City of Columbus - File #: 1064-2011

• File #: 1064-2011
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 6/27/2011
• In control: Health, Housing & Human Services Committee
• On agenda: 7/11/2011
• Final action: 7/13/2011
• Title: To authorize the Director of the Department of Development to enter into a grant agreement with the Franklinton Development Association to provide funding for the acquisition of a warehouse located at 421-435 W. State St. as part of the redevelopment efforts for the Franklinton Creative Community District; to authorize and direct the City Auditor to transfer $900,000.00 from the Special Income Tax fund to the Northland and Other Acquisitions Fund; to authorize the City Auditor to appropriate $900,000.00 within the Northland and Other Acquisitions Fund; to authorize the Director of Development to expend $900,000.00 from the Northland and Other Acquisitions Fund; and to declare an emergency. ($900,000.00)

Date	Ver.	Action By	Action	Result
7/13/2011	1	CITY CLERK	Attest
7/12/2011	1	MAYOR	Signed
7/11/2011	1	Columbus City Council	Approved	Pass
7/11/2011	1	COUNCIL PRESIDENT	Signed
6/30/2011	1	Dev Drafter	Sent for Approval
6/30/2011	1	Auditor Reviewer	Reviewed and Approved
6/30/2011	1	CITY AUDITOR	Reviewed and Approved
6/30/2011	1	Dev Drafter	Sent for Approval
6/30/2011	1	CITY ATTORNEY	Reviewed and Approved
6/30/2011	1	Dev Drafter	Sent to Clerk's Office for Council
6/29/2011	1	FINANCE DIRECTOR	Reviewed and Approved
6/28/2011	1	Dev Drafter	Sent for Approval
6/28/2011	1	Finance Reviewer	Reviewed and Approved
6/28/2011	1	Finance Reviewer	Reviewed and Approved
6/27/2011	1	Dev Drafter	Sent for Approval
6/27/2011	1	DEVELOPMENT DIRECTOR	Reviewed and Approved

Explanation

BACKGROUND: This legislation authorizes the Director of the Department of Development to enter into an agreement with the Franklinton Development Association (FDA), a non profit 501 c 3 organization. The funds provided by the agreement will be used to undertake the acquisition of a warehouse located at 421-435 W. State St. as part of the redevelopment efforts for the Franklinton Creative Community District. The FDA currently facilitates the production of affordable housing and the enhancement of home ownership and rental opportunities in the Franklinton neighborhood. This legislation authorizes the expenditure of $900,000 to the FDA for the acquisition of the warehouse to convert the building to residential uses, as well as, to enhance neighborhood revitalization activities.

Emergency action is necessary to allow for the FDA to immediately begin the acquisition process.

FISCAL IMPACT: Funding authority is available in the 2011 Capital Improvements Budget in the Northland and Other Acquisitions Fund 735. The maximum amount of the grant provided within the grant agreement authorized to be expended by this ordinance is $900,000. Bonds have yet to be sold for the project, necessitating a certification of $900,000.00 against the Special Income Tax Fund. Upon sale of bonds, this will be reimbursed.


Title

To authorize the Director of the Department of Development to enter into a grant agreement with the Franklinton Development Association to provide funding for the acquisition of a warehouse located at 421-435 W. State St. as part of the redevelopment efforts for the Franklinton Creative Community District; to authorize and direct the City Auditor to transfer $900,000.00 from the Special Income Tax fund to the Northland and Other Acquisitions Fund; to authorize the City Auditor to appropriate $900,000.00 within the Northland and Other Acquisitions Fund; to authorize the Director of Development to expend $900,000.00 from the Northland...