Explanation
BACKGROUND:
This legislation authorizes the Director of Public Utilities to enter into a maximum reimbursement agreement with the Columbus Downtown Development Corporation (CDDC) for the Scioto Greenways Project. The Scioto Greenways Project involves the removal of the Main Street dam, the restoration of the Scioto River, construction of several park improvements, and the related utility and bridge improvements along both sides of the Scioto River between the confluence of the Scioto River and the Olentangy River to a distance of approximately 800 feet south of the current Main Street dam.
The Columbus Downtown Development Corporation (CDDC), which is a private, 501(c) (3) not-for-profit corporation, is governed by a 15-member board of directors, of whom 14 are appointed by the Mayor of Columbus with the confirmation of the Columbus City Council, and one is appointed by Franklin County. The CDDC is sustained by annual financial commitments of each board member, as well as the City of Columbus and Franklin County. Moreover, the CDDC will continue to forge public-private partnerships so that limited public dollars will leverage more substantial private sector investments. The CDDC is responsible for implementing those ideas put forth in the Mayors Strategic Business Plan for Downtown Columbus, modifying the plan as necessary in response to changes in circumstance, need, and policy leadership over time and broadening and maintaining support for the plan.
It is anticipated that a future appropriation by Columbus City Council is required to fund the construction portion of this project. These additional costs cannot be quantified at this time until evaluations are completed and final plans and construction estimates are completed.
FISCAL IMPACT:
This ordinance authorizes the Director of Public Utilities to enter into a maximum reimbursement agreement for a total $236,311.00 with the Columbus Downtown Development Corporation (CDDC) for the Scioto Gr...
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