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AN ORDINANCE CREATING THE ALTO-RYAN HOMES TAX INCREMENT FINANCING INCENTIVE DISTRICTS; DECLARING IMPROVEMENTS TO THE PARCELS WITHIN EACH INCENTIVE DISTRICT TO BE A PUBLIC PURPOSE AND EXEMPT FROM REAL PROPERTY TAXATION; REQUIRING THE OWNERS OF THOSE PARCELS TO MAKE SERVICE PAYMENTS IN LIEU OF TAXES; ESTABLISHING A MUNICIPAL PUBLIC IMPROVEMENT TAX INCREMENT EQUIVALENT FUND FOR THE DEPOSIT OF THOSE SERVICE PAYMENTS; REQUIRING THE DISTRIBUTION OF A PORTION OF THOSE SERVICE PAYMENTS TO THE CIRCLEVILLE CITY SCHOOL DISTRICT AND THE PICKAWAY-ROSS CAREER AND TECHNOLOGY CENTER; SPECIFYING THE PUBLIC INFRASTRUCTURE IMPROVEMENTS THAT BENEFIT OR SERVE PARCELS IN THE INCENTIVE DISTRICTS; APPROVING A TAX INCREMENT FINANCING AGREEMENT WITH THE DEVELOPER OF THE INCENTIVE DISTRICTS; AND DECLARING AN EMERGENCY.
