Explanation
BACKGROUND:
The Columbus Downtown Development Corporation (CDDC) is a private, 501(c)(3) not for profit corporation, it is governed by a 15-member board of directors, of whom 14 are appointed by the Mayor of Columbus with the confirmation of the Columbus City Council, and one is appointed by Franklin County. The CDDC is sustained by annual financial commitments of each board member, as well as the City of Columbus and Franklin County. Moreover, the CDDC will continue to forge public-private partnerships so that limited public dollars will leverage more substantial private sector investments. The CDDC is responsible for implementing those ideas put forth in the Mayors Strategic Business Plan for Downtown Columbus; modifying the plan as necessary in response to changes in circumstance, need, and policy leadership over time; and broadening and maintaining support for the plan. This legislation authorizes the Director of Development to enter into an agreement with the Columbus Downtown Development Corporation (CDDC). Under this agreement the CDDC will implement and oversee downtown development projects and programs as well as forge public-private partnerships with the goal of generating private investment for downtown.
FISCAL IMPACT:
This legislation authorizes the appropriation of $114,810 from the Capital South Fund to provide funds to enter into an agreement with the Columbus Downtown Development Corporation.
Title
To authorize the appropriation of $114,810 from the Capital South Fund; to authorize the Director of the Department of Development to enter into an agreement with the Columbus Downtown Development Corporation; and to authorize the expenditure of $114,810 from the Capital South Fund. ($114,810)
Body
WHEREAS, the Director of the Department of Development desires to enter into an agreement with the Columbus Downtown Development Corporation; and
WHEREAS, under this agreement the Columbus Downtown Development Corporation will implement and oversee downtown development projects and programs as well as forge public-private partnerships with the goal of generating private investment for downtown; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the City Auditor is hereby authorized and directed to appropriate $114,810 to the Department of Development, Division 44-01, Capital South Fund, Fund 481, as follows:
Object Level 0ne Object Level Three OCA Code Amount
03 3336 441481 $114,810
Section 2. That the Development Director is hereby authorized to enter into an agreement with the Columbus Downtown Development Corporation.
Section 3. That the expenditure of $114,810, or so much thereof as may be necessary, from the Department of Development, Downtown Development Office, Division 44-01, Capital South Fund, Fund 481, OCA Code 441481, Object Level One 03, Object Level Three 3336 for the aforesaid purpose is hereby authorized.
Section 4. That this contract is awarded pursuant to Section 329.15 of the Columbus City Codes, 1959, as amended.
Section 5. That this ordinance shall take effect and be in force from and after the earliest period allowed by law.