Explanation
BACKGROUND: This legislation authorizes the Director of the Department of Development to enter into a grant agreement, in an amount up to $259,447.12, with the Zora’s House in support of the completion of the community hub.
To further expand the programs and services offered by Zora’s House, an initiative was started to expand to build out a new $5.1 million community hub that will serve as a center for leadership, innovation, and economic empowerment. Zora’s House has successfully completed the 10,000 square foot community hub, however additional funding is needed to complete the entrepreneurial hub within the new facility.
Columbus City Council, per Ordinance Number 0484-2022, on April 4, 2022, authorized the Director of Development to enter into a grant agreement, in an amount of $500,000.00, with Zora’s House in support of the community project. The allocation from the City of Columbus was an in-kind match of $250,000 each from the Ohio Capital Corporation for Housing and The Columbus Foundation.
Emergency Designation: An emergency exists as the payment per the commitment is due and is necessary for the improvement and expansion of the Zora’s House construction schedule.
FISCAL IMPACT: Funds in the amount of $259,447.12 are available for this project in the Development Taxable Bonds Fund 7739 within the Department of Development.
CONTRACT COMPLIANCE: The vendor number is 043278 and contract compliance expires on 3/4/2027.
Title
To amend the 2024 Capital Improvement Budget; to authorize the City Auditor to transfer cash and appropriation between projects within the Development Taxable Bonds Fund; to authorize the Director of Development to enter a grant agreement in an amount up to $259,447.12 with Zora’s House in support of the completion of the community hub; to authorize the transfer between projects and the expenditure in an amount up to $259,447.12 within the Development Taxable Bond Fund; to advance funding on a...
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