Explanation
BACKGROUND: This legislation authorizes the Director of the Department of Development to enter into contract with the Business Technology Center (BTC) in the amount of $29,000. These funds will support the business formation and technology initiatives driven by TechColumbus.
The BTC is a "one-stop" operation for new business start-ups in central Ohio and Columbus. During its 20 years of operation, the BTC has graduated 60 companies, with 75 percent of these businesses still in operation. The success of BTC companies resulted in the creation of more than 250 new jobs in information technology, biosciences and advanced materials. These jobs bring an estimated $250,000 in new income tax per year. In the last four years more than $30 million was invested in BTC client companies to spur their growth and development.
The City does not have the in-house capacity to provide this service, a service that requires a high degree of technical specialization.
Emergency action is requested to allow these vital program services to continue without interruption.
FISCAL IMPACT: The 2005 General Fund Budget appropriated $92,464.00 for support of technology agencies. $62,892 of this amount was authorized by Ordinance No. 1765-2005 for The Science and Technology Campus Corporation (SCITECH).
Title
To authorize the Director of the Department of Development to enter into contract with the Business Technology Center; to authorize the expenditure of $29,000.00 from the General Fund; and to declare an emergency. ($29,000.00)
Body
WHEREAS, the Director of the Department of Development desires to enter into contract with the Business Technology Center to support the Business Formation and Technology Initiatives being driven by TechColumbus; and
WHEREAS, the BTC is a "one-stop" operation for new business start-ups in central Ohio and Columbus; and
WHEREAS, the Business Technology Center accelerates the formation of investable, sustainable technology-based businesses by providing qualified entrepreneurs with the specialized infrastructure, guidance and networking contacts necessary to launch and realize their vision; and
WHEREAS, an emergency exists in the usual daily operation of the Development of Department, in that it is necessary to immediately authorize the Development Director to enter into contract with the Business Technology Center to allow vital program services to continue without interruption, thereby preserving the public health, peace, property, safety, and welfare; and NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the Director of the Department of Development be and is hereby authorized to enter into contract with the Business Technology Center to support the business formation and technology initiatives being driven by TechColumbus.
Section 2. That this contract is awarded in accordance with Chapter 329.15 of the Columbus City Codes, 1959, as amended.
Section 3. That the expenditure of $29,000.00 or so much thereof as may be necessary, be and is hereby authorized to be expended from the General Fund, Department of Development, Department No. 44-02, Fund 010, Object Level One 03, Object Level Three 3336, OCA Code 440314.
Section 4. That for the 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.