Explanation
BACKGROUND:
This legislation authorizes the Director of Development to enter into an agreement with the Columbus Downtown Development Corporation (CDDC). Under this agreement the CDDC will implement and oversee downtown development projects and programs as well as forge public-private partnerships with the goal of generating private investment for downtown.
FISCAL IMPACT:
This legislation authorizes the appropriation of $114,810.00 from the Capital South Fund to provide funds to enter into an agreement with the Columbus Downtown Development Corporation.
Title
To authorize the appropriation of $114,810.00 from the Capital South Fund; to authorize the Director of the Department of Development to enter into an agreement with the Columbus Downtown Development Corporation; and to authorize the expenditure of $114,810 from the Capital South Fund. (114,810.00)
Body
WHEREAS, the Director of the Department of Development desires to enter into an agreement with the Columbus Downtown Development Corporation; and
WHEREAS, under this agreement the Columbus Downtown Development Corporation will implement and oversee downtown development projects and programs as well as forge public-private partnerships with the goal of generating private investment for downtown; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That from the unappropriated monies in the fund known as the Capital South Fund the sum of $114,810.00 be and is
hereby appropriated to the Department of Development, Division No. 44-01, Fund No. 481, Object Level One 03, Object Level Three 3336, OCA Code 441481.
Section 2. That the Development Director is hereby authorized to enter into an agreement with the Columbus Downtown Development Corporation in order to implement and oversee downtown development projects and programs as well as forge public-private partnerships with the goal of generating private investment for downtown.
Section 3. That the expenditure of $114,810.00, or so much thereof as may be necessary, from the Department of Development, Downtown Development Office, Division 44-01, Capital South Fund, Fund 481, OCA Code 441481, Object Level One 03, Object Level Three 3336 for the aforesaid purpose is hereby authorized.
Section 4. That this contract is awarded pursuant to Section 329.15 of the Columbus City Codes, 1959, as amended.
Section 5. That this ordinance shall take effect and be in force from and after the earliest period allowed by law.