Explanation
BACKGROUND: The City of Columbus desires to establish a Nonprofit Development Corporation for the purpose of advancing, encouraging and promoting the industrial, economic, commercial development including the elimination of blight and creation of job opportunities pursuant to O.R.C. 1702.01-99.
The purpose of this legislation is to authorize the establishment of a non-profit development corporation and to name the City of Columbus as the sole member of the entity.
The legislation is requested to be considered as an emergency in that this Ordinance is required to be immediately effective in order to successfully establish the corporation and begin facilitating redevelopment throughout the City of Columbus, such immediate action being necessary for the preservation of the public health, peace, property and safety.
FISCAL IMPACT: No funding is required for this legislation.
Title
To authorize and direct the Director of the Department of Development to establish a Nonprofit Development Corporation for the purpose of advancing, encouraging and promoting the industrial, economic, commercial development including the elimination of blight and creation of job opportunities and to name the City of Columbus as the sole member of the entity; and to declare an emergency.
Body
WHEREAS, a Nonprofit Development Corporation may be established for purposes of advancing, encouraging and promoting the industrial, economic, commercial and civic development of a community or area O.R.C. 1702.01-99.; and
WHEREAS, the City of Columbus wishes to establish a Nonprofit Development Corporation within the City of Columbus; and
WHEREAS, the purpose of this legislation is to authorize the establishment of a non-profit development corporation and to name the City of Columbus as the sole member of the entity; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development in that it is immediately necessary to successfully establish the corporation and begin facilitating redevelopment throughout the City of Columbus, such immediate action being necessary for the preservation of the public health, peace, property and safety; and NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the Director of Development is hereby authorized and directed to take such actions as necessary to establish a Nonprofit Development Corporation that names the City of Columbus as the sole member of the entity.
Section 2. For the reasons stated in the preamble hereto, which is made a part hereof, this Ordinance is declared to be an emergency measure and shall take effect and be in force from and after its passage and approval by the Mayor, or ten (10) days after passage if the Mayor neither approves nor vetoes this Ordinance.