[2023-132 Amend Ord. 2012-72 Exemption from Taxation Exhibit A.pdf]
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[2023-132 Amend Ord. 2012-72 Exemption from Taxation Exhibit B.pdf]
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LORAIN RD TIF INCENTIVE DISTRICT
CITY OF NORTH OLMSTED
0 350 700 1,400
ee es Feet
1:32,000
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[2023-132 Amend Ord. 2012-72 Exemption from Taxation.pdf]
CITY OF NORTH OLMSTED
ORDINANCE 2023 - 132
BY: Mayor Jones
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 Act") 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.
and any of its committees that resulted in those formal actions were in meetings open to the public,
all in compliance with the law including ORC 121.22.
Section 8. This Ordinance is declared to be an emergency measure necessary for the immediate
preservation of the public peace, property, health and safety of the City, and for the further reason that
this Ordinance is required to be immediately effective in order to enable the City to obtain funding for
economic growth and development of real property located within the City and to comply with
statutorily imposed deadlines for the effective date of this Ordinance; wherefore, this Ordinance shall
be in full force and effect immediately upon its passage and approval by the Mayor.
Passed:
, 2023
Attest:
Clerk of Council
President of Council
Approved:
, 2023
Mayor
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