Explanation
Background: This legislation authorizes the appropriation and expenditure of up to $552,000.00, and it authorizes the Director of the Department of Development to enter into a grant agreement with the Columbus-Franklin County Finance Authority (“CFCFA”) in the amount of up to $4,552,000.00 ($4,000,000.00 from Ordinance No. 1861-2026) to provide gap funding for urban redevelopment projects. Ordinance No. 1861-2026 approved by City Council on June 22, 2026 authorized gap funding to CFCFA for projects within the City of Columbus’ urban core and adjacent neighborhoods in order to facilitate projects that will assist in the revitalization of properties, but prior to implementing that ordinance, it was determined that the additional funding herein was necessary for a project. This legislation represents an additional up to $552,000.00 for a total up to $4,552,000.00. The CFCFA will help fill funding gaps for the redevelopment of denser projects in traditional neighborhood corridors. Urban redevelopment projects often encounter issues not experienced by new build projects or projects not built on undeveloped land (e.g. older buildings have amplified costs to bring it up to current code and safety standards). Grant funding will be advanced to CFCFA to fund these projects.
EMERGENCY DESIGNATION: An emergency exists to allow the intended urban redevelopment projects to close on financing at the most advantageous interest rates to minimize overall project costs to the City.
Fiscal Impact: Funding in an amount up to $552,000.00 is available within the Department of Development’s Westside Community Fund, Fund 2276.
CONTRACT COMPLIANCE: The vendor number is 009436 and expires January 06, 2028.
Title
To authorize the appropriation in an amount up to $552,000.00 in the Westside Community Fund; to authorize the Director of the Department of Development to enter into a grant agreement with Columbus-Franklin County Finance Authority to provide funding of up to $4,552,000.00 (up to $4,000,000.00 from Ordinance No. 1861-2026) for urban redevelopment projects; and to authorize the expenditure in an amount up to $552,000.00 within the Westside Community Fund; and to declare an emergency. ($552,000.00)
Body
WHEREAS, the Columbus-Franklin County Finance Authority (“CFCFA”) will provide gap funding for urban redevelopment projects that will assist in the revitalization of properties within the City’s urban core and adjacent neighborhoods; and
WHEREAS, Ordinance No. 1861-2026 authorized an amendment to the 2025 Capital Improvement Budget and the transfer between projects and divisions in an amount up to $4,000,000.00 within the Development Taxable Bonds Fund; and
WHEREAS, Ordinance No. 1861-2026 also authorized the expenditure in an amount up to $4,000,000.00 within the Development Taxable Bonds Fund; and
WHEREAS, prior to implementing Ordinance No. 1861-2026, it was determined that additional funding of up to $552,000.00 was necessary for a project to bring total funding to CFCFA up to $4,552,000.00; and
WHEREAS, it is necessary to appropriate funds in the amount of up to $552,000.00 from within the Westside Community Fund and to authorize the expenditure; and
WHEREAS, the City will enter into a grant agreement in the total amount of $4,552,000.00 (up to $4,000,000.00 from Ordinance No. 1861-2026) with the CFCFA in order to provide gap funding for urban redevelopment projects within the City of Columbus; and
WHEREAS, the CFCFA will work directly with the City in order to determine project eligibility; and
WHEREAS, grant funding will be advanced to the CFCFA to fund these projects; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development in that it is immediately necessary to authorize the additional funding in order to maintain the financing schedule for the projects within the urban core and adjacent neighborhoods in need of revitalization to allow them to close on financing at the most advantageous interest rates or the overall project costs may become costlier to the City, for the immediate preservation the public health, peace, property, safety and welfare; and NOW, THEREFORE:
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That from the unappropriated balance of the Westside Community Fund, Fund 2276, and from all monies estimated to come into said fund from any and all sources and unappropriated for any other purchase during the fiscal year ending December 31, 2026, the sum of $552,000 or so much thereof as may be necessary is hereby appropriated within Fund 2276, Westside Community Fund, in Object Class 05 (Other) per the accounting codes in the attachment to this ordinance.
SECTION 2. That the Director of the Department of Development is authorized to enter into a grant agreement with the CFCFA in the amount up to $4,552,000.00 (up to $4,000,000.00 from Ordinance No. 1861-2026) to provide funding for urban redevelopment projects.
SECTION 3. That the expenditure in an amount up to $552,000.00, or so much thereof as may be needed, is hereby authorized in Fund 2276 (Westside Community Fund), in Object Class 05 (Other) per the account codes in the attachment to this Ordinance.
SECTION 4. That the funds necessary to carry out the purpose of this ordinance are hereby deemed appropriated, authorized for expenditure to carry out the purposes of this ordinance, 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 the City Auditor is hereby authorized to transfer the unencumbered balance in a project account to the unallocated balance account within the same fund upon receipt of certification by the Director of the Department administering said project that the project has been completed and the monies are no longer required for said project.
SECTION 7. 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.