Explanation
BACKGROUND: This legislation authorizes the Director of the Department of Development to enter into three grant agreements in an aggregate amount not to exceed $137,000.00 with 1) the Franklinton Special Improvement District of Columbus funded in an amount not to exceed $57,000.00; 2) the 5th Avenue and 4th Street Special Improvement District funded in an amount not to exceed $35,500.00; and the University District Special Improvement District, Inc. funded in an amount not to exceed $44,500.00.
The Special Improvement Districts (SIDs) provide services including but not limited to safety, cleanliness, and beautification through special assessments levied on properties within the SID boundary. The funding allocated in this agreement include payments in lieu of taxes for city-owned properties within the district as well as supplementary funding to further support the mission of the SIDs.
Emergency action is requested to ensure continuous programming to promote job creation and economic development.
FISCAL IMPACT: Funding is available within the Economic Development Division’s 2025 General Fund budget, but will require a transfer between object classes.
CONTRACT COMPLIANCE:
· Franklinton Special Improvement District of Columbus: the vendor number is 035762 and contract compliance expires on 01/14/2027
· 5th Avenue and 4th Street Special Improvement District: the vendor number is 035115 and contract compliance expires on 04/02/2027
· University District Special Improvement District, Inc.: the vendor number is 016992 and contract compliance expires on 02/26/2026
Title
To authorize the Director of the Department of Development to enter into three grant agreements in an aggregate amount up to $137,000.00 with the Franklinton Special Improvement District of Columbus, the 5th Avenue and 4th Street Special Improvement District, and the University District Special Improvement District, Inc.; to authorize the transfer and expenditure of up to $137,000.00...
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