Explanation
Background: On October 3, 2012, City Council passed Ordinance 1968-2012 which established the Columbus Next Generation Corporation; a nonprofit development corporation for the purpose of advancing, encouraging and promoting industrial, economic and commercial development in the City of Columbus and named the City of Columbus as the sole member of the entity. This corporation is charged with eliminating blight and creating job opportunities. This ordinance seeks authorization to establish a contract, in the amount of $500,000, with Columbus Next Generation Corporation for this purpose.
Emergency action is requested so that contracting can commence and the contractor can be engaged in economic development activities as quickly as possible.
Columbus Next Generation Corporation, Contract Compliance Number: 46-26212229
Fiscal Impact: Funding for this contract ($500,000.00) is budgeted within the 2014 General Fund operating budget.
Title
To authorize the Director of the Department of Finance and Management to enter into contract with Columbus Next Generation Corporation to provide support for services which advance economic development initiatives in specific areas of the city; to authorize the expenditure of $500,000.00 from the General Fund; and to declare an emergency. ($500,000.00)
Body
WHEREAS, Ordinance 1968-2012, passed by City Council on October 10, 2012 authorized the Mayor of the City of Columbus to create and establish a nonprofit corporation to advance, encourage and promote industrial, economic and commercial development as well as eliminate blight and create jobs; and
WHEREAS, the city registered with the Ohio Secretary of State to create the Columbus Next Generation Corporation on October 10, 2012; and
WHEREAS, Columbus Next Generation Corporation will perform a variety of services to advance economic development, including but not limited to; creation of economic development plans for specific areas of the city, develop and promote incentives, including the use of the city's telecommunications, fiber, and broadband network, acquire and develop real estate, and manage various related projects; and
WHEREAS, an emergency exists in the usual daily operations of the City in that it is immediately necessary to contract with Columbus Next Generation Corporation to continue redevelopment efforts in the City , thereby preserving the public health, peace, property, safety and welfare; Now, Therefore:
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS, OHIO:
SECTION 1. That the Director of the Department of Finance and Management is authorized to enter into a contract with the Columbus Next Generation Corporation for activities associated with advancing industrial, economic and commercial development in the City of Columbus.
SECTION 2. That the expenditure of $500,000.00, or so much thereof as may be necessary in regard to the action authorized in Section 1, be and is hereby authorized from the General Fund as follows:
Dept/Div: 45-50
Fund: 10
OCA Code: 450035
Object Level One: 03
Object Level Three: 3336
Amount: $500,000.00
SECTION 3. That this contract is awarded pursuant to Section 329.15 of the Columbus City Code.
SECTION 4. That the funds necessary to carry out the purpose of this ordinance are hereby deemed appropriated, and the City Auditor shall establish such accounting codes as necessary.
SECTION 5. That the City Auditor is authorized to make any accounting changes to revise the funding source for all contracts or contract modifications associated with this ordinance.
SECTION 6. That for the reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is declared to be an emergency measure and will take effect and be in force from and after its approval by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes the same.