City of Columbus - File #: 2238-2006

• File #: 2238-2006
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 11/29/2006
• In control: Development Committee
• On agenda: 12/11/2006
• Final action: 12/13/2006
• Title: To authorize the Director of the Department of Development to enter into a Guaranteed Maximum Cost Reimbursement Agreement under Section 186 of the Charter with the Lincoln Theater Association; to authorize the City Auditor to transfer $4,000,000 from the Special Income Tax Fund to the Northland and Other Acquisition Fund for costs in connection with the Lincoln Theatre project and to authorize said expenditure; to authorize an additional expenditure of $4,000,000 from the Northland and Other Acquisitions Fund; to waive the competitive bidding procedures of Chapter 329 of the City Code; and to declare an emergency ($8,000,000).

Date	Ver.	Action By	Action	Result
12/13/2006	1	MAYOR	Signed
12/13/2006	1	CITY CLERK	Attest
12/11/2006	1	Columbus City Council	Approved	Pass
12/11/2006	1	COUNCIL PRESIDENT	Signed
12/7/2006	1	Dev Drafter	Sent to Clerk's Office for Council
12/7/2006	1	City Clerk's Office	Sent back for Clarification/Correction
12/7/2006	1	Dev Drafter	Sent to Clerk's Office for Council
12/6/2006	1	City Clerk's Office	Sent back for Clarification/Correction
12/1/2006	1	Finance Reviewer	Reviewed and Approved
12/1/2006	1	FINANCE DIRECTOR	Reviewed and Approved
12/1/2006	1	Dev Drafter	Sent for Approval
12/1/2006	1	Auditor Reviewer	Reviewed and Approved
12/1/2006	1	CITY AUDITOR	Reviewed and Approved
12/1/2006	1	Dev Drafter	Sent for Approval
12/1/2006	1	CITY ATTORNEY	Sent to Clerk's Office for Council
11/30/2006	1	DEVELOPMENT DIRECTOR	Reviewed and Approved
11/30/2006	1	Dev Drafter	Sent for Approval
11/30/2006	1	Finance Reviewer	Reviewed and Approved
11/29/2006	1	Dev Drafter	Sent for Approval

Explanation

BACKGROUND: This legislation authorizes the Director of the Department of Development to enter into a Guaranteed Maximum Cost Reimbursement Agreement with the Lincoln Theater Association. The agreement will provide $4,000,000 from the Northland and Other Acquisitions Fund and $4,000,000 from the Special Income Tax fund to assist with the renovation of the Lincoln Theater, an historic landmark in the City's King-Lincoln District. The Lincoln Theater Association will use the dollars to renovate the theater to accommodate more than 500 seats, a state of the art recording environment and separate jazz gallery. The improvements will assist in advancing the economic revitalization of the community.

Emergency action is requested for this legislation in order to comply with the time line for the project to begin construction.

FISCAL IMPACT: $4,000,000 is included in the 2006 Capital Improvements Budget Lincoln Theatre project. Another $4,000,000 will come from the Special Income Tax Fund. This legislation authorizes the appropriation, transfer and expenditure of funds. This transfer from the Special Income Tax Fund is only a temporary funding measure until funds are received from Franklin County at which time the Special Income Tax Fund will be reimbursed for this transaction.


Title

To authorize the Director of the Department of Development to enter into a Guaranteed Maximum Cost Reimbursement Agreement under Section 186 of the Charter with the Lincoln Theater Association; to authorize the City Auditor to transfer $4,000,000 from the Special Income Tax Fund to the Northland and Other Acquisition Fund for costs in connection with the Lincoln Theatre project and to authorize said expenditure; to authorize an additional expenditure of $4,000,000 from the Northland and Other Acquisitions Fund; to waive the competitive bidding procedures of Chapter 329 of the City Code; and to declare an emergency ($8,000,000).



Body

WHEREAS, the ...