Explanation
This ordinance authorizes the City Clerk to enter into a grant agreement with Urban Land Institute (ULI) Columbus in support of the organization’s Real Estate Development Program, or REDI.
REDI is a comprehensive, 12-session curriculum designed to advance the real estate careers of emerging developers and traditionally underrepresented groups. Participants step into the role of a real estate developer, gaining direct knowledge and experience working in teams to produce a development plan, pro-forma, and marketing plan for a real project. Participants are taught by a volunteer faculty of experienced, multidisciplinary, top-tier practicing real estate professionals serving as instructors, mentors and facilitators who share market-based knowledge and the wisdom from their experience. The program concludes with REDI teams presenting their proposals to a panel of real estate professionals who engage the participants and provide constructive feedback.
This ordinance also authorizes funds to be advanced to Urban Land Institute Columbus in order for the organization to acquire the resources necessary to execute the program. Furthermore, ULI Columbus intends to distribute food and beverages to attendees participating in the curriculum, which Council deems to serve a public purpose in that it is necessary to accommodate attendees’ dietary needs.
Fiscal Impact: Funds are available within the Neighborhood Initiatives subfund.
Emergency action is requested in order to immediately provide the necessary resources to ULI Columbus to initiate the program without delay.
Title
To authorize the City Clerk to enter into a grant agreement with Urban Land Institute (ULI) Columbus in support of the organization’s Real Estate Development Program; to authorize an expenditure within the Neighborhood Initiatives subfund; to authorize the payment of reasonable food and non-alcoholic beverage expenses; and to declare an emergency. ($25,000.00)
Body
WHEREAS, REDI is a comprehensive, 12-session curriculum designed to advance the real estate careers of emerging developers and traditionally underrepresented groups; and
WHEREAS, Participants are taught by a volunteer faculty of experienced, multidisciplinary, top-tier practicing real estate professionals serving as instructors, mentors and facilitators who share market-based knowledge and the wisdom from their experience; and
WHEREAS, an emergency exists in the usual daily business of the city in that it is immediately necessary to authorize a grant agreement with ULI Columbus in order to initiate the program without delay; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the City Clerk is hereby authorized and directed to enter into a grant agreement with Urban Land Institute (ULI) Columbus in support of the organization’s Real Estate Development Program, and that funding shall be advanced to Urban Land Institute (ULI) Columbus prior to the initiation of programming.
SECTION 2. That for the purpose as stated in Section 1, the expenditure of $25,000.00, or so much thereof as may be necessary, is hereby authorized in fund 1000 (General Fund), subfund 100018 (Neighborhood Initiatives) per the accounting codes in the attachment to this ordinance.
SECTION 3. That the distribution of food and beverages associated with the execution of this grant agreement are deemed to be for a public purpose. Food and beverage costs are authorized in an amount not to exceed the per-person, per-meal costs under the applicable per diem by meal established by location as set by the Federal General Services Administration.
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 hereby declared to be an emergency measure and shall 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.