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APPROVING CERTAIN EXPENDITURES FROM THE JOHNSTOWN ROAD TIF AND THE OLDE GAHANNA TIF FOR CERTAIN PUBLIC INFRASTRUCTURE IMPROVEMENT DIRECTLY BENEFITING THOSE TIF AREAS.
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WHEREAS, pursuant to RC ?5709.40, this Council on December 27, 2005, passed ORD-0214-2005 establishing the Olde Gahanna TIF (as subsequently amended, the "Olde Gahanna TIF Ordinance") and on December 10, 2015, passed ORD-0102-2015 establishing the Johnstown Road TIF (as subsequently amended, the "Johnstown Road TIF Ordinance ") thereby declaring improvements to parcels of certain real property located in the City (the "Parcels") to be a public purpose, exempting those improvements from real property taxation for a period of time, specifying public infrastructure improvements to be made to benefit those parcels, providing for the making of service payments in lieu of taxes by the owner(s) thereof (the "Service Payments"), and establishing a municipal public improvement tax increment equivalent fund into which those Service Payments were to be deposited; and
WHEREAS, the City and Mifflin Township have entered into a Compensation Agreement on March 16, 2006, for the Olde Gahanna TIF and an Infrastructure Funding Agreement dated August 24, 2016, for the Johnstown Road TIF, whereby the City agreed to pay a portion of the Service Payments collected to the Township to facilitate the construction of public infrastructure improvements directly benefiting the Parcels; and
WHEREAS, this Council desires to confirm the use of the Service Payments for certain public infrastructure improvements that directly benefit the Parcels in the Johnstown Road TIF and the Olde Gahanna TIF.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF GAHANNA, COUNTY OF FRANKLIN, STATE OF OHIO, THAT:
Section 1. Based on information presented to it by City staff and other sources, this Council finds and determines that (a) the improvements described on EXHIBIT A hereto (the "Public Improvements") constitute p...
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