Explanation
BACKGROUND: The purpose of this legislation is to authorize an agreement between the Director of the Department of Development and the Ohio Department of Development to accept Clean Ohio Assistance Grant Funding in an amount of up to $750,000 for environmental clean up at the former B&T Metals site at 435 West Town Street in Franklinton. This legislation also authorizes an agreement between the Director of the Department of Development and Brick Investments to apply the grant funding toward environmental clean up at the project site.
The Ohio Department of Development has approved the grant application contingent on Ohio Controlling Board approval scheduled for June 1, 2009.
Authorization to apply for said Clean Ohio Assistance Fund grant was obtained under Columbus City Council Ordinance 0866-2008, approved June 2, 2008.
Pursuant to Ordinance 0390-2006 and Ordinance 0581-2007, the Department of Development applied for and received a $174,803 Clean Ohio Assistance Fund grant to undertake a Phase 2 environmental assessment at the site to determine clean up costs to accommodate a 134 unit condominium development with a small art theatre, restaurant and office with an estimated total investment of approximately $15-20 million. The Phase 2 assessment was completed earlier this year to allow for application of the Clean Ohio grant funds to remove asbestos and various contaminates, as well as to undertake limited demolition before commencing redevelopment of the site.
The development will be undertaken by Brick Investments of Beverly Hills California.
This legislation is submitted as an emergency to commence the Clean Ohio grant process immediately contingent on Ohio Controlling Board approval.
FISCAL IMPACT: There are no costs to the City of Columbus associated with accepting Clean Ohio Assistance Grant Funding. The City will receive a Clean Ohio Assistance Fund Grant from the Ohio Department of Development in the amount of $750,000.0...
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