Explanation
BACKGROUND: This ordinance authorizes the Director of Development to enter into a not-for-profit service contract in an amount up to $550,000.00 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: $550,000.00 is budgeted in the Economic Development Division’s 2024 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 not-for-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 $550,000.00; and to authorize an expenditure up to $550,000.00 from the General Fund, and to authorize the advancement of funds on a pre-determined schedule. ($550,000.00)
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, ec...
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