Explanation
Background: This ordinance is a companion to Ordinances No. 2202-98, No. 0295-99, No. 1500-01, No. 0542-05, No. 0581-05, and No. 1066-11. These earlier ordinances authorized the reimbursement agreements and expenditures to date related to the Capital Improvement Project Development and Reimbursement Agreement for Nationwide Arena District. The maximum reimbursement under this agreement is $18,753,000.00 plus City inspection fees.
The agreement called for limitations on expenditures in three categories plus City inspection fees. The current status of these expenditures is:
· $16,610,000.00 authorized and expended for infrastructure (streets) completed in 2005.
· $143,000.00 authorized for a traffic study of which $127,051.68 has been expended and completed in 1999.
· An amount not to exceed $2,000,000.00 for land remediation within the District of which $873,859.16 has been expended. This ordinance will authorize an additional $503,421.00 (as part of the $2,000,000.00) to be expended, leaving an agreed upon amount of $622,719.84.
· The City also expended $934,641.20 for inspection fees.
· This ordinance does NOT change the amount of the original agreement.
Fiscal Impact: $503,421.00 will be authorized and expended for capital projects previously approved by Council. Monies for this expenditure will come from currently existing capital eligible funds.
Title
To authorize the expenditure of $503,421.00 pursuant to the Capital Improvement Project Development and Reimbursement Agreement for the Nationwide Arena District previously authorized by Ordinance No. 2202-98; and to declare an emergency. ($503,421.00)
Body
WHEREAS, Council previously authorized the City's Director of Trade and Development to enter into the Capital Improvement Project Development and Reimbursement Agreement for Nationwide Arena District (the Agreement) via Ordinance No. 2202-98, and
WHEREAS, the Agreement calls for the City to expend/reimburse the maximum amounts, collectively not to exceed $16,610,000 for infrastructure; $2,000,000 for land remediation; and $143,000 for a traffic study; for a total of $18,753,000 plus City inspection fees, and
WHEREAS, authorizing Ordinances Nos. 2202-98, 0295-99, 1500-01, 0542-05, 0581-05, and 1066-11 have preceded this ordinance, and
WHEREAS, an emergency exists in the usual daily operation of the Development Department in that it is immediately necessary for $503,421.00 to be authorized and expended for capital projects previously approved by Council. Monies for this expenditure will come from currently existing capital eligible funds, thereby preserving the public health, peace, property, safety, and welfare; now, therefore:
BE IT ORDAINED BY THE COLUMBUS OF THE CITY OF COLUMBUS:
Section 1. The City Auditor shall make the following transfers of existing capital eligible funds.
Amount / From / To
$503,421.00 / Fd. 430-Dept 44 OCA 430444 OL3 5501 / Fd. 725-560001-100000 Dept 44 OCA 444208 OL3 6602
Section 2. The Director of the Department of Development is authorized to expend an additional amount not to exceed $503,421.00 from Fund 725, Object Level One 06, Object Level Three 6602, OCA 444208, for the purpose contained in the Capital Improvement Project and Reimbursement Agreement for Nationwide Arena district (the Agreement).
Section 3. Contract No. EA000539 is hereby increased to the amount of $503,421.00.
Section 4. All expenditures authorized by this ordinance are to be in strict compliance with the Agreement.
Section 5. All funds necessary to carry out the purpose of this ordinance are hereby deemed appropriated.
Section 6. 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 7. That the City Auditor is authorized to establish proper project accounting numbers as appropriate.
Section 8. That the City hereby is hereby authorized to transfer the unencumbered balance in a project account to the unallocated balance account within the same fund upon certification that the project has been completed and the monies are no longer required.
Section 9. That for the reasons stated in the preamble hereto, which is hereby made a part thereof, 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.