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ORDINANCE TO CREATE A TIF AREA PURSUANT TO SECTION
5709.40(8) OF THE OHIO REVISED CODE, DECLARE
IMPROVEMENTS TO CERTAIN PARCELS OF REAL PROPERTY
LOCATED IN THE TIF AREA TO BE A PUBLIC PURPOSE,
EXEMPT FROM REAL PROPERTY TAXATION 100% OF THOSE
IMPROVEMENTS, REQUIRE THE OWNERS OF THOSE
PARCELS TO MAKE SERVICE PAYMENTS IN LIEU OF TAXES,
PROVIDE FOR THE DISTRIBUTION OF THE APPLICABLE
PORTION OF THOSE SERVICE PAYMENTS TO THE
CIRCLEVILLE CITY SCHOOL DISTRICT AND THE PICKAWAYROSS
CAREER AND TECHNOLOGY CENTER, ESTABLISH A
MUNICIPAL PUBLIC IMPROVEMENT TAX INCREMENT
EQUIVALENT FUND FOR THE DEPOSIT OF THE REMAINDER
OF THOSE SERVICE PAYMENTS, SPECIFY THE PUBLIC
INFRASTRUCTURE IMPROVEMENTS TO BE MADE WITHIN
THE TIF AREA THAT DIRECTLY BENEFIT THOSE PARCELS,
AND TO DECLARE AN EMERGENCY.
