Explanation
BACKGROUND: This ordinance authorizes the Director of Development to enter into a non-profit contract in an amount up to $500,000.00 with Columbus Next Generation Corporation (Next Gen) for administrative support to ensure the purchasing and acquisition of key urban real property assets in targeted central city areas to advance industrial, economic, and commercial development in the City of Columbus.
On October 3, 2012, Columbus City Council passed Ordinance Number 1968-2012 which established a nonprofit development corporation, the Columbus Next Generation Corporation, for the purpose of advancing, encouraging and promoting industrial, economic and commercial development in the City of Columbus and named the City of Columbus as the sole member of the entity. This corporation is charged with eliminating blight and creating job opportunities as well.
The services included in this not-for-profit service contract cannot be provided by existing city employees because these services are beyond the City’s current staffing capacity to provide.
FISCAL IMPACT: $500,000.00 is budgeted in the Economic Development Division’s 2023 General Fund Budget.
CONTRACT COMPLIANCE: The vendor’s contract compliance 008637 is active and expires on 5/30/2025.
Title
To authorize the Director of the Department of Development to enter into a non-profit service contract with the Columbus Next Generation Corporation for the purpose of purchasing/acquiring and developing key urban real property assets in targeted central city areas in an amount up to $500,000.00; and to authorize an expenditure up to $500,000.00 from the General Fund. ($500,000.00)
Body
WHEREAS, Ordinance Number 1968-2012, passed by Columbus City Council on October 10, 2012, authorized the Mayor of the City of Columbus to create and establish a non-profit corporation to advance, encourage and promote industrial, economic, and commercial development as well as eliminate blight and create jobs; and
WHEREAS, the City of Columbus registered with the Ohio Secretary of State to create the Columbus Next Generation Corporation on October 10, 2012; and
WHEREAS, the Columbus Next Generation Corporation performs a variety of services to advance economic development, including but not limited to, creation of economic development plans for specific areas of the city, develops and promotes incentives, acquires and develops real estate and manages various related projects; and
WHEREAS, this ordinance authorizes a non-for-profit service contract in an amount up to $500,000.00 with the Columbus Next Generation Corporation for the purpose of purchasing and acquiring key urban real property assets in targeted central city areas to advance industrial, economic and commercial development in the City of Columbus; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the Director of the Department of Development is authorized to enter into a non-profit service contract with the Columbus Next Generation Corporation in an amount up to $500,000.00 for activities associated with purchasing and acquiring key urban real property assets in targeted, central city areas to advance industrial, economic and commercial development in the City of Columbus.
SECTION 2. That for the purpose stated in Section 1, the expenditure of $500,000.00, or so much thereof as may be needed, is hereby authorized in Fund 1000 (General Fund), Dept-Div 4402 (Economic Development) in Object Class 03 ( Services) per the accounting codes in the attachment to this ordinance.
SECTION 3. 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 4. That this contract is awarded in accordance with the relevant provisions of City Code Chapter 329 relating to not-for-profit service contracts.
SECTION 5. That the City Auditor is authorized to make any accounting changes to revise the funding source for all contracts or contract modification associated with this ordinance.
SECTION 6. That this ordinance shall take effect and be in force from and after the earliest period allowed by law.