Explanation
BACKGROUND: This ordinance authorizes the Director of Development to enter into a contract in an amount up to $500,000.00 with Columbus Next Generation Corporation (Next Gen) for administrative support to ensure the purchasing and acquisition of key, urban, real property assets in targeted central city areas to advance industrial, economic, and commercial development in the City of Columbus.
On October 3, 2012, Columbus City Council passed Ordinance Number 1968-2012 which established a nonprofit development corporation, the Columbus Next Generation Corporation, for the purpose of advancing, encouraging and promoting industrial, economic and commercial development in the City of Columbus and named the City of Columbus as the sole member of the entity. This corporation is charged with eliminating blight and creating job opportunities as well.
Emergency action is requested in order to continue providing uninterrupted administrative assistance in order to facilitate the redevelopment of key urban areas.
FISCAL IMPACT: Funding is available in the Department of Development’s 2020 General Fund budget.
Title
To authorize the Director of the Department of Development to enter into a contract in an amount up to $500,000.00 with the Columbus Next Generation Corporation for the purpose of purchasing/acquiring and developing key urban real property assets in targeted central city areas; to authorize an expenditure up to $500,000.00 from the General Fund; and to declare an emergency. ($500,000.00)
Body
WHEREAS, Ordinance Number 1968-2012, passed by Columbus City Council on October 10, 2012, authorized the Mayor of the City of Columbus to create and establish a nonprofit corporation to advance, encourage and promote industrial, economic and commercial development as well as eliminate blight and create jobs; and
WHEREAS, the City of Columbus registered with the Ohio Secretary of State to create the Columbus Next Generation Corporation on October 10, 2012...
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