Columbus City School District Board of Education v. Zaino

In 1986, the city of Columbus passed Ordinance 1891-86 authorizing the mayor to enter into an agreement with appellant, 1-670 Corridor Development Corporation (“1-670”), designating 1-670 “an agency and instrumentality for economic development including land use planning and marketing strategy,” for a designated area. 1-670 is a private, not-for-profit corporation under R.C. Chapter 1702, and a 501(c)(3) corporation under the Internal Revenue Code.

*4971-670 and the city entered into a loan agreement in 1990 whereby the city loaned 1-670 money to purchase property for a mixed-use business park.…