Explanation
Background: On October 3, 2012, City Council passed Ordinance 1968-2012 which established a nonprofit development 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. This ordinance authorizes a contract in the amount of $500,000 with Columbus Next Generation Corporation for this purpose.
Emergency action is requested so that contracting can commence and the contractor can be engaged in economic development activities as quickly as possible.
Contract Compliance:
Fiscal Impact: Funding for this contract ($500,000.00) is fully budgeted within the 2013 budget, with funding coming from CDBG and the General Fund Operating Budget.
Title
To authorize the Director of the Department of Finance and Management to enter into contract with Columbus Next Generation Corporation to provide support for services which advance economic development initiatives in specific areas of the city; to authorize the expenditure of $500,000.00 from the General Fund and Community Development Block Grant (CDBG) Fund; and to declare an emergency. ($500,000.00)
Body
WHEREAS, Ordinance 1968-2012, passed by City Council on October 10, 2012 authorized the Mayor of the City of Columbus to create and establish a nonprofit corporation to advance, encourage and promote industrial, economic and commercial development as well as eliminate blight and create jobs; and
WHEREAS, the city registered with the Ohio Secretary of State to create the Columbus Next Generation Corporation on October 10, 2012;
WHEREAS, Columbus Next Generation Corporation will perform a variety of services to advance economic development, including but not limited to, creation of economic development plans for specific areas of the city; develop and promote incen...
Click here for full text