Explanation
BACKGROUND: This legislation authorizes the receipt, appropriation, and expenditure of additional proceeds from Federal HUD funds related to the Reeb Avenue Building Renovations Project. This project involves the renovation of the historic portion of the Reeb Avenue Elementary School, and a child care addition where the vintage 1960s addition once stood. The facility will be known as the Reeb Avenue Center.
Ordinance 1758-2014, authorized the Finance and Managment Director to enter into contract on behalf of the Office of Construction with Thomas & Marker Construction Company for the Reeb Avenue Building Renovations Project. This ordinance also identified $5,720,000.00 in outside funding sources; $3,220,000.00 from various private individuals/entities, $2,000,000.00 from the State of Ohio, and $500,000.00 in Federal HUD proceeds. In connection therewith, this ordinance authorized the acceptance, appropriation, and expenditure of these outside funding sources and also authorized the City Auditor to establish grant receivables for these proceeds.
Since passage of this original ordinance, it has been determined that the Federal HUD proceeds will be increased from $500,000.00 to $650,000.00 and the private entity contributions will be reduced by a commensurate amount ($150,000.00) down to $3,070,000.00.
This ordinance therefore authorizes the City Auditor to appropriate the $150,000.00 in additional Federal HUD proceeds and also authorizes the Finance and Management Director to receive and expend these proceeds in connection with the previously established contract with Thomas and Marker Construction Company.
Emergency action is requested so that to the greatest extent possible the project can be completed prior to the 2015 academic school year.
Fiscal Impact: No additional expenditures are required. This ordinance authorizes the receipt, appropriation, and expenditure of additional Federal HUD funds in the amount of $150,000. These additional HUD p...
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