A petition-driven charter amendment ruled unconstitutional in federal court will cost the city of Powell and its insurer $1.8 million.
According to a news release from the city, Powell will cover $950,000 of the settlement, while Great American Insurance Group will pay for the remainder.
CV Real Property sued the city in 2014 after city voters approved a charter amendment banning “high-density housing” in the city’s Downtown Business District. The amendment also included a specific provision blocking the development of CV Property’s planned 64-unit apartment and retail complex known as the Center at Powell Crossing.
Powell City Council previously had approved the plans for the 8.3-acre site at 147 W. Olentangy St.
U.S. District Judge James L. Graham in March 2016 ruled in the developer’s favor, “(invalidating) the charter amendment in its entirety.” The court also ruled the developer was entitled to damages and attorney fees.
According to the news release, the settlement resolves all claims in the case and compensates the firm for delaying the construction of the Center at Powell Crossing.