Explanation
BACKGROUND: This ordinance authorizes the Director of the Department of Development (the “Director”) to accept and execute a reimbursable grant in an amount up to $1,000,000.00 from the State of Ohio acting by and through the Ohio Facilities Construction Commission (the “Commission”), to utilize the remaining grant funds for the North Market Grand Atrium (the “Cultural Project”) being designed and constructed as part of the North Market expansion along with the new adjacent Merchant Building. This ordinance authorizes the Director to enter into a new Cultural Project Cooperative Use Agreement with the Commission, North Market Development Authority, Inc. (“NMDA”) and the Columbus-Franklin County Finance Authority (“CFCFA”). As contemplated in Ordinance No. 1247-2020, this ordinance will also authorize the Director to enter into a grant agreement with NMDA to reimburse them for costs of the Cultural Project incurred before the purchase order but after March 1, 2026, and this ordinance will transfer the appropriation and expenditure in an amount up to $1,000,000.00 to NMDA for such purposes.
The Cultural Project will host cultural events through the presentation of visual, musical, and other arts. To support these efforts, the Department of Development was invited to apply for up to $1,000,000.00 in grant assistance from the Commission for the Cultural Project and was awarded said grant. The grant funding, along with additional public and private funding, will be used to construct the Cultural Project. The grant requires at least a 50% match, and the match will be provided by the NMDA and the City.
Ordinance No. 1247-2020 authorized the Director to accept and execute the original grant and enter into the original agreement with only the Commission. Such agreement required the Cultural Project to be completed by December 31, 2024, but due to delays caused by the COVID-19 pandemic, construction has been delayed. The Commission has agreed to allow the Cit...
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