Explanation
1. BACKGROUND
The purpose of this legislation is to authorize the issuance of refunds representing the unspent balance of monies deposited to support the construction of certain infrastructure improvements in conjunction with the Roadway Improvements - Scioto Peninsula project, formerly known as Roadway - Scioto Peninsula Roadway Improvements Phase 1.
The aforementioned project encompasses the full depth reconstruction of Capital Street, Rush Alley, State Street, and Chapel Street from Starling Street to Belle Street and Starling Street and Belle Street from Broad Street to Town Street. As part of that effort, the City agreed to construct, or to cause to be constructed, certain additional improvements benefiting private developments within the project limits. The construction of the additional improvements was supported by monies contributed by Flaherty & Collins Properties, the Daimler Group Inc., the River South Authority, and the Scioto Peninsula New Community Authority pursuant to Ordinance 1959-2020.
Construction of that project is substantially complete, and Department of Public Service staff recently determined refunds of varying amounts are owed to three of those entities: Flaherty & Collins Properties, the Daimler Group Inc., and the Scioto Peninsula New Community Authority. This legislation seeks to facilitate the issuance of the aforementioned refunds, which total $69,049.15.
2. FISCAL IMPACT
Funding in the amount of $69,049.15 is available in Fund 7766 Street and Highway Improvements (Non-Bond) Fund to support the necessary expenditures.
3. EMERGENCY JUSTIFICATION
Emergency action is requested in order to facilitate the return of unused developer-deposited construction funding to the entities to which those funds are owed within the next 60 days.
Title
To authorize the City Auditor to appropriate $69,049.15 within the Street & Highway Improvements Non-Bond Fund; to authorize the Director of Public Service to refund the unspent b...
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