Explanation
Background: This ordinance authorizes the Director of Development to acquire real property, consisting of approximately .28 acres +/-, commonly known as 84-92 North Front Street, Columbus, Ohio 43215, and further identified as Franklin County Tax Parcel No. 010-052390. This site serves as a strategic acquisition to support the City’s downtown campus and any future plans associated with the development or redevelopment of the City owned sites immediately adjacent; being the Beacon Building at 50 West Gay Street and the Parking Garage at 98-102 North Front Street.
This legislation authorizes the Director of Development to execute those documents necessary to purchase the real property from Southeast, Inc., an Ohio non-profit corporation, 16 West Long Street, Columbus, Ohio 43215 and authorizes the transfer, appropriation, and expenditure of cash (AC Humko II TIF service payments in lieu of taxes) in Fund 7788, the Harrison West Recreation Park Fund in an amount up to One Million Four Hundred Thirty Thousand Dollars ($1,430,000.00) for payment of all costs associated with the acquisition, securing of the real property, and closing costs. Ordinance No. 1555-2017 determined that satisfactory provision had been made for the public improvements benefiting the AC Humko II TIF parcels in order to allow those service payments to be used in support of offsite neighborhood public improvements, which include, but are not limited to, the acquisition of real estate in aid of industry, commerce, distribution, research. The legislation is presented as an emergency measure.
Fiscal Impact: Funding of $1,430,000.00 is available within Fund 7788, the Harrison West Recreation Park Fund to pay the costs associated with the acquisition and closing. A transfer of funding between projects and appropriation will be necessary.
Emergency Justification: Emergency action is requested to allow for the immediate execution of the purchase agreement by the City so that the acquisition can proceed without delay in agreement with the closing transaction deadlines and other terms of the purchase agreement.
Title
To authorize the Director of Development to execute those documents necessary to acquire fee simple title and lesser interests to real property identified as Franklin County Tax Parcel No. 010-052390 located at 84-92 North Front Street from Southeast, Inc.; to authorize the transfer of cash and appropriation within the Harrison West Recreation Park Fund; to authorize the expenditure of up to $1,430,000.00 from the Harrison West Recreation Park Fund; and to declare an emergency. ($1,430,000.00)
Body
WHEREAS, the City of Columbus Department of Development desires to enter into a purchase contract between the City and Southeast, Inc., an Ohio non-profit corporation, 16 West Long Street, Columbus, Ohio 43215 for the purchase of approximately .28 acres +/-, commonly known as 84-92 North Front, Columbus, Ohio 43215; and
WHEREAS, the .28 acre site to be acquired will serves as a strategic acquisition to support the City’s downtown campus and any future plans associated with the development or redevelopment of the City owned sites immediately adjacent; being the Beacon Building at 50 West Gay Street and the Parking Garage at 98-102 North Front Street; and
WHEREAS, Ordinance No. 1555-2017 determined that satisfactory provision had been made for the public improvements benefiting the AC Humko II TIF parcels in order to allow those service payments to be used in support of offsite neighborhood public improvements, which include, but are not limited to, the acquisition of real estate in aid of industry, commerce, distribution, research.; and
WHEREAS, it is necessary to authorize the transfer of cash (AC Humko II TIF service payments in lieu of taxes), appropriation, and expenditure of up to $1,430,000.00 within the Harrison West Recreation Park Fund; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development in that it is immediately necessary to authorize the Director of Development to execute those documents necessary for the acquisition of that real property identified as Franklin County Tax Parcel 010-052390, commonly known as 84-92 North Front Street, Columbus, Ohio 43215, from Southeast, Inc., an Ohio non-profit corporation, at the earliest feasible date in agreement with the closing transaction deadlines and other terms of the purchase agreement thereby providing for the immediate preservation of the public health, peace, property, welfare; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the Director of Development is authorized to execute those documents by and between the City and Southeast, Inc. for the purchase of approximately .28 acres, more or less, of real property identified as Franklin County Tax Parcel 010-052390 located at 84-92 North Front Street.
SECTION 2. That the transfer of $1,430,000.00, or so much thereof as may be needed, is hereby authorized within Fund 7788 (Harrison West Recreation Park Fund), from Project P778003-100000 (Harrison West / AC Humko II TIF refund), Object Class 06 (Capital Outlay) to Project P440104-100024 (Strategic Acquisition Fund), Object Class 06 (Capital Outlay) per the account codes in the attachment to this ordinance
SECTION 3. That from the unappropriated monies and from all monies estimated to come into said fund from any and all sources and unappropriated for any other purpose during the fiscal year ended December 31, 2026, the sum of $1,430,000.00 is appropriated in Fund 7788 (Harrison West Recreation Park Fund), Dept-Div 4402 (Economic Development), Project P440104-100024 (Strategic Acquisition Fund), in Object Class 06 (Capital Outlay) per the account codes in the attachment to this ordinance.
SECTION 4. That the expenditure of One Million Four Hundred Thirty Thousand Dollars and 00/100 Dollars ($1,430,000.00), or so much thereof as may be necessary, be and is hereby authorized in Fund 7788 (Harrison West Recreation Park Fund), Dept-Div 4402 (Economic Development), P440104-100024 (Strategic Acquisition Fund), in Object Class 06 (Capital Outlay) per the accounting codes in the attached to this ordinance.
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 authorized to transfer the unencumbered balance in a project account to the unallocated balance account of 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 the funds necessary to carry out the purpose of this ordinance are hereby deemed appropriated, and the City Auditor shall establish such accounting codes as necessary.
SECTION 8. 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 passage and approval by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes the same.