Explanation
Background: On August 29, 2008 the City entered into the Columbus Coated Fabrics Economic Development Agreement (EDA) with Wagenbrenner Development, Inc. to address the redevelopment of the site with housing, green space and improved roadways. On July 17, 2009 the City entered into the Columbus Coated Fabrics Design Agreement with Wagenbrenner Development, Inc. for the design of public roadway and infrastructure improvements on and around the site. The City has committed to funding the design and construction of street and utility improvements up to $12.85 million. The cost of design is $1,060,000.00. The cost of roadway improvements, including utility upgrades and inspection, will be $11,790,000. This legislation authorizes the expenditure of $6,760,000.00 from the 2009 Capital Improvements Budget for Grant Avenue improvements including construction inspection costs. Subsequent legislation will authorize the remaining construction of public improvements on the site from the 2010 Capital Improvements Budget.
Emergency Justification: Infrastructure and roadway improvements to Grant Avenue must be completed before March 31, 2010 in order to comply with funding requirements of the New Market Tax Credits.
Fiscal Impact: Funds are available in the 2009 Capital Improvements Budget under Streets & Highways G.O. Bonds, Gov'l Build America Bonds (B.A.B.s), and Sanitary B.A.B.s (Build America Bonds) Fund for construction and inspection. The Division of Power and Water's (Water) estimated share of this project is $1,300,00.00 and will be funded via transfer of funds within the Water Works Enlargement Voted Bonds Fund and the Water Build America Bonds Fund. An amendment to the 2009 Capital Improvements Budget is also necessary.
Title
To authorize the Directors of Public Service and Public Utilities to enter into a Guaranteed Maximum Reimbursement Agreement pursuant to Section 186 of the Columbus City Charter with Wagenbrenner Development, Inc. for the construction and inspection of public roadway and utility improvements on Grant Avenue on the Columbus Coated Fabrics site; to authorize the expenditures of $4,610,000.00 from the Streets & Highways G.O. Bonds Fund and the Gov'l Build America Bonds (B.A.B.s) Fund, $1,300,000.00 from the Water Works Enlargement Voted Bonds Fund and the Water Build America Bonds Fund, and $850,000.00 from the Sanitary B.A.B.s (Build America Bonds) Fund; to amend the 2009 Capital Improvements Budget; and to declare an emergency. ($6,760,000.00)
Body
WHEREAS, the City entered into an Economic Development Agreement (EDA) with Wagenbrenner Development, Inc. to address the redevelopment of the Columbus Coated Fabrics site through which the City agreed to fund up to $12.85 million in improved public roadways and utilities; and
WHEREAS, the City entered into a Design Agreement with the developer in order to complete the design of such public improvements; and
WHEREAS, the City must enter into a Guaranteed Maximum Reimbursement Agreement to fund construction of the public improvements to Grant Avenue; and
WHEREAS, subsequent legislation will authorize construction of the remaining public improvements on the site from the 2010 Capital Improvements Budget; and
WHEREAS, it is necessary for this Council to authorize the City Auditor to transfer funds within the Water Works Enlargement Voted Bonds Fund; and
WHEREAS, it is necessary to authorize an amendment to the 2009 Capital Improvements Budget for purposes of providing sufficient funding and expenditure authority for the aforementioned project expenditure; and
WHEREAS, an emergency exists in the usual daily operation of the Departments of Public Service and Public Utilities, in that it is immediately necessary to expend said funds thereby preserving the public health, peace, property, safety, and welfare; now, therefore
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the Directors of Public Service and Public Utilities be authorized to enter into a Guaranteed Maximum Reimbursement Agreement for $6,204,000.00 with Wagenbrenner Development, Inc. pursuant to Section 186 of the Columbus City Charrter for the purpose of constructing infrastructure and public roadway improvements on Grant Avenue on the Columbus Coated Fabrics site and to provide for construction inspection costs up to $556,000.00.
