Explanation
BACKGROUND:
This legislation authorizes the Director of the Department of Development to amend Contract DL008625 with the Columbus Downtown Development Corporation (CDDC) by extending the termination date to June 30, 2006 and increasing the amount by $955,495.62. The CDDC requests an extension of their 2004 agreement and the additional funds to leverage additional resources toward the final implementation of the emerging RiverSouth Master Plan as well as move forward with the Mayor's Strategic Business Plan for Downtown. Under this agreement the CDDC implements and oversees downtown development projects and programs as well as forges public-private partnerships with the goal of generating private investment for downtown.
FISCAL IMPACT:
This legislation will authorize the appropriation and expenditure of $955,495.62 from Fund 767.
Title
To authorize the appropriation of $955,495.62 from the Downtown Development Fund to the Department of Development; to authorize the Director of the Department of Development to amend a contract with the Columbus Downtown Development Corporation by increasing the amount and extending the term; and to authorize the expenditure of $955,495.62 from the Downtown Development Fund. ($955,495.62)
Body
WHEREAS, the Director of the Department of Development desires to amend the contract with the Columbus Downtown Development Corporation by increasing the amount by $955,495.62 and extending the term to June 30, 2006; and
WHEREAS, under this agreement the Columbus Downtown Development Corporation will implement and oversee downtown development projects and programs as well as forge public-private partnerships with the goal of generating private investment for downtown; and NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That from the unappropriated monies in the Downtown Development Fund; Fund No. 767, and from all monies estimated to come into sai...
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