2000 029 Ordinance - Laserfiche WebLink

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ORDINANCE N0.2000-29 INTRODUCED BY: Mayor Rinker and Council as a Whole AN ORDINANCE DECLARING IMPROVEMENTS TO CERTAIN PARCELS OF REAL PROPERTY TO BE A PUBLIC PURPOSE, REQUIlZING THE OWNERS THEREOF TO MAKE SERVICE PAYMENTS IN LIEU OF TAXES, DESCRIBING PUBLIC IltiIPROVEMENTS WHICH BENEFIT SUCH PARCELS, AUTHORIZING AN AGREEMENT WITH GOVERNOR'S VII.LAGE L.L.C., ESTABLISHING A MUNICIPAL PUBLIC IMPROVEMENT TAX INCREMENT EQUIVALENT FUND FOR THE DEPOSIT OF SUCH SERVICE PAYIVtENTS, AND RELATED AUTHORIZATIONS PURSUANT TO OHIO REVISED CODE SECTIONS 5709.40, 5709.42 AND 5709.43; AND DECLARING AN EMERGENCY. WHEREAS, Ohio Revised Code Sections 5709.40, 5709.42 and 5709.43 (the '`Act") provide that this Council may describe public improvements made or to be made which benefit certain parcels, declare Improvements (as defined in O.R.C. Section 5709.40) with respect to such parcels of real property located in the Village to be a public purpose, thereby authorizing the exemption of those Improvements from real property taxation for a period of time, and provide for the making of service payments in lieu of taxes by the owners of such parcels, and establish a municipal public improvement tax increment equivalent fund into which such service payments shall be deposited; and WHEREAS, Governor's, Village L.L.C. (the "Company'''), intends to develop the pazcels described in Exhibit A hereto (said pazcels are referred to herein as the "Property") with assisted living facilities, and potentially also with nursing caze and office building facilities; and the public improvements described in Exhibit B attached hereto (the "Public Improvements") when made will directly benefit the Property; and WHEREAS, the Village has determined that it will carry out the Village's financing plan for the Public Improvements, and that it is necessary and appropriate and in the best interests of the Village to provide for service payments in lieu of taxes with respect to the Property pursuant to Section 5709.42 of the Ohio Revised Code, and to authorize an agreement with the Company in connection therewith; and WHEREAS, the Mayfield City School District ("School District") has been notified of the exemption provided for herein pursuant to O.RC. Section 5709.83 and this ordinance provides for the payment to the School District of payments in lieu of taxes in the amount of the taxes that would have been payable to the School District if the Improvements had not been exempted from taxation, NOW, THEREFORE, BE IT ORDAINED by the Council of Mayfield Village, Cuyahoga County, Ohio, that: