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Redevelopment Commission Approves Payments

The Columbus Redevelopment Commission voted Monday night to retain a pair of individuals already under contract. Jayne Farber will continue to serve as the lead project consultant of the Arts District. The body also voted to enter into a contract with Stan Gamso as legal counsel for the Redevelopment Commission.

The commission also approved a resolution to make a $125,000 payment to Cummins. This is the first of four annual payments on an interest free loan the company provided the city in 2011 for the construction of The Commons.

The Redevelopment Commission also approved a resolution to make a payment of $60,000 to Buckingham, the developer of The Cole apartment complex downtown. This payment was originally supposed to be $300,000 according to an agreement the developer signed with the now defunct Columbus Downtown, Inc. (CDI). In that agreement, CDI, which was supposed to be a separate entity from the city of Columbus, obligated the city to a $300,000 payment to Buckingham to lure the developer to build the complex.

After a protracted battle between a newly elected city government and Buckingham, an agreement was reached that will have the city pay the $300,000 over five years with no interest. When that agreement was reached, city officials said a court battle could result in the loss of the case, as well as thousand of dollars in legal fees.

Last Updated: Wednesday, December 18, 2013 7:03:54 AM

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