phone: 614- 410 -4400 •Fax: 614 - 410 -4490 Memo
CITY OF DUBLIN
To: Members of Dublin City Council
From: Jane S. Brautigam, City Managekja,,,, 5,
Date: April 3, 2007
Initiated By: Marsha I. Grigsby, Deputy City Manager /Director of Finance
Paul Hammersmith, Director of Engineering
Re: Ordinance No. 23 -07, An Ordinance Dedicating Certain Land to
LTF Real Estate Company, Inc. (Life Time Fitness)
Summary:
As you will recall, the City entered into an Economic Development and Tax Increment
Financing (ED /TIF) Agreement with Life Time Fitness in early 2006 (Ordinance No. 58-
05, passed October 17, 2005). The ED /TIF Agreement provided for the City to acquire
and provide to Life Time Fitness any necessary easements over the land that would be
located between the eastern edge of Emerald Parkway and the western boundary of
their property for an access road and a monument sign. A copy of the ED /TIF
Agreement exhibit depicting the area is attached and referenced as Attachment #1.
Subsequent to the execution of the ED/TIF Agreement with Life Time Fitness, the City
entered into an Agreement (Ordinance No. 41 -06, passed July 3, 2006) with Sawmill
Partners Investment Company (Sawmill Partners) whereby Sawmill Partners transferred
property to the City in lieu of reimbursing the City for certain costs in connection with the
construction of Emerald Parkway Phase 5B. A map depicting the property dedicated to
the City, Reserve A and Reserve B, is attached and referenced as Attachment #2.
The City had requested Sawmill Partners to dedicate Reserve B to the City in order for
the City to meet its obligation to provide Life Time Fitness access between Emerald
Parkway 5B and their site. In reviewing Reserve B and the easement that would need
to be dedicated to Life Time Fitness, it has been determined that it is in the best interest
of both the City and Life Time Fitness for the City to dedicate Reserve B to Life Time
Fitness. A map of Reserve B is attached and referenced as Attachment #3. The map
highlights the access road to be constructed by Life Time Fitness, the 20 foot easement
maintained by the City and the pavement and building setbacks.
Recommendation
Staff is recommending that Ordinance No. 23 -07 be adopted at the April 23, 2007 City
Council meeting.
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ATTACHMENT 2
ATTACHMENT 3
CITY OF DUBLIN
PREPARED BY THE CITY OF DUBLIN,
ENGINEERING
5800 Shier Rings Road • Dublin, Ohio 43016 -1236
Phone (614)410 -4600 * Fax (614)761 -6506
EXHIBIT
AREA BREAKDOWN
RESERVE "B" OF EP 5B
DUBLIN, OHIO
5.146 AC
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0 = INDICATES
EASEMENT
2.677 AC
88 °20' 18" W
457.16'
16.725 AC
AREA OWNED BY THE CITY OF DUBLIN.
0 = INDICATES AREA NEEDED BY LIFE TIME FITNESS.
= INDICATES AREA OF "RESERVE B" PER PLAT.
DRAWN I CHECKED I DATE: I JOB NO. 1
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ZOMDUNNen,,,.
Exhibit "A"
Reserve "B" Legal Description
Situated in the County of Franklin, in the State of Ohio and in the City of Dublin:
Being Reserve "B" of Emerald Phase 5B, as said Reserve "B" is delineated upon the recorded
plat thereof, of record in Plat Book No. 110, Page 47 -48 Recorder's Office, Franklin County,
Ohio.
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250 West Street, Columbus Ohio 43215 253 8 1 P O. Box 165020, Columbus off 43216 5020 1 voice 614 462 1 Fax 614 462 -5135
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