Explanation
BACKGROUND: The purpose of this ordinance is to authorize an agreement between the Director of the Columbus Department of Development and the Ohio Department of Development to accept a $5,000,000.00 Job Ready Sites (JRS) grant for improvements at the TechCenter South site (formerly know as the Techneglas site) and to authorize any necessary agreements with the site owner, TechCenter South Development Co., LLC (an affiliate of Greystone & Co., Inc.) as the City's principle agent to facilitate site improvements under the said grant for redevelopment of the TechCenter South site.
Pursuant to Ordinance 1154-2007, passed by Columbus City Council on July 16, 2007, the Columbus Director of Development received authorization to enter into a partnership agreement with TG707, Inc. to apply for a $5,000,000.00 Ohio JRS grant for improvements at the former Techneglas site on Columbus' Southside at 707 Jenkins Avenue, for the redevelopment project known as TechCenter South. This ordinance was later amended, under Ordinance 0691-08, passed by Columbus City Council on April 21, 2008, to reflect the City of Columbus as the grant applicant in partnership with the TechCenter South Development Co., LLC; replacing TG707 Inc. as the appropriate legal entity with whom the City would enter into a development agreement.
The former Techneglas plant closed in 2004 and served as one of Columbus' major industrial employers for many years. The site has remained largely vacant since with approximately 48 acres and over 1 million square feet of re-developable space.
With the JRS grant, the City, in partnership with the TechCenter South Development Company will renovate the existing space and undertake site improvements to accommodate an anticipated employment potential of over 1,500 jobs.
FISCAL IMPACT: Funding is through the General Government Grant Fund. The City of Columbus will receive a Job Ready Sites grant of $5,000,000.00 to apply toward improvements to the TechCenter South site.
Title
To authorize the Director of the Department of Development to enter into an agreement with the Ohio Department of Development to accept a $5,000,000.00 Job Ready Sites grant for improvements at the TechCenter South site; to authorize the appropriation of $5,000,000.00 from the General Government Grant Fund; to authorize any necessary agreements with the site owner, TechCenter South Development Co., LLC, to facilitate site improvements under the said grant in partnership with the City of Columbus; and to authorize the expenditure of up to $5,000,000.00 from the General Government Grant Fund. ($5,000,000.00)
Body
WHEREAS, Ohio voters approved a $2 billion public works and economic development bond package on November 8, 2005; and
WHEREAS, the Ohio Job Ready Sites Program was created as a result of the aforementioned bond package, allowing for applications from Ohio communities for, but not limited to, infrastructure improvements, building demolition, construction and brownfield remediation; and
WHEREAS, the maximum amount that can be applied for under the Job Ready Sites Program is $5,000,000.00 and the City applied for a $5,000,000.00 Job Ready Sites grant to re-develop and improve the TechCenter site to accommodate an employment potential of over 1,500 jobs; and
WHEREAS, Ordinance 1154-07 granted authority to the Director of the Columbus Department of Development to enter into a partnership agreement with TG707, Inc to apply for the Job Ready Sites grant; and
WHEREAS, TechCenter South Development Co., LLC (an affiliate of Greystone & Co., Inc.) is now the appropriate legal entity to enter into a development partnership agreement with the City, as amended under Ordinance 0691-2008; and
WHEREAS, the City of Columbus, in partnership with TechCenter South Development Co., LLC, desire to restore the former Techneglas site to productive use; and
WHEREAS, the project grant application is approved by the Ohio Department of Development and Ohio Controlling Board for award of a Job Ready Sites grant for $5,000,000.00 to re-develop and improve the TechCenter South site;
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the Director of the Department of Development is hereby authorized to enter into an agreement with the Ohio Department of Development to accept a $5,000,000.00 Job Ready Sites grant for improvements at the TechCenter South site at 707 Jenkins Avenue on Columbus' Southside.
Section 2. That the sum of $5,000,000.00 be and is hereby appropriated from the unappropriated balance of the General Government Grant Fund, Fund 220, and from all monies estimated to come into said fund from any and all sources appropriated and unappropriated for any other purpose during the fiscal year ending December 31, 2008, to the Department of Development, Economic Development Division, Division Number 44-02, Object Level One 03, Object Level Three 3526, with the OCA and grant codes to be issued by the City Auditor upon award of said grant.
Section 3. That the Director of the Department of Development is hereby authorized to enter into any necessary agreements with the site owner, TechCenter South Development Company, LLC, to act as the City's principle agent to facilitate site improvements under the $5,000,000.00 Job Ready Sites grant for the TechCenter South site.
Section 4. That for the purpose stated in Section 3, the expenditure of up to $5,000,000.00 is hereby authorized from the General Government Grant Fund, Fund 220, Department of Development, Economic Development Division, Division No. 44-02, Object Level One 03, Object Level Three 3526, with the OCA and grant codes to be issued by the City Auditor upon award of said grant.
Section 5. That this Ordinance shall take effect and be in force from and after the earliest period allowed by law.