City of Columbus - File #: 1605-2009

• File #: 1605-2009
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 11/16/2009
• In control: Minority and Small Business Development Committee
• On agenda: 12/7/2009
• Final action: 12/9/2009
• Title: To authorize the Director of the Department of Development to enter into a contract with the Community Capital Development Corporation for the administration of the Energy Efficiency and Conservation Block Grant Revolving Loan Program; to authorize the expenditure of $1,100,000 from the General Government Grant Fund; and to declare an emergency. ($1,100,000)

Date	Ver.	Action By	Action	Result
12/9/2009	1	CITY CLERK	Attest
12/8/2009	1	MAYOR	Signed
12/7/2009	1	Columbus City Council	Approved	Pass
12/7/2009	1	COUNCIL PRESIDENT	Signed
11/19/2009	1	Dev Drafter	Sent for Approval
11/19/2009	1	Auditor Reviewer	Contingent
11/19/2009	1	CITY AUDITOR	Reviewed and Approved
11/19/2009	1	Dev Drafter	Sent for Approval
11/19/2009	1	CITY ATTORNEY	Reviewed and Approved
11/19/2009	1	Dev Drafter	Sent to Clerk's Office for Council
11/18/2009	1	Finance Reviewer	Reviewed and Approved
11/18/2009	1	Finance Reviewer	Reviewed and Approved
11/18/2009	1	FINANCE DIRECTOR	Reviewed and Approved
11/17/2009	1	Dev Drafter	Sent for Approval
11/17/2009	1	DEVELOPMENT DIRECTOR	Reviewed and Approved
11/17/2009	1	Dev Drafter	Sent for Approval

Explanation

BACKGROUND: The Community Capital Development Corporation (CCDC) has administered the Economic Development Loan Program since 2005. This program includes the Business Development Fund (BDF), the Working Capital Loan Fund (WC) and the Neighborhood Commercial Revitalization Loan Fund. Since 2005 CCDC has closed over 30 loans using City of Columbus loan funds, creating over 100 jobs and leveraging private investment.

The City of Columbus has been allocated $1,100,000 in Energy Efficiency and Conservation Block Grant Funds (EECBG) from the U.S. Department of Energy for a revolving loan fund for energy efficient construction and renovation to commercial facilities. CCDC will administer the EECBG loans for the City of Columbus in the same manner they administer our CDBG and CDBG-R loans.

This legislation authorizes the expenditure of $1,100,000 from the General Government Grant Fund for a contract with the Community Capital Development Corporation for the administration of the EECBG funded revolving loan program. The funding for the administration of this loan program and the actual loan funds will remain within the City of Columbus. CCDC will submit monthly requests for funds for administrative costs and will request loan funds on a case-by-case basis upon approval by a loan committee and the City of Columbus.

Emergency action is requested so the Energy Efficiency Revolving Loan Program can be up and running by January 1, 2010. This requires entering into a contract with CCDC and having it approved by the City Attorney and certified by the City Auditor. Thirty day legislation would not allow the program to be in place until February or March 2010. This grant from the U.S. Department of Energy must be spent in a specified time or the City must return the funds.

FISCAL IMPACT: This legislation authorizes the expenditure of $1,100,000 from the General Government Grant Fund to provide funding for a contract with the Community Capital Developmen...