Explanation
The City has contracted with Campus Partners for Community Urban Redevelopment (Campus Partners) to develop the Gateway Revitalization Initiative. Ordinance 2220-2004 passed by City Council January 24, 2005 authorized the expenditure of $2,000,000.00 to Campus Partners for Phase II of the project. The agreement between the City and Campus Partners provides for the latter having responsibility for funding construction inspection for the project and Campus Partners has remitted $80,000.00 to the City to be placed in escrow for this purpose. This amount constitutes an estimate of the total inspection liability. If insufficient, Campus Partners will need to remit additional funds. If the estimate proves higher than the actual inspection cost total, the City will rebate the difference back to Campus Partners. This is consistent with the City's usual practice for handling inspection costs for private development projects.
This $80,000.00 was incorrectly deposited within the Street and Highway Improvement Fund. It was then inadvertently included as a portion of the funding used for Ordinance 0675-2005 passed by City Council July 18, 2005; this authorized a $3,613,000.00 Town Street bridge design contract modification.
This ordinance transfers monies between projects within the 1995, 1999 Voted Streets and Highways Fund and authorizes the expenditure of monies for construction inspection. The Transportation Division will invoice this Fund with billings being deposited into the Development Services Fund from which construction inspectors' payroll and related expenses are incurred.
Fiscal Impact: This ordinance will establish the wherewithal to appropriately bill the capital improvement fund for construction inspection expenses incurred for a capital improvement project. This process is critical in maintaining the financial integrity of the Development Services Fund. There is sufficient cash within the 1995, 1999 Voted Streets and Highway Fund by virtue of the recent cancellation of contract/encumbrance balances that are no longer necessary.
Emergency action is requested to allow for expeditious posting of this financial transaction to the City's accounting system in order to promote accurate accounting and financial management.
Title
To authorize the City Auditor to transfer $80,000.00 between projects within the 1995, 1999 Voted Streets and Highways Fund; to authorize the Public Service Director to expend $80,000.00 or so much thereof as may be necessary from this Fund for construction inspection-related billings for the Gateway Revitalization Initiative project for the Transportation Division and to declare an emergency. ($80,000.00)
Body
WHEREAS, the agreement between the City and Campus Partners for Community Urban Redevelopment provides for the latter having responsibility for funding construction inspection for the Gateway Revitalization Initiative project; and
WHEREAS, Campus Partners has remitted $80,000.00 to the City to be placed in escrow for this purpose; and
WHEREAS, this ordinance establishes the wherewithal to appropriately bill the capital improvement fund for construction inspection expenses incurred for a capital improvement project; and
WHEREAS, this ordinance transfers monies between projects within the 1995, 1999 Voted Streets and Highways Fund; and
WHEREAS, this process is critical in maintaining the financial integrity of the Development Services Fund; and
WHEREAS, an emergency exists in the usual daily operation of the Transportation Division, Public Service Department, in that it is immediately necessary to transfer funds and authorize this expenditure to allow for expeditious posting of this financial transaction to the City's accounting system in order to promote accurate accounting and financial management and to maintain the financial integrity of the Development Services Fund; 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 City Auditor be and hereby is authorized to transfer $80,000.00 between projects within Fund 704, the 1995, 1999 Voted Streets and Highways Fund, Department No. 59-09, Transportation Division, as follows:
TRANSFER FROM:
project number / project / Object Level 01/03 Codes / OCA Code / amount
530790 / Sidewalk Program / 06/6600 / 644385 / $80,000.00
Total Transfer From: $80,000.00
TRANSFER TO:
project number / project / Object Level 01/03 Codes / OCA Code / amount
530051 / OSU Community Improvements / 06/6687 / 644385 / $80,000.00
Total Transfer To: $80,000.00
SECTION 2. That the Public Service Director be and hereby is authorized to expend $80,000.00 or so much thereof as may be necessary to paid construction inspection billings from Fund 704, the 1995, 1999 Voted Streets and Highways Fund, Department No. 59-09, Transportation Division, Object Level One Code 06, Object Level Three Code 6687, OCA Code 644385 and Project 530051.
SECTION 3. 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 that same.