Explanation
Background: On August 29, 2008 the City entered into the Columbus Coated Fabrics Economic Development Agreement (EDA) with Wagenbrenner Development, Inc. to address the redevelopment of the site with housing, green space and improved roadways. In accordance with the provision of Section 11 of the EDA, the City and the developer agreed to enter into a Design Agreement to design improvements to the public roadways. The City has committed to funding the design and construction of street and utility improvements up to $12.85 million. The cost of design is $1,060,000. Subsequent legislation will authorize the construction of the improvements.
Fiscal Impact: Funds are available in the 2008 Capital Improvements Budget under Development Department projects.
Emergency Justification: Design of Phase I roadways must be completed in time to construct Grant Avenue improvements during the 2009 construction season in order to comply with funding requirements of the New Market Tax Credits.
Title
To amend the 2008 Capital Improvements Budget; to authorize the transfer of funds within the Streets and Highways G.O. Bonds Fund and the Northland and Other Acquisitions Fund; to authorize the expenditure of $1,060,000 from the Streets & Highways G.O. Bonds Fund, the Northland and Other Acquisitions Fund and the Development Fund; to authorize the Directors of Public Service and Development to enter into a Design Agreement with Wagenbrenner Development, Inc. for the design of public roadway improvements in and around the Columbus Coated Fabrics site; and to declare an emergency. ($1,060,000.00)
Body
WHEREAS, the City entered into an Economic Development Agreement (EDA) with Wagenbrenner Development, Inc. to address the redevelopment of the Columbus Coated Fabrics site; and
WHEREAS, the EDA includes the need for improved public roadways and utilities through and around the site, of which the design and construction will be funded by the City up to a cost of $12.85 million; and
WHEREAS, this ordinance authorizes the City to enter into a Design Agreement with the developer in order to complete the design of such public improvements; and
WHEREAS, subsequent legislation will authorize the construction of such public improvements; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development, in that it is immediately necessary to transfer and expend said funds so that the design of Phase I roadways can be completed in time to construct Grant Avenue improvements during the 2009 construction season in order to comply with funding requirements of the New Market Tax Credits, 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 the 2008 Capital Improvements Budget established within ordinance 0690-2008 be and hereby is amended due to cancellations as follows:
Fund / Project Number / Project / Current CIB Amount / Amendment Amount / CIB Amount
704 / 530058-100000 / NCR (Carryover) / $6,065,125 (Carryover) / $5,173.00 (Carryover) / $6,070,298.00 (Carryover)
704 / 530021 / Urban Infrastructure Improvements (Carryover) / $29,978 (Carryover) / $5,440.00 (Carryover) / $35,418.00
704 / 530801 / Downtown Streetscape / $514,252.00 (Carryover) / $35,343.00 (Carryover) / $549,595.00 (Carryover)
704 / 590415 / Economic & Community Development / $267,693.00 (Carryover) / $490,161.00 (Carryover) / $757,854.00 (Carryover)
Section 2. That the 2008 Capital Improvements Budget established within ordinance 0690-2008 be and hereby is amended as follows:
Fund / Project Number / Project / Current CIB Amount / Amendment Amount / CIB Amount
704 / 440104 / Misc Economic Development / $3,361.00 (Carryover) / ($3,631.00) (Carryover) / $0.00 (Carryover)
704 / 530021 / Urban Infrastructure Improvements / $35,418.00 (Carryover) / ($35,418.00) / $0.00 (Carryover)
704 / 530058 / NCR / $6,070,298.00 (Carryover) / ($21,143.00) (Carryover) / $6,049,155.00 (Carryover)
704 / 530303 / Housing Initiatives - Roadway Imp / $1,262,000 (Carryover) / ($710,362.00) (Carryover) / $552,238.00 (Carryover)
704 / 530801 / Downtown Streetscape / $549,595.00 (Carryover) / ($11,785.00) (Carryover) / $537,810.00 (Carryover)
704 / 590131 / Miscellaneous Development / $646,082.00 (Carryover) / ($131,453.00) (Carryover) / $514,629.00 (Carryover)
704 / 590415 / Economic & Community Development / $757,854.00 (Carryover) / $913,790.00 (Carryover) / $1,671,644.00 (Carryover)
735 / 440104 / Misc Economic Development / $21,310.33 / ($21,310.33) / $0
735 / 590415 / Economic & Community Development / $1,255,000 / $21,310.33 / $1,276,310.33
Section 3. That the transfer of monies within the Streets and Highways G.O. Bonds Fund 704, the Northland and Other Acquisitions Fund 735 and the Development Fund 742 be authorized as follows:
TRANSFER FROM:
Fund / Dept-Div / Project # / Project / Object Level One / OCA Code / Amount
704 / 44-01 / 440104 / Misc Economic Development / 06 / 440104 / $3,630.82
704 / 59-12 / 530021 / Urban Infrastructure Improvements / 06 / 590038 / $35,417.66
704 / 59-12 / 530058 / NCR / 06 / 590039 / $21,142.40
704 / 59-11 / 530303 / Housing Initiatives - Roadway Imp. / 06 / 591145 / $710,362.00
704 / 59-11 / 530801 / Downtown Streetscape / 06 / 591067 / $11,784.08
704 / 59-11 / 590131 / Miscellaneous Development / 06 / 591132 / $131,452.07
TOTAL TRANSFER FROM FUND 704 $913,789.03
735 / 44-01 / 440104 / Misc Economic Development / 06 / 735020 / $21,310.33
TOTAL TRANSFER FROM FUND 735 $21,310.33
TRANSFER TO:
Fund / Dept-Div / Project # / Project / Object Level One / OCA Code / Amount
704 / 59-12 / 590415 / Economic & Community Development / 06 / 591258 / $913,789.03
735 / 44-01 / 590415 / Economic & Community Development / 06 / 440735 / $21,310.33
Section 4. That the Directors of Public Service and Development are hereby authorized to enter into a Design Agreement for $1,060,000 with Wagenbrenner Development, Inc. who may assign or direct payments under this contract to Weinland Park Reinvestment, Inc. for the purpose of completing the design of infrastructure and public roadway improvements in and around the Columbus Coated Fabrics site.
Section 5. That for the purpose stated in Section 3, the expenditure of up to $1,060,000.00 or so much thereof as may be needed, is hereby authorized to be expended as follows:
Fund / Dept-Div / Project # / Project / Object Level One / Object Level Three / OCA Code / Amount
704 / 59-12 / 590415 / Economic & Community Development / 06 / 6621 / 591258 / $925,659.04
735 / 44-01 / 590415 / Economic & Community Development / 06 / 6621 / 440735 / $126,310.33
742 / 44-01 / 440104 / Misc Economic Development / 06 / 6621 / 643106 / $8,030.63
Section 6. 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 7. That for 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 passage and approval by the Mayor or ten days after passage if the Mayor neither approves nor vetoes the same.