Label
Downtown SID Renewal - Resolution Approving Petition
Law Department
Paul F. Syring (x1025)
(Revised)
Title
Approving the Petition, Amended and Restated Articles of Incorporation, and Downtown Services Plan and Budget of the Revised Downtown Toledo Improvement District; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
Ohio law allows property owners to assess themselves to fund a number of services through the creation of a Special Improvement District (SID). Passage of this legislation represents the first step of a process by which businesses downtown may agree to improved services to be paid for by a special assessment. The Ohio Revised Code (??1710 et seq) requires that the legislative body of a community in which the proposed SID act on a petition within 60 days of the submission of such petition. A SID was established in downtown Toledo by approval of City Council in 2005. As a part of the City of Toledo's ongoing efforts to more effectively coordinate the work of downtown entities and to more efficiently partner with downtown businesses to help maintain, improve, and build the downtown area of the City of Toledo as a viable business, cultural, residential, and recreational community, Council approval for a revised SID serving the downtown area has been requested. The City of Toledo was approached by Downtown Toledo Improvement District, Inc. (DTID) with initial plans to organize a revised SID which includes property adjacent to the original SID. After securing the agreement of property owners representing at least 60% of the frontage of lots and lands affected by this proposed SID, a petition for the establishment of a revised SID was filed by Downtown Toledo Improvement District, Inc. in conformance with the Ohio Revised Code (??1710 et seq). As called for in the ORC, the petition signed by property owners representing at least 60% of the frontage of lots and lands affected by this proposed SID is accompanied by a copy of the amended and...
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