Explanation
BACKGROUND:
This legislation authorizes the expenditure of $200,000 for a Brownfield grant award pursuant to the Green Columbus Fund, which was established in October 2010 by Ordinance 1462-2010.
The Green Columbus Fund represents the City's commitment to foster sustainable building through LEED certification and to foster sustainable Brownfield assessment and redevelopment. The program will produce economic, environmental and social benefits for Columbus and its residents.
This legislation authorizes the Director of Development to enter into a grant agreement with Franklinton Development Associates for Brownfield assessment and redevelopment of the site at 421-435 West State Street, subject to the project attaining Brownfield assessment and redevelopment goals of the program, and meeting the other terms and conditions of the agreement. It also authorizes the expenditure of up to $200,000 for this purpose.
Emergency action is requested so that the Physical Phase II corrective action work can proceed and the Iron Horse Yard building can be put into environmentally sound and economically beneficial use.
FISCAL IMPACT:
Funding is from the Green Columbus Fund - 2012 Capital Improvements Budget. Cash for this project is contingent on the July 10th Bond Sale.
Title
To authorize the Director of the Department of Development to enter into a grant agreement with Franklinton Development Associates for Brownfield assessment and redevelopment of the site located at 421-435 West State Street, pursuant to the Green Columbus Fund Program; to authorize the expenditure of up to $200,000.00 from the Northland and Other Acquisitions Fund; and to declare an emergency. ($200,000.00)
Body
WHEREAS, the Department of Development administers the Green Columbus Fund (established by Ordinance 1462-2010) from city bond proceeds; and
WHEREAS, the Green Columbus Fund represents the City's commitment to foster sustainable building through LEED certificat...
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