City of Columbus - File #: 1410-2006

• File #: 1410-2006
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 7/19/2006
• In control: Jobs and Economic Development Committee
• On agenda: 7/31/2006
• Final action: 8/2/2006
• Title: To increase an existing Auditor's Certificate by $850,000.00 for the Greater Parsons Avenue Area Vision Plan; to authorize the City Auditor to transfer $850,000 from the Special Income Tax Fund to the Northland and Other Acquisition Bond Fund; to authorize the expenditure; and to declare an emergency. ($850,000.00)

Date	Ver.	Action By	Action	Result
8/2/2006	1	MAYOR	Signed
8/2/2006	1	ACTING CITY CLERK	Attest
7/31/2006	1	Columbus City Council	Approved	Pass
7/31/2006	1	COUNCIL PRESIDENT	Signed
7/21/2006	1	Auditor Reviewer	Reviewed and Approved
7/21/2006	1	CITY AUDITOR	Reviewed and Approved
7/21/2006	1	Dev Drafter	Sent for Approval
7/21/2006	1	CITY ATTORNEY	Reviewed and Approved
7/21/2006	1	Dev Drafter	Sent to Clerk's Office for Council
7/20/2006	1	Finance Reviewer	Reviewed and Approved
7/20/2006	1	FINANCE DIRECTOR	Reviewed and Approved
7/20/2006	1	Dev Drafter	Sent for Approval
7/19/2006	1	Dev Drafter	Sent for Approval
7/19/2006	1	DEVELOPMENT DIRECTOR	Reviewed and Approved
7/19/2006	1	Dev Drafter	Sent for Approval
7/19/2006	1	Finance Reviewer	Reviewed and Disapproved
7/19/2006	1	Dev Drafter	Sent for Approval

Explanation

Background: Ordinance No. 0717-2006 passed April 3, 2006, authorized the Director of Development to enter into contracts for purchase of certain real properties within the Greater Parsons Avenue Area Vision Plan and authorized the expenditure of $1,600,000.00 from the Northland and Other Acquisitions Bond Fund. The original amount of funding made available for this project was done so with the understanding that additional monies may be needed at a later date. It is now necessary to increase the Auditor's Certificate established by the aforementioned ordinance by the amount of $850,000.00.

Fiscal Impact: The $850,000 will come from the Special Income Tax Fund. This legislation authorizes the appropriation, transfer and the expenditure of funds. This transfer from the Special Income Tax Fund is only a temporary funding measure until bonds are sold in 2006 at which time the Special Income Tax Fund will be reimbursed for this transaction.

Emergency Justification: Emergency action is requested in order to meet deadlines for closing under the various real estate purchase contracts.



Title

To increase an existing Auditor's Certificate by $850,000.00 for the Greater Parsons Avenue Area Vision Plan; to authorize the City Auditor to transfer $850,000 from the Special Income Tax Fund to the Northland and Other Acquisition Bond Fund; to authorize the expenditure; and to declare an emergency. ($850,000.00)



Body

WHEREAS, the City of Columbus is engaged in the acquisition of real estate in connection with the Greater Parsons Avenue Area Vision Plan; and

WHEREAS, an emergency exists in that it is immediately necessary to increase an Auditor's Certificate by $850,000.00, from the Northland and Other Acquisitions Bond Fund to pay additional professional service costs and other fees incidental to the acquisition of real estate for the above referenced project for the preservation of the public health, peace, property, safety, and we...