Explanation
BACKGROUND: By Ordinance No. 2069-90, the City formed the Columbus Municipal Airport Authority, and on September 23, 1991, by Ordinance No. 1904-91, the City conferred upon the Authority certain powers authorized to a municipal port authority under Chapter 4582, Ohio Revised Code. That same date, an agreement was entered into between the City and the Authority defining airport operation and use at both Port Columbus International Airport and Bolton Field. That agreement was amended in 1995 and in 1999. As recited in the agreement, the City loaned $4 million to the former Airport Division in 1983, 1986, and 1990, but before this money could be repaid, with interest, by the Authority, the parties were required to negotiate an agreement to provide to the Authority the fair market rental value for past and future use by the City of airport property at both fields as public golf courses.
This ordinance authorizes the City to enter into a third amendment of the original airport agreement which resolves all outstanding issues between the City and the Authority by netting out against the debt owed by the Authority past and future golf course rental, by providing for transfers of property between the Authority and City, and by providing to the Authority all powers authorized to a port authority under Chapter 4582. The amendment has been approved by the Federal Aviation Administration and the Recreation and Parks Commission.
FISCAL IMPACT: The Authority will pay the City $2,853,886, to be deposited into the General Fund, as the obligation remaining due to the City after golf course rentals and property exchanges are taken into account. The Authority has also agreed to cancellation of a $350,000 obligation of the City to the Authority associated with an Executive Jet relocation.
Title
To authorize an amendment to the Airport Operation and Use Agreement between the City of Columbus and the Columbus Airport Authority and to authorize the la...
Click here for full text