Explanation
BACKGROUND: This legislation authorizes the expenditure of $55,000 for a Brownfield grant award pursuant to the Green Columbus Fund established by Ordinance 1462-2010, which was later amended and replaced by Ordinance 1931-2012.
The Green Columbus Fund represents the City's commitment to foster sustainable building through LEED certification and to foster sustainable Brownfield assessment and redevelopment. The program will produce economic, environmental and social benefits for Columbus and its residents.
This legislation authorizes the Director of Development to enter into a grant agreement with Franklinton Development Association for Brownfield assessment and redevelopment of the renovated building at 421-435 W. State Street and the adjacent site, subject to the project attaining Brownfield assessment and redevelopment goals of the program, and meeting the other terms and conditions of the agreement. It also authorizes the expenditure of up to $55,000 in order to complete Physical Phase II corrective actions leading to an NFA letter from Ohio EPA. This will enable the former warehouse to be rented and then sold to the Columbus Idea Foundry. The housing units on the neighboring lot will be sold. Both will play important roles in the revitalization of Franklinton.
Emergency action is requested so that the assessment and corrective action work can be completed a timely manner.
FISCAL IMPACT: Cash is available in the 2014 Capital Improvements Budget in the Green Columbus Fund portion of Fund 735, identified as Green Columbus Initiatives Fund.
Title
To authorize the Director of the Department of Development to enter into a grant agreement with Franklinton Development Association to enable Brownfield assessment and corrective action in the building at 421-425 W. State Street and on the adjacent site in the Franklinton area of Columbus, pursuant to the Green Columbus Fund Program; to authorize the expenditure of up to $55,000.00 from the Northl...
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