Explanation
BACKGROUND: This legislation authorizes the Director of the Department of Development to modify a contract with Columbus Housing Partnership, Inc. dba Homeport by increasing the amount of debt forgiveness from Four hundred twenty nine thousand three hundred thirty four and 19/100 dollars ($429,334.19) as approved in ordinance 2535-2013 to Four hundred sixty seven thousand six hundred ninety five and 65/100 dollars ($467,695.65).
FISCAL IMPACT: No fiscal impact. No additional funds are required for this legislation.
Title
To authorize the Director of the Department of Development to modify a contract with Columbus Housing Partnership, Inc. dba Homeport to increase the amount of debt forgiveness from Four hundred twenty nine thousand three hundred thirty four and 19/100 dollars ($429,334.19) to Four hundred sixty seven thousand six hundred ninety five and 65/100 dollars ($467,695.65); and to declare an emergency.
Body
WHEREAS, the Director of the Department of Development desires to modify a contract with Columbus Housing Partnership, Inc. dba Homeport by increasing the amount of debt forgiveness from Four hundred twenty nine thousand three hundred thirty four and 19/100 dollars ($429,334.19) to Four hundred sixty seven thousand six hundred ninety five and 65/100 dollars ($467,695.65); and
WHEREAS, this modification will allow Columbus Housing Partnership, Inc. dba Homeport to close out the escrow account from the sale of the Stoddart Block property; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development that it is immediately necessary to modify said contract with Columbus Housing Partnership, Inc. dba Homeport to allow the escrow account to be closed, all for the immediate preservation of the public health, peace, property, safety, and welfare; now, therefore,
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 modify a contract with Columbus Housing Partnership, Inc. dba Homeport by increasing the amount of debt forgiveness from Four hundred twenty nine thousand three hundred thirty four and 19/100 dollars ($429,334.19) as approved in ordinance 2535-2013 on November 11, 2013 to Four hundred sixty seven thousand six hundred ninety five and 65/100 dollars ($467,695.65).
Section 2. That for reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is declared to be an emergency measure and shall take effect and be in force from and after its adoption and approval by the Mayor, or ten days after adoption if the Mayor neither approves nor vetoes the same.