SECTION 2. That the City Auditor is hereby authorized to transfer $300,000.00 within the Division of Power and Water, Dept/Div. No. 60-09, Object Level One 06, Object Level Three 6629, as follows:
Fund No. | Project No. | Project Name | OCA Code | change
606 | 690451-100000 (carryover) | W. Broad St. W.M. | 690451 | -$197,411.06
606 | 690458-100000 (carryover) | Waggoner Rd. 30" W.M. | 690458 | -$21,125.66
606 | 690236-100009 (carryover) | Cols Coated Fabrics | 642900 | +$218,536.72
609 | 690026-100006 (new funding) | Indianola Trench Drain | 692606 | -$81,463.28
609 | 690236-100009 (new funding) | Cols. Coated Fabrics | 623609 | $+81,463.28
SECTION 3. That the City Auditor is hereby authorized to transfer cash and appropriation in the amount of $543,258.00 within the Division of Design and Construction, G.O. Bonds Fund, Dept-Div. 59-12, O.L 01-03 Codes 06-6631, as follows:
Transfer From
Fund / Dept-Div / Project # / Project / Object Level One-Object Level Three Codes / OCA Code / Amount
704 / 59-12 / 440104-100000 / Misc Economic Development-Cols Coated Fabric / 06-6631 / 591149 / $543,257.85
704 / 59-12 / 440005-100000 / UIRF / 06-6631 / 590050 / $0.15
Transfer to:
Fund / Dept-Div / Project # / Project / Object Level One-Object Level Three Codes / OCA Code / Amount
704 / 59-12 / 440104-100002 / Misc Economic Development-Cols Coated Fabric / 06-6631 / 592104 / $543,258.00
SECTION 4. That the 2009 Capital Improvements Budget is hereby amended due to encumbrance cancellations of completed projects as follows:
Fund No. | Project No. | Project Name | Current Authority | Revised Authority | change
704 | 440005-100000 | UIRF (Carryover) | $138,328.00 (Carryover) | $241,964.00 (Carryover) | $103,636.00 (Carryover)
SECTION 5. That the 2009 Capital Improvements Budget is hereby amended as follows:
Power and Water Division, Dept-Div 60-09:
Fund No. | Project No. | Project Name | Current Authority | Revised Authority | change
606 | 690451-100000 (carryover) | W. Broad St. W.M. | $299,429 | $102,017 | -$197,412
606 | 690458-100000 (carryover) | Waggoner Rd. 30" W.M. | $0 | $21,126 | +$21,126 (give enough authority for cash transfer)
606 | 690458-100000 (carryover) | Waggoner Rd. 30" W.M. | $21,126 | $0 | -$21,126
606 | 690236-100009 (carryover) | Cols. Coated Fabrics | $0 | $218,538 | +$218,538
609 | 690026-100006 (new funding) | Indianola Trench Drain | $100,000 | $18,536 | -$81,464
609 | 690236-100009 (new funding) | Cols. Coated Fabrics | $1,000,000 | $1,081,464 | +$81,464
Division of Design and Construction 59-12
Fund No. | Project No. | Project Name | Current Authority | Revised Authority | change
704 | 440005-100000 | UIRF (Carryover) | $241,964.00 (Carryover) | $241,963.00 (Carryover) | ($1.00) (Carryover)
704 | 440104-100001 | Misc Economic Development-Cols Coated Fabric | $543,258.00 (Carryover) | $0.00 (Carryover) | ($543,258.00)
704 | 440104-100002 | Misc Economic Development-Cols Coated Fabric | $0.00 (Carryover) | $543,259.00 (Carryover) | $543,259.00 (Carryover)
SECTION 6. That for the purpose stated in Section 1, the expenditure of up to $6,760,000.00 or so much thereof as may be needed (refer to chart attached to this legislation for construction and inspection breakdown), is hereby authorized to be expended as follows;
Fund / Dept-Div / Project # / Project / Object Level One-Object Level Three Codes / OCA Code / Amount
Division of Design and Construction 59-12
704 / 59-12 / 440104-100002 / Misc Economic Development-Cols Coated Fabric / 06-6631 / 592104 / $2,388,967.71
746 / 59-12 / 440104-100002 / Misc Economic Development-Cols Coated Fabric / 06-6631 / 746104 / $1,760,032.29
704 / 59-12 / 440104-100002 / Misc Economic Development-Cols Coated Fabric / 06-6687 / 592104 / $461,000.00
Division of Power and Water 60-09
606 / 60-09 / 690236-100009 (carryover) / Columbus Coated Fabric Water Line / 06-6629 / 642900 / $218,536.72
609 / 60-09 / 690236-100009 (new funding) / Columbus Coated Fabric Water Line / 06-6629 / 623609 / $1,081,463.28
Division of Sewerage and Drainage 60-05
668 / 60-05 / 650752-100000 / Columbus Coated Fabrics / 06-6621 / 664752 / $850,000
SECTION 7. 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 8. That the City Auditor is hereby authorized and directed to transfer any unencumbered balance in the project account to the unallocated balance within the same fund upon receipt of certification by the Director of the Department administering said project that the project has been completed and the monies no longer required for said project; except that no transfer shall be made from a project account by monies from more than one source.
SECTION 9. That the City Auditor is authorized to establish proper project accounting numbers as appropriate.
Section 10. That Searches in the Excluded Party List System (Federal) and the Findings for Recovery list (State) produced no findings against Wagenbrenner Development, Inc.
SECTION 11. 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 nor vetoes the same.