2023-132 Ordinance - Laserfiche WebLink

Home Browse Search

BY: Mayor Jones CITY OF NORTH OLMSTED ORDINANCE NO. 2023 -132 AMENDING ORDINANCE NO. 2012-72 TO ADD TO THE PROPERTY SUBJECT TO THE EXEMPTION GRANTED THEREIN AND TO EXTEND THE EXEMPTION FROM TAXATION FOR CERTAIN PARCELS IN THE CITY; AND DECLARING AN EMERGENCY. WHEREAS, pursuant to Ohio Revised Code ("ORC") 5709.40, 5709.42, and 5709.43 (collectively, the "TIF Acf') this Council on September 18, 2012, passed Ordinance No. 2012-72 (the "TIF Ordinance") thereby declaring improvements to parcels of certain real property located in the City (as identified and depicted in the TIF Ordinance and referred to herein as the "Property"), to be a public purpose, exempting those improvements from real property taxation for a period of 30 years, specifying public infrastructure improvements (as described in the TIF Ordinance and referred to therein as the "Public Improvements") to be made to benefit the Property, providing for the making of service payments in lieu of taxes (the "Service Payments") by the owner(s) thereof, and establishing a municipal public improvement tax increment equivalent fund into which those Service Payments were to be deposited, and providing for payments to the North Olmsted City School District and the Polaris Joint Vocational School District (collectively the "School Districts") out of the Services Payments; and WHEREAS, this Council desires to amend the TIF Ordinance to add additional parcel to the Property subject to the exemption granted by the TIF Ordinance; and WHEREAS, this Council desires to further amend the TIF Ordinance to extend, for 30 year additional years, the exemption from taxation of improvements to the Property granted pursuant to the TIF Ordinance and this Ordinance, and to further provide for payments to the School Districts out of those Service Payments; and WHEREAS, notice of this amendment to the TIF Ordinance has been timely delivered to the School District in accordance with ORC Sections 5709.40 and 5709.83; NOW, THEREFORE, BE IT ORDAINED by the Council of the City of North Olmsted, Cuyahoga County, Ohio, that: Section 1. This Council finds and determines that the Service Payments made by owners of the Property pursuant to ORC Section 5709.42 exceeded one million five hundred thousand dollars in calendar year 2022. Section 2. The TIF Ordinance is hereby amended to add the parcels shown on Exhibit A attached hereto to the Property subject to the TIF Ordinance and the exemption granted thereby.