Explanation
The City of Columbus (the "City"), Franklin County Convention Facilities Authority (the "Authority"), and the County of Franklin, Ohio (the "County") were authorized to execute a Cooperative Agreement by ordinance 1578-2009. The ordinance was passed by City Council at the December 7, 2009 council meeting. This agreement facilitates the acquisition, construction, installation, and equipping of a full-service convention center hotel on High Street, in Columbus, Ohio across from the existing Columbus Convention Center.
The original proposed agreement stated that the City would raise City Parking Meter Charges in an amount reasonably expected to produce $1,500,000, annually. These monies are to be deposited in the City Parking Meter Contribution Fund. The fund is required to have a balance of $1,400,000 no later than January 1, 2012.
The City is able to increase parking meter "charges" in several ways, including: increases in parking meter rates, the hours of collection/enforcement, the number of parking meters, or a combination thereof. The purpose of this ordinance is to amend the proposed Cooperative Agreement to specify that by January 1, 2011, the City shall increase total parking meter charges in order to satisfy its obligation under the Cooperative Agreement.
This amendment to the cooperative agreement is deemed necessary to further clarify the City's financial commitment to the full-service convention hotel. While the exact method of increasing parking meter charges, (i.e., increases in parking meter rates, hours of collection/enforcement, the number of meters, or a combination thereof) is not presupposed, the City will increase total parking meter charges no later than January 1, 2011, to ensure the City will meet its financial commitment.
Emergency designation: This ordinance is being submitted for approval under Section 55(B) of the Columbus City Charter and as an emergency measure due to the fact the Authority is preparing to issue bonds in January, 2010 to finance the convention center hotel.
Fiscal Impact
The City is required to have a balance of $1,400,000 no later than January 1, 2012 in the City Parking Meter Contribution Fund.
Title
To authorize the Director of Finance and Management or the Mayor to execute on behalf of the City a Cooperative Agreement among the Franklin County Convention Facilities Authority, Franklin County, and the City describing the parties' agreements regarding the acquisition, construction, installation, equipping and financing of a full-service convention center hotel as amended to reflect the current version of such agreement prepared by bond counsel to the Franklin County Convention Facilities Authority; and to declare an emergency. Section 55(b) of the City Charter.
Body
WHEREAS, the City of Columbus, Ohio (the "City") has been engaged in cooperative efforts with the Franklin County Convention Facilities Authority (the "Authority"), and the County of Franklin, Ohio (the "County") to facilitate the acquisition, construction, installation and equipping of a full-service convention center hotel on High Street, in Columbus, Ohio across from the existing Columbus Convention Center; and
WHEREAS, the establishment of a publicly-owned full-service convention center hotel will increase the number of convention-quality hotel rooms and convention space available in the City in order to attract more and larger conventions, resulting in substantial public and economic benefits to the City, the Authority and the County; and
WHEREAS, in Ordinance No. 1578-2009 dated December 7, 2009, this Council affirmed the City's commitment to engage in cooperative efforts with the Authority and the County through the execution of a cooperative agreement (the "Cooperative Agreement") among the Authority, the County and the City describing the parties' agreements regarding the acquisition, construction, installation, equipping and financing of a full-service convention center hotel to be located on High Street, in Columbus, Ohio across from the existing Columbus Convention Center; and
WHEREAS, the Cooperative Agreement has subsequently been amended to specify January 1, 2011 as the date certain by which the City shall increase its parking meter charges (i.e., increases in parking meter rates, hours of collection/enforcement, the number of meters, or a combination thereof) in order to satisfy its obligations under the Cooperative Agreement; and
WHEREAS, an emergency exists in the usual daily operation of the City of Columbus in that it is immediately necessary to adopt this Ordinance as an emergency measure due to the fact that the Authority is preparing to issue bonds to finance the convention center hotel described herein, which bonds are to be secured by payments to be made by the County which are to be reimbursed, in part, by the revenues provided for by this Ordinance, and it is therefore necessary for this Ordinance to be effective immediately, and to ensure the 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 this Council hereby approves the form of Cooperative Agreement, as amended, and on file with the Clerk of Council. The Mayor or the Director of Finance and Management are authorized to execute the Cooperative Agreement, as amended, on behalf of the City and to approve additions, changes or amendments to such document, which would not substantially amend or increase the duties of the City as set forth in the version of the Cooperative Agreement currently on file.
SECTION 2. It is hereby found and determined that all formal actions of this Council concerning and relating to the adoption of this Ordinance were adopted in an open meeting of this Council, and that all deliberations of this Council and of any of its committees that resulted in such formal action, were meetings open to the public, in compliance with all legal requirements including Section 121.22 of the Ohio Revised Code.
SECTION 3. In accordance with Section 55(b) of the Charter of the City of Columbus, Ohio, and for the reasons stated in the preamble hereto, which is hereby made a part hereof, this Ordinance is declared to be an emergency measure necessary for the immediate preservation of the public peace, health, and safety and therefore, except as otherwise provided herein, shall take effect and be in force from and immediately after its passage and approval by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes the same.