Explanation
On September 12, 2005, the Mid-Ohio regional Planning Commission (MORPC) accepted Ohio Public Works Commission (OPWC) Round 20 applications for the Local Transportation Improvement Program (LTIP) and State Capital Improvement Program (SCIP). by ordinance 1168-2005, passed by City Council on July 20, 2005, an application was submitted and SCIP funding was awarded to the City for grant/loan assistance for the Main Street Bridge replacement project. OPWC is required to award a minimum of 20% of SCIP funding as a no interest 20 year loan. OPWC requires that a designated official be authorized to execute project agreements for approved projects. Additionally, OPWC requires that a Chief Finance Officer certifies the ability to fund the City's portion of the project.
At the time of the application, it was unknown if the LTIP (grant only) or SCIP (loan and grant combination) would be awarded. Because the loan oriented SCIP funds were awarded, this legislation is necessary to amend Ordinance 1168-2005 to allow the Finance and Management Director to sign for funding use certification local match availability, and to certify loan portion repayment, and it will reaffirm the public Service Director's authority to execute the project agreement and apply for a loan for the Main Street Bridge project. Additionally, the amendment will allow the City Auditor to certify the City's portion of the funding for the project.
Fiscal Impact: On December 15, 2005, the District 3 Public Works Integrating Committee (PWIC) took final action to award $19.6 million to ten Round 20 project applicants, one of which was for the City of Columbus Main Street Bridge project in the form of a grant for $3,904,045 and a 20 year, no interest loan for $1,308,299 for a sum total of $5,212,344. After money from the grant portion of the award is expended the loan portion may then be utilized as needed. Therefore, the net impact of this legislation will allow for a $1,308,299 loan to provide necessary leverage for the grant dollars under the SCIP program.
Emergency action is requested to meet the September 14, 2006 deadline to sign the project agreement.
Title
To amend Ordinance 1169-2005 to authorize the Finance and Management Director to certify loan repayments by signing the promissory note to OPWC for $1, 308,299 on behalf of the City of Columbus for the Main Street Bridge replacement project, to authorize the Public Service Director to execute the OPWC project agreement and to borrow $1,308,299 from OPWC for the purpose of Main Street Bridge construction, and to declare an emergency.
Body
WHEREAS, the Ohio Public Works Commission requires that the City of Columbus designate and authorize officials to execute project agreements for Local Transportation Improvement and State Capital Improvement Programs; and
WHEREAS, the Transportation Division has been awarded a $3,904,045 grant and a no interest loan for $1,308,299 for a sum total of $5,212,344 from Ohio Public Works Commission funds for the Main Street Bridge replacement project; and
WHEREAS, an emergency exists in the usual daily operation of the Transportation Division Public Service Department, in that it is immediately necessary that the Finance and Management Director and City Auditor be authorized to sign financial documents and to reaffirm the Public Service Director's authority to execute project agreements in order to meet the September 14, 2006, project agreement submittal deadline, 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 Ordinance 1168-2005 be and hereby is amended in title and in body as follows:
To authorize the Public Service Director to submit applications for Round 20 of the Local Transportation Improvement Program and State Capital Improvement Program and to execute project agreement and loan application forms for approved projects for the Transportation Division on behalf of the City of Columbus and to declare an emergency, and that the Finance and Management Director and City Auditor are authorized to sign loan documents and a promissory note for $1,308,299 to certify funding for the City's SCIP loan portion of the Main Street Bridge project.
Section 2. That the Public Service Director be and is hereby authorized to submit applications, loan documents and execute project agreements with the Ohio Public Works Commission on behalf of the City of Columbus Transportation Division for the Local Transportation Improvement Program and State Capital Improvement Program projects and now therefore because of the City of Columbus has been awarded the funs in part grant and part loan that the Finance and Management Director and City Auditor are authorize to sign documents and a promissory note for $1,308,299 to certify funding for the City's SCIP loan portion of the Main Street Bridge project.
Section 3. That for the reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is hereby declare 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.