City of Columbus - File #: 0001-2011

• File #: 0001-2011
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 1/3/2011
• In control: Finance & Economic Development Committee
• On agenda: 1/24/2011
• Final action: 1/24/2011
• Title: To authorize the appropriation of $133,230.00 from the unappropriated balance of the Neighborhood Economic Development Fund to the Department of Development to provide funds for personnel and miscellaneous operating costs in the Economic Development Division; and to declare an emergency. ($133,230.00)

Date	Ver.	Action By	Action	Result
1/26/2011	1	CITY CLERK	Attest
1/25/2011	1	MAYOR	Signed
1/24/2011	1	Columbus City Council	Approved	Pass
1/24/2011	1	COUNCIL PRESIDENT	Signed
1/6/2011	1	Dev Drafter	Sent for Approval
1/6/2011	1	CITY AUDITOR	Reviewed and Approved
1/6/2011	1	CITY AUDITOR	Reviewed and Approved
1/6/2011	1	Dev Drafter	Sent for Approval
1/6/2011	1	CITY ATTORNEY	Reviewed and Approved
1/6/2011	1	Dev Drafter	Sent to Clerk's Office for Council
1/5/2011	1	Finance Reviewer	Reviewed and Approved
1/5/2011	1	FINANCE DIRECTOR	Reviewed and Approved
1/4/2011	1	Finance Reviewer	Reviewed and Approved
1/3/2011	1	Dev Drafter	Sent for Approval
1/3/2011	1	DEVELOPMENT DIRECTOR	Reviewed and Approved
1/3/2011	1	Dev Drafter	Sent for Approval
1/3/2011	1	Finance Reviewer	Reviewed and Approved

Explanation

Background: Ordinance No. 1291-01 authorized an Economic Development Agreement with the Village of New Albany. This agreement provides for the sharing of income tax revenues generated from property annexed to the Village. These funds are deposited into the Neighborhood Economic Development Fund. This legislation authorizes the appropriation of $133,230.00 from the unappropriated balance of the Neighborhood Economic Development Fund to the Department of Development to provide funds for personnel and miscellaneous operating costs in the Economic Development Division.

Fiscal Impact: This legislation appropriates $133,230.00 from the unallocated balance of the Neighborhood Economic Development Fund for the purpose of fostering investment and development in the City. The unencumbered cash balance of this fund is approximately $170,000.00 It is anticipated that revenues for 2011 will be approximately $151,000.00

Emergency action is requested so that personnel expenditures related to fostering investment and development in the city can be charged accordingly.


Title

To authorize the appropriation of $133,230.00 from the unappropriated balance of the Neighborhood Economic Development Fund to the Department of Development to provide funds for personnel and miscellaneous operating costs in the Economic Development Division; and to declare an emergency. ($133,230.00)


Body

Whereas, Ordinance No. 1291-01 authorized an Economic Development Agreement with the Village of New Albany; and

Whereas, this agreement provides for the sharing of income tax revenues generated from property annexed to the Village; and

Whereas, these funds are deposited into the Neighborhood Economic Development Fund; and

Whereas, this legislation authorizes the appropriation of $133,230.00 from the unappropriated balance of the Neighborhood Economic Development Fund to the Department of Development to provide funds for personnel and miscellaneous operating...