Explanation
Background: This ordinance authorizes the Finance and Management Director to acquire property, on behalf of the Department of Public Utilities, consisting of approximately 160.881+/- acres located at 433 London Groveport Road, adjacent to the Parsons Avenue Water Plant, and further identified as Franklin County Tax Parcel 495-232643. The site will serve as an additional water source for the Plant.
This legislation authorizes the Director of Finance and Management to execute those documents necessary to purchase the real property from Columbus Limestone Inc. and authorizes a transfer and expenditure of funds in an amount up to One Million Four Hundred Forty Eight Thousand and 00/100 Dollars ($1,448,000.00) for payment of all costs associated with the acquisition of the real property.
Fiscal Impact: Funding of $1,448,000.00 is budgeted and available within the Water G.O. Bonds Fund to pay costs associated with the acquisition.
Emergency Justification: Emergency action is requested to allow for the immediate execution of the purchase agreement by the City so that the acquisition can proceed without delay in agreement with the closing transaction deadlines and other terms of the purchase agreement in order to secure the real property for the Department of Public Utilities, Division of Water uses.
Title
To authorize the Director of Finance and Management to execute those documents necessary to acquire fee simple title and lesser interests to real property located at 433 London Groveport Road and further identified as Franklin County Tax Parcel 495-232643, to authorize the City Auditor to transfer up to $1,076,000.00 within CIP Projects within the Water G.O. Bonds Fund and to authorize the expenditure of up to $1,448,000.00 from the Water G.O. Bonds Fund; and to declare an emergency. ($1,448,000.00).
Body
WHEREAS, the City of Columbus Department of Finance and Management, on behalf of the Department of Public Utilities, desires to enter ...
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