Explanation
Background: On September 11, 2006, the Mid-Ohio Regional Planning Commission (MORPC) accepted Ohio Public Works Commission (OPWC) Round 21 applications for the Local Transportation Improvement Program (LTIP) and State Capital Improvement Program (SCIP). By ordinance 1117-2006, passed by City Council on July 26, 2006, an application was submitted and SCIP funding was awarded to the City for grant/loan assistance for the Morse Road (Phase 2), the High Street (Flint to County Line), and the Henderson Road projects. OPWC is required to award a minimum of 20% of SCIP funding as a no interest 20 year loan. OPWC requires that a designated official be authorized to execute project agreements for approved projects. Additionally, OPWC requires that a Chief Finance Officer certifies the ability to fund the City's portion of the project.
At the time of the application, it was unknown if the LTIP (grant only) or SCIP (loan and grant combination) would be awarded. Because the loan oriented SCIP funds were awarded, this legislation is necessary to allow the Finance and Management Director to sign for funding use certification, local match availability, and to certify loan portion repayment, and it will reaffirm the Public Service Director's authority to execute the project agreement and apply for loans as needed for the projects. Additionally, the ordinance will allow the City Auditor to certify the City's portion of funding for the projects.
Fiscal Impact: On December 15, 2006, the District 3 Public Works Integrating Committee (PWIC) took final action to award $20.9 million to ten Round 21 project applicants, and three City of Columbus projects were awarded funding. The Morse Road Phase 2 project received funding in the form of a grant for $3,492,361 and a 20 year, no interest loan for $1,175,000 for a sum total of $4,667,361. The High Street, Flint to County Line project received funding in the form of a grant for $749,000 and a 20 year, no interest loan...
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