City of Columbus - File #: 1066-2011

• File #: 1066-2011
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 6/27/2011
• In control: Development Committee
• On agenda: 7/11/2011
• Final action: 7/13/2011
• Title: To authorize the expenditure of $323,682.36 pursuant to the Capital Improvement Project Development and Reimbursement Agreement for the Nationwide Arena District previously authorized by Ordinance No. 2202-98; and to declare and emergency. ($323,682.36)

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 to Clerk's Office for Council
6/29/2011	1	City Clerk's Office	Sent back for Clarification/Correction
6/28/2011	1	Dev Drafter	Sent for Approval
6/28/2011	1	Auditor Reviewer	Reviewed and Approved
6/28/2011	1	CITY AUDITOR	Reviewed and Approved
6/28/2011	1	Dev Drafter	Sent for Approval
6/28/2011	1	CITY ATTORNEY	Reviewed and Approved
6/28/2011	1	Dev Drafter	Sent to Clerk's Office for Council
6/27/2011	1	Dev Drafter	Sent for Approval
6/27/2011	1	DEVELOPMENT DIRECTOR	Reviewed and Approved
6/27/2011	1	Dev Drafter	Sent for Approval
6/27/2011	1	Finance Reviewer	Reviewed and Approved
6/27/2011	1	Finance Reviewer	Reviewed and Approved
6/27/2011	1	FINANCE DIRECTOR	Reviewed and Approved

Explanation

Background: This ordinance is a companion to Ordinances No. 2202-98, No. 0295-99, No. 1500-01, No. 0542-05, and No. 0581-05. These earlier ordinances authorized the reimbursement agreements and expenditures to date related to the Capital Improvement Project Development and Reimbursement Agreement for Nationwide Arena District. The maximum reimbursement under this agreement is $18,753,000.00 plus City inspection fees.

The agreement called for limitations on expenditures in three categories plus City inspection fees. The current status of these expenditures is:

· $16,610,000.00 authorized and expended for infrastructure (streets) completed in 2005.
· $143,000.00 authorized for a traffic study of which $127,051.68 has been expended and completed in 1999.
· An amount not to exceed $2,000,000.00 for land remediation within the District of which $550,176.80 has been expended. This ordinance will authorize an additional $323,682.36 (as part of the $2,000,000.00) to be expended.
· The City also expended $934,641.20 for inspection fees.
· This ordinance does NOT change the amount of the original agreement.

Fiscal Impact: $323,682.36 will be authorized and expended for capital projects previously approved by Council. Monies for this expenditure will come from currently existing capital funds.


Title

To authorize the expenditure of $323,682.36 pursuant to the Capital Improvement Project Development and Reimbursement Agreement for the Nationwide Arena District previously authorized by Ordinance No. 2202-98; and to declare and emergency. ($323,682.36)


Body

WHEREAS, Council previously authorized the City's Director of Trade and Development to enter into the Capital Improvement Project Development and Reimbursement Agreement for Nationwide Arena District (the Agreement) via Ordinance No. 2202-98, and

WHEREAS, the Agreement calls for the City to expend/reimburse the maximum amounts, collectively not to exceed $16,610,000 for in...