Explanation
BACKGROUND: The purpose of this legislation is to authorize the Director of the Department of Development to enter into an agreement with the Ohio Department of Development to receive and administer a Clean Ohio Assistance Fund grant in the amount of $300,000 for environmental clean up at the Atlas Building at 8 East Long Street in Downtown Columbus and to authorize entering into an agreement with 8 East Long Holdings, LLC, to apply the grant funding toward the environmental clean up work at the project site to prepare for redevelopment.
Pursuant to Ordinance 1055-2011, passed by Columbus City Council on July 11, 2011, the Columbus Department of Development applied for a Clean Ohio Assistance Fund grant of up to $750,000, and was awarded a Clean Ohio Assistance Fund grant of $300,000 from the Ohio Department of Development for environmental clean up at the Atlas site in partnership with 8 East Long Holdings, LLC.
The Atlas Building was constructed in 1923 and is on the National Register of Historic Places. The building has 12 stories of office space with first floor retail space and was recently acquired by 8 East Long Holdings, LLC; who plans to convert the building into 102 apartment units and maintain first floor retail space. Total project cost is estimated at $12 million. The awarded Clean Ohio grant funding will be used for asbestos abatement and limited interior demolition.
This legislation is submitted as an emergency to commence work under the grant immediately.
FISCAL IMPACT: Funding for this project is provided by a Clean Ohio Assistance Fund grant from the Ohio Department of Development in the amount of $300,000. There are no costs to the City to receive and administer the grant.
Title
To authorize and direct the Director of the Columbus Department of Development to enter into an agreement with the Ohio Department of Development to receive and administer a Clean Ohio Assistance Fund grant in an amount of $300,000.00 for env...
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