Explanation
BACKGROUND: As part of the Consent Order and Settlement Agreement between the City of Columbus and Penn National Gaming, Inc., the parties agreed to create the Westside Community Fund. Both the City of Columbus and Penn National Gaming agreed to contribute $2.5 million to the Westside Community Fund, with the first payment of $1 million to be made in 2012. Additional contributions of $750,000 were to be made by each party in 2013. The parties further agreed to each contribute $500,000 in 2014 and $250,000 in 2015.
The Westside Community Fund will be used for a variety of projects related to the neighborhood(s) immediately surrounding the Casino development and/or the citizens thereof, including but not limited to job training, minority affairs, economic development and/or capital projects.
This ordinance authorizes the appropriation and expenditure of $92,500 from the Westside Community Fund for support of The Homes on the Hill CDC. This funding will be used to support their Housing Education and Counseling programs, and to further develop and launch their Financial Capability Programs, which help families achieve and maintain economic well-being.
Emergency action is necessary in order to facilitate the timely and continuing development of the Westside Community and the resulting creation and retention of jobs.
FISCAL IMPACT: Funds have been deposited into the Westside Community Fund from proceeds from the city’s allocation of State Casino Tax Revenues to support this expenditure.
Title
To authorize the appropriation of $92,500.00 from the Westside Community Fund to the Department of Development; to authorize the Director of the Development Department to enter into contract with Homes on the Hill CDC to support their Housing Education and Counseling programs and to further develop and launch their Financial Capability Programs; to authorize the expenditure of $92,500 from the Westside Community Fund; and to declare an emergency. ($92,500.00)
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