City of Columbus - File #: 1765-2005

• File #: 1765-2005
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 10/14/2005
• In control: Jobs and Economic Development Committee
• On agenda: 10/24/2005
• Final action: 10/26/2005
• Title: To authorize the Director of the Department of Development to enter into an agreement with the Science and Technology Campus Corporation; to authorize the expenditure of $62,892 from the 2005 General Fund; and to declare an emergency. ($62,892)

Date	Ver.	Action By	Action	Result
10/26/2005	1	ACTING CITY CLERK	Attest
10/25/2005	1	MAYOR	Signed
10/24/2005	1	Columbus City Council	Approved	Pass
10/24/2005	1	COUNCIL PRESIDENT	Signed
10/21/2005	1	Dev Drafter	Sent for Approval
10/21/2005	1	Auditor Reviewer	Reviewed and Approved
10/21/2005	1	CITY AUDITOR	Reviewed and Approved
10/21/2005	1	Dev Reviewer	Sent for Approval
10/21/2005	1	CITY ATTORNEY	Reviewed and Approved
10/21/2005	1	Dev Drafter	Sent to Clerk's Office for Council
10/20/2005	1	Finance Reviewer	Reviewed and Approved
10/20/2005	1	FINANCE DIRECTOR	Reviewed and Approved
10/18/2005	1	Dev Drafter	Sent for Approval
10/18/2005	1	DEVELOPMENT DIRECTOR	Reviewed and Approved
10/18/2005	1	Dev Drafter	Sent for Approval

Explanation

BACKGROUND: The Science and Technology Campus Corporation (SCITECH), in partnership with the Ohio State University, the State of Ohio and the City of Columbus was created to develop and recruit life sciences and other technology companies for residency on the SCITECH Campus in Columbus. SCITECH is a not-for-profit organization that is financially dependent on public funds, in the form of grants and subsidies, to augment its revenues from real estate operations. The proposed plans for the SCITECH Campus represent an important component of our community's economic development agenda.

The City has been a partner in this Technology Center endeavor, with staff resources as well as some modest seed funding that assisted in the preliminary planning. As a partner committed to this technology agenda, the Department is proposing to provide $62,892 to the Science and Technology Campus for operating expenses during 2005.

Emergency action is requested to continue the administration of the activities of SCITECH.

FISCAL IMPACT: $62,892 from the 2005 General Fund has been budgeted for this expenditure.



Title

To authorize the Director of the Department of Development to enter into an agreement with the Science and Technology Campus Corporation; to authorize the expenditure of $62,892 from the 2005 General Fund; and to declare an emergency. ($62,892)



Body

WHEREAS, advancing technology in central Ohio is a high priority economic development initiative; and

WHEREAS, the development of the Science and Technology Campus at The Ohio State University is an integral element of that strategy; and

WHEREAS, City financial support for the Science and Technology Campus Corporation to spearhead this effort is needed; and

WHEREAS, this is an approved General Fund activity; and

WHEREAS, emergency action is required to allow the above activities to continue uninterrupted; and

WHEREAS, an emergency exists in the usual daily operat...