This ordinance establishes the Scioto Peninsula II Tax Increment Financing (TIF) district, providing a 100% exemption on property taxes for improvements for up to 30 years. The $120 million urban redevelopment project includes a 13-story tower featuring 250 multifamily units, 450 parking spaces, and a 35,000-square-foot grocery store. A portion of service payments will be allocated to Columbus City Schools, while the remaining will fund public infrastructure improvements.
This project supports Columbus’s 2022 Downtown Strategic Plan, creating modern housing and retail opportunities while funding necessary public infrastructure improvements.