Explanation
1. BACKGROUND
The purpose of this legislation is to authorize the issuance of a refund for the unexpended balance of funds deposited by OhioHealth Corporation (“OhioHealth”) relative to the design and construction of certain public infrastructure improvements in the vicinity of North Broadway and Olentangy River Road in the amount of $4,412,416.72.
In 2017 the City of Columbus established a collaborative relationship with OhioHealth to coordinate the funding, design, and construction of the North Broadway and Olentangy River Road public infrastructure improvements.
Ordinance 1723-2017 authorized the Director of Public Service to execute a contribution agreement with OhioHealth, effective April 20, 2018, pursuant to which OhioHealth deposited $4,265,315.86 with the City to facilitate the construction of the following projects: SR315 at North Broadway - Interchange Project 1 and SR315 at North Broadway - W. North Broadway at OhioHealth Parkway.
Ordinance 0780-2018 authorized the Director of Public Service to execute a construction reimbursement agreement with OhioHealth, effective July 10, 2018, pursuant to which OhioHealth deposited $147,100.86 with the City to facilitate the performance of construction administration and inspection services relative to the SR315 at North Broadway - W. North Broadway at OhioHealth Parkway project.
At the time of execution of those agreements, the Department of Public Service did not have sufficient funds available to support the completion of the aforementioned projects, necessitating the acceptance of upfront deposits from OhioHealth for that purpose. The City Auditor since has authorized Public Service to advance monies allocated in the 2018 Capital Improvement Budget for the North Broadway and Olentangy River Road public infrastructure improvements by certifying the requisite funds against the Special Income Tax Fund until such time as the receipt of bond sale proceeds occurred. This eliminated the need to use ...
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