Explanation
1. BACKGROUND
This ordinance authorizes the Director of Public Service to transfer funding from the Streets and Highways Bond Fund to the General Government Grants Fund.
Ordinance 0780-2018 authorized the Director of Public Service to enter into a Construction Guaranteed Maximum Reimbursement Agreement with OhioHealth Corporation (the “Developer”) for the construction of the OhioHealth Boulevard project in an amount up to $1,500,000.00. Pursuant to Ordinance 3076-2017, the City accepted a $1,000,000.00 grant from the Roadwork Development (629) account of the Ohio Development Services Agency and a $500,000.00 grant from the Ohio Department of Transportation for costs associated with the construction of the project.
The project has been completed. Final accounting reconciliation determined the need to transfer funding from the Streets and Highways Bond Fund to the General Government Grants Fund to account for city match above the original grant amount.
2. FISCAL IMPACT
Funds in the amount of $675,464.60 are available for transfer from Fund 7704, the Streets and Highways Bond in P440104-100000 (Misc Economic Development-Hamilton Parker), P530804-100000 (Parsons Ave Streetscape), and P530805-100000 (Main Street Neighborhood Signage) to Fund 2220, the General Government Grants Fund, G441800 (OhioHealth Blvd Roadwork Dev Grant 629) and G441801 (OhioHealth Olentangy RR JCED). Funds are appropriated.
Title
To authorize the City Auditor to transfer funds between the Streets and Highways Bond Fund and General Government Grants Fund in connection with the OhioHealth Boulevard project. ($675,464.60)
Body
WHEREAS, the City of Columbus Department of Public Service has completed the OhioHealth Boulevard project; and
WHEREAS, General Government Grants Funds were used to pay for a portion of this project; and
WHEREAS, there is a remaining cash deficit in the General Government Grants Fund; and
WHEREAS, a reconciliation determined funds in the amount o...
Click here for full text