Explanation
BACKGROUND: This legislation authorizes the expenditure of $94,000 for two LEED grant awards pursuant to the Green Columbus Fund, which was established in October 2010 by Ordinance 1462-2010.
The Green Columbus Fund represents the City's commitment to foster sustainable building through LEED certification and to foster sustainable Brownfield assessment and redevelopment. The program will produce economic, environmental and social benefits for Columbus and its residents.
This legislation authorizes the Director of Development to enter into grant agreements with Nationwide Realty Investors, LLC, for the sustainable construction of two office projects in the City's Arena District. One office building is at 10 Nationwide Blvd. and the other office project is at 240-290 Nationwide Blvd. Each project is subject to attaining LEED certification and meeting the other terms and conditions of the agreement. The ordinance also authorizes the expenditure of up to $94,000 for this purpose.
FISCAL IMPACT: Funding is from the Green Columbus Fund - 2010 Capital Improvements Budget. A C.I.B. amendment is necessary to establish funding in the correct project.
Title
To authorize the Director of the Department of Development to enter into grant agreements with Nationwide Realty Investors,LLC in order to foster sustainable building through LEED certification of the office facilities at 10 Nationwide Blvd. and at 240-290 Nationwide Blvd., pursuant to the Green Columbus Fund Program; to amend the 2012 Capital Improvements Budget; to authorize the transfer and appropriation of monies within the Northland and Other Acquisitions Fund; to authorize the expenditure of up to $94,000.00 from the Northland and Other Acquisitions Fund; and to declare an emergency. ($94,000.00)
Body
WHEREAS, the Department of Development administers the Green Columbus Fund (established by Ordinance 1462-2010) from city bond proceeds; and
WHEREAS, the Green Columbus Fund represents the City's commitment to foster sustainable building through LEED certification and to foster sustainable Brownfield assessment and redevelopment; and
WHEREAS, the program will produce economic, environmental and social benefits for Columbus and its residents; and
WHEREAS, the applicant has applied under the LEED certification component of this program, the purpose of which is to encourage sustainable buildings, and the application has been approved by the Director of the Department of Development; and
WHEREAS, this legislation authorizes the Director of Development to enter into grant agreements with Nationwide Realty Investors, LLC for the sustainable construction of office facilities at 10 Nationwide Blvd. and at 240-290 Nationwide Blvd., Columbus, OH 43215, subject to the projects attaining LEED certification and meeting the other terms and conditions of the agreement; and
WHEREAS, sufficient cash will not be available in the Green Columbus Fund until the 2012 Bond Sale thus, the 2012 Capital Improvements Budget must be amended and cash transferred between projects within Fund 735 Northland and Other Acquisitions in order to provide sufficient funding and spending authority for this project; and
WHEREAS, an emergency exists in the normal operations of the Department of Development in that it is urgent to foster sustainable economic development on these two projects, immediate action being in the interest of the City in order to preserve, enhance, and protect public health, peace, property and Safety; and NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the Director of the Department of Development is hereby authorized to enter into grant agreements with Nationwide Realty Investors, LLC for office projects at 10 Nationwide Blvd. and at 240-290 Nationwide Blvd., Columbus, in order to foster sustainable building through LEED certification under the Green Columbus Fund Program.
Section 2. That the 2012 Capital Improvements Budget is hereby amended as follows:
Fund / Project No. / Project Name / Current Authority / Revised Authority / Change
735 / 441749-100001 / Green Columbus Initiatives Fund / $203.00 (carryover) / $94,000.00 (carryover) / $93,797.00
735 / 590415-100000 / Economic & Community Development / $500,000.00 (carryover) / $406,203.00 (carryover) / ($93,797.00)
Section 3. That the transfer of cash and appropriation within the Northland and Other Acquisitions Fund be authorized as follows:
Transfer from:
Fund / Project No. / Project Name / O.L. 01-03 Codes / OCA / Amount
735 / 590415-100000 / Economic & Community Development / 06-6617 / 440735 / $93,797.00
Transfer to:
Fund / Project No. / Project Name / O.L. 01-03 Codes / OCA / Amount
735 / 441749-100001 / Green Columbus Initiatives Fund / 06-6617 / 754151 / $93,797.00
Section 4. That for the purpose as stated in Section 1, the expenditure of $94,000 or so much thereof as may be necessary, is hereby authorized from the Department of Development, Division 44-01, Northland and Other Acquisitions Fund, Fund 735, Project No. 441749-100001, Object Level One 06, Object Level Three 6617, OCA Code 754151.
Section 5. That the City Auditor is authorized to make any accounting changes to revise the funding source for all contacts or contract modifications associated with this ordinance.
Section 6. Funds necessary to carry out the purpose of this ordinance are hereby deemed appropriated.
Section 7. That for the reasons stated in the preamble hereto, which is made a part hereof, this Ordinance is 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 this Ordinance.