Explanation
Background
The Columbus Department of Development accepted a $500,000.00 road work grant for the Jeffrey Place (A.K.A. Jeffrey Square) development project in Italian Village from the Ohio Department of Development under the authority of Ordinance No. 1419-01, approved July 30, 2001. As commencement of the Jeffrey Place project was delayed during 2002-2003 grant expiration date amendments were obtained from the Ohio Department of Development by the Columbus Department of Development where the developer; Concorde Capital, now has until December 2004 to complete road work under the grant.
The Jeffrey Place project is now ready to commence application of the $500,000.00 state road work grant being required to complete road work infrastructure prior to the planned construction of 850 residential units, a neighborhood school, hotel and over 300,000 square feet of office space.
This legislation will authorize transfer to the $500,000.00 Jeffrey Place state roadwork grant from the Columbus Department of Development to the Public Service Department for the administration of the grant for the roadwork project.
Fiscal Impact - $500,000.00 Ohio Department of Development roadwork grant transfer from the Columbus Department of Development to the Public Service Department for administration to the Jeffrey Place Development project.
Title
To authorize and direct the transfer of a $500,000.00 Ohio Department of Development road work grant for the Jeffrey Place development project from the Columbus Department of Development to the Columbus Public Service Department, within the General Government Grant Fund, for administration and application to road work construction; and to declare an emergency. ($500,000.00)
Body
WHEREAS, the Columbus Department of Development obtained an Ohio Department of Development road work grant of $500,000.00 for the Jeffrey Place development project; and
WHEREAS, the Columbus Department of Development...
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