Explanation
Background: This legislation authorizes the Director of the Department of Development to amend a professional services contract with Civil and Environmental Consultants for environmental clean up work at the Wheatland Avenue Property in the Hilltop Area. Ordinance No. 2007-2006 authorized the Director of the Development Department to enter into the agreement with Civil and Environmental Consultants for the environmental clean up work using a Clean Ohio Assistance Fund grant. It has been determined that additional funds are needed for the environmental clean up. The site requires asbestos removal, structural demolition and soil clean up to prepare the site for residential development.
This ordinance also authorizes the transfer, appropriation, and expenditure of $550,000.00 from the Special Income Tax Fund to provide funds to amend the contract with Civil and Environmental Consultants. The Special Income Tax transfer and appropriation is a temporary measure until the City sells notes or bonds for this project.
Emergency action is requested so that work may continue on the project.
Fiscal Impact: The Development Department received $4,500,000.00 in the 2007 Capital Improvement Budget for Housing Preservation projects. Bonds have yet to be sold; therefore, a transfer of cash from the Special Income Tax Fund is necessary. The total cost of this professional services contract is $1,300,00.00. Of this, $750,000 is from the Clean Ohio Assistance Fund grant and $550,000 is from the Housing Preservation Fund.
Title
To authorize and direct the City Auditor to transfer $550,000.00 from the Special Income Tax Fund to the Housing Preservation Fund; to authorize the Director of the Development Department to amend a contract with Civil and Environmental Consultants for environmental clean up work at the Wheatland Avenue Property in the Hilltop Area; to authorize the expenditure of $550,000.00 from the Housing Preservation Fund; and to declare an emergency. ($550,000.00)
Body
WHEREAS, the City of Columbus desires to amend an agreement with Civil and Environmental Consultants for environmental clean up work at the Wheatland Avenue property; and
WHEREAS, this site will be redeveloped as a residential site; and
WHEREAS, a transfer of funds from the Special Income Tax Fund is necessary to fund this project; and
WHEREAS, the City will sell notes or bonds to fund this project and will reimburse the Special Income Tax Fund the amount transferred, and
WHEREAS, the aggregate principal amount which the city will issue to finance this phase of the project is presently expected not to exceed $550,000.00; and
WHEREAS, an emergency exists in the usual daily operation of the Development Department, in that it is immediately necessary to authorize the Director of the Development Department to amend the contract with Civil and Environmental Consultants for environmental clean up work at the Wheatland Avenue property; now, therefore:
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the sum of $550,000.00 be and is hereby appropriated from the unappropriated balance of the Special Income Tax Fund, Fund 430, and from all monies estimated to come into said fund from any and all sources and unappropriated for any other purpose during the fiscal year ending December 31, 2007 to the City Auditor, Department 22-01, Object Level One 10, OCA Code 902023, Object Level Three 5502.
Section 2. That the City Auditor is hereby authorized to transfer said funds to the Housing Preservation Fund, Fund 782, at such time as is deemed necessary by the City Auditor, and to expend said funds, or so much thereof as may be necessary.
Section 3. That the amount of $550,000.00 is hereby transferred and appropriated to the Development Department, Housing Division 44-10, Housing Preservation Fund, Fund 782, Project No.782001 - Housing Preservation, Object Level Three Code 6621.
Section 4. That upon obtaining other funds for the Housing Preservation Project, the City Auditor is hereby authorized and directed to repay the Special Income Tax Fund the amount transferred under Section 2, above, and said funds are hereby deemed appropriated for such purpose.
Section 5. That the City Auditor is authorized to establish proper accounting project numbers, and to make any accounting changes to revise the funding source for any contract or contract modification associated with the expenditure of funds transferred in Section 2, above.
Section 6. The City intends that this ordinance constitute an "official intent" for purposes of Section 1.150-2(e) of the Treasury Regulations promulgated pursuant to the Internal Revenue Code of 1986, as amended.
Section 7. That the Director of the Development Department is hereby authorized to amend the contract with Civil and Environmental Consultants for environmental clean up work at the Wheatland Avenue property.
Section 8. That the expenditure of $550,000.00, or so much thereof that may be necessary in regard to the action authorized in Section 7, be and is hereby authorized and approved as follows:
Division: 44-10
Fund: 782
Project: 782001
Object Level 1: 06
Object Level 3: 6621
Amount: $550,000.00
Section 9. That for reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is hereby 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 days after passage if the mayor neither approves or vetoes the same.