Explanation
BACKGROUND: This ordinance authorizes the Recreation and Parks Department (“CRPD”) to acquire property consisting of approximately 57.21 acres {Franklin county parcel number 590-159023} located at 2425 West Case Road, Columbus, Ohio 43235 commonly known as the Ohio State University Sheep Farm (“Real Estate”). CRPD has evaluated this property and is seeking to acquire it for use as parkland and green space including the construction of a proposed shelter house and walking path.
This legislation authorizes the Director of the Recreation and Parks Department to execute those documents necessary to purchase the real property from The State of Ohio and to expend up to Five Million Three Hundred Thousand and 00/100 Dollars ($5,300,000.00) for costs associated with the acquisition of the property, all associated due diligence testing costs, and closing costs.
CONTRACT COMPLIANCE: Not applicable
FISCAL IMPACT:
Funding for this project is budgeted within the 2018 Capital Improvements Budget. Bonds have yet to be sold for the cost of this acquisition. Therefore, it is necessary to certify the required funds in the amount of $5,300,000 against the Special Income Tax Fund 4430. Upon the sale of bonds, this will be reimbursed. There is a total of $5,300,000.00 available for this acquisition.
EMERGENCY JUSTIFICATION:
Emergency action is requested in order to acquire the Real Estate allowing the Recreation and Parks Department to complete the purchase of the property without unnecessary delay, which will preserve the public peace, health, property, safety, and welfare.
Title
To authorize the appropriation of $5,300,000.00 to the Special Income Tax Fund 4430; to authorize the City Auditor to transfer $5,300,000.00 between the Special Income Tax Fund 4430 and the Recreation and Parks Voted Bond Fund 7702; to authorize the Director of the Recreation and Parks Department to execute those document(s), as approved by the Department of Law, Real Estate...
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