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HBAC #101: Bread and Butter

HBAC #101: Bread and Butter

Published 1 year, 1 month ago
Description

Jordan, Kevin and Tim convene for an update-heavy episode, covering city council developments, school funding concerns at the state level, and reflections on recent interviews with Jay Timmons (National Association of Manufacturers) and John Bair (Converge Technologies).

City Council Updates

Kevin recaps a lengthy Monday (3/10) night city council meeting focused on zoning, annexation, and infrastructure concerns:

* Hill Farm 2 Development: A proposed residential expansion west of Hilliard (231 acres) drew significant public feedback, particularly about stub roads opening into existing neighborhoods. City Engineer Letty Schamp explained the history of these eventual planned connections. The next reading is scheduled for March 24.

* Wolpert Property Rezoning: Approved after a second reading. This purchase and zoning will set the stage for a tech-focused industrial park near Britton Farms.

* Sunrise Academy Annexation Request: The private school’s expansion plans on Cosgray Road remain in limbo as council seeks a more concrete development plan before approving annexation.

* Water & Sewer Tap Allocations: Council formalized a policy on Columbus-allocated tap limits, impacting future developments, including Hill Farm 2.

Legal & Real Estate Insights

Jordan digs into some new updates on the Britton Parkway Holdings / Noor Islamic Cultural Center’s legal dispute with the city over the BMW property. Drawing on analysis and statements from attorneys Christopher Burch and Nathan Painter, the pod breaks down some key real estate terms and issues:

* Deed-in-Lieu: According to statements from both attorneys, Noor acquired the promissory note (and mortgage rights) at auction. Then, via a financial maneuver akin to taking over an existing mortgage rather than a traditional purchase, both parties avoided foreclosure sale complexities.

* Arm’s-Length Sale: According to Attorney Burch, one aspect of the legal test now before the Board of Revision will be whether BPH/Noor’s acquisition qualifies as a sale of this type between “disinterested” buyer and a seller without “compulsion or duress.”

* Property Tax Challenge: BPH is disputing the currently assessed value (27mil+) and asking for a revision down to 2.75mil - reflecting their claim of a distressed environment for Class-A office space and the auction price.

School Funding & State Budget Concerns

Hilliard City Schools sent out a call to action regarding state funding formulas. Jordan does his best unpacking the budget mechanics:

* The Fair School Funding Plan has been struggling with voucher expansion and inflationary base costs not being fully factored in.

* Without adjustments, Hilliard could ‘lose’ $12.5M from Fiscal Year ‘26 through FY’29, affecting district stability.

* The district urges residents to contact state legislators (Lett, Cockley, Russo, Reynolds, Liston, DeMora) to advocate for full funding adjustments.

* You can see the full text of the email from Treasurer Swearingen and Superintendent Stewart (along with representative contact information) towards the end of our piece here.

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