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AMENDING ORD-0141-2013, PASSED BY CITY COUNCIL ON DECEMBER 17, 2013, TO ADD PARCELS TO THE CENTRAL PARK TIF.
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WHEREAS, pursuant to Ohio Revised Code Section 5709.40, this Council on December 17, 2013, passed ORD-0141-2013 (the "TIF Ordinance") thereby declaring improvements to parcels of certain real property located in the City generally referred to as Central Park (as described and depicted in the TIF Ordinance and referred to therein as the "Parcels") to be a public purpose, exempting those improvements from real property taxation for thirty (30) years, specifying public infrastructure improvements to be made to benefit those parcels, providing for the making of service payments in lieu of taxes by the owners of the parcels, and establishing a municipal public improvement tax increment equivalent fund into which those service payments are deposited; and
WHEREAS, this Council desires to amend the TIF Ordinance to add additional parcels to the Central Park TIF; and
WHEREAS, notice of this ordinance has been delivered to the Gahanna-Jefferson Public School District and the Eastland-Fairfield Career & Technical School District within the time periods required by Ohio Revised Code Sections 5709.40 and 5709.83.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF GAHANNA, COUNTY OF FRANKLIN, STATE OF OHIO, THAT:
Section 1. The Parcels set forth in Exhibit A of the TIF Ordinance are hereby supplemented to include the parcels set forth in EXHIBIT A hereto. Those parcels shall be considered "Parcels" for all purposes of the TIF Ordinance, as amended hereby.
Section 2. Section 1 of the TIF Ordinance is hereby amended and restated in its entirety as follows and applies to all Parcels as if fully set forth in the TIF Ordinance as originally adopted:
* "Section 1. Exemption. This Council hereby finds and determines that 100% of the increase in assessed value of each Parcel subsequent to the effective date of this ordinance (which increase i...
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