Explanation
BACKGROUND:
This ordinance authorizes the Director of the Department of Development to enter into a capital contribution agreement with Big Brothers Big Sisters of Central Ohio Inc. to provide funding for facility renovations which include but are not limited to improvements to essential furniture, fixtures and equipment, technology, and infrastructure in an amount up to $275,000.00. These funds will build out the first floor of the new shared headquarters between Big Brothers Big Sisters of Central Ohio Inc. and the Godman Guild Association to establish a physical space for joint programming. Payments will be made on a predetermined schedule. It is also necessary to certify the required funds, in the amount up to $275,000.00 against the General Fund 1000, Income Tax Set Aside Subfund 100099 and authorize the appropriation and transfer of the funds from the Income Tax Set Aside Subfund to the Development Taxable Bond fund. The funds will be reimbursed upon receipt of the bond proceeds.
EMERGENCY DESIGNATION: Emergency Action is necessary to ensure the payment per the commitment is made, allowing for the intended renovations to be completed per the organization’s construction schedule. Renovations will allow for the continuous provision of services to Columbus youth through crucial and complementary workforce readiness and educational programming provided by Big Brothers Big Sisters of Central Ohio Inc. and the Godman Guild Association.
FISCAL IMPACT: Funding for this project will not be available to the Department of Development until the bonds are sold related to the 2025 Capital Improvement Budget and are available at a future date, therefore it is necessary to certify the required funds, in the amount up to $275,000.00, against the General Fund 1000, Income Tax Set Aside Subfund 100099. The fund will be reimbursed upon receipt of the bonds. There is sufficient budgetary authority for this project.
CONTRACT COMPLIANCE: the vendor number ...
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