City of Columbus - File #: 0889-2011

• File #: 0889-2011
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 6/2/2011
• In control: Development Committee
• On agenda: 6/6/2011
• Final action: 6/8/2011
• Title: To authorize the Director of the Department of Development, on behalf of the City of Columbus, to enter into a Consent Order in settlement of the case of CD Gaming Ventures, LLC v. City of Columbus, et al., currently pending in the United States District Court for the Southern District of Ohio; to authorize the amendment of the 2011 Capital Improvements Budget; to authorize the transfer of $15,000,000 from the Special Income Tax Fund to the Streets and Highways G.O. Bonds Fund and the Northland and Other Acquisitions Fund; to authorize the appropriation of said funds to their respective aforementioned funds; to authorize the expenditure of $15,000,000 from the Streets and Highways G.O. Bonds Fund and the Northland and Other Acquisitions Fund for the purpose of reimbursing CD Gaming Ventures, LLC for environmental remediation and public roadway improvements pursuant to the terms and conditions of the Consent Order; and to declare an emergency. ($15,000,000.00)

Date	Ver.	Action By	Action	Result
6/8/2011	1	CITY CLERK	Attest
6/6/2011	1	CITY ATTORNEY	Reviewed and Approved
6/6/2011	1	Finance Drafter	Sent to Clerk's Office for Council
6/6/2011	1	Columbus City Council	Approved	Pass
6/6/2011	1	COUNCIL PRESIDENT	Signed
6/6/2011	1	MAYOR	Signed
6/3/2011	1	FINANCE DIRECTOR	Reviewed and Approved
6/3/2011	1	Finance Drafter	Sent for Approval
6/3/2011	1	Auditor Reviewer	Contingent
6/3/2011	1	CITY AUDITOR	Contingent
6/3/2011	1	Finance Drafter	Sent for Approval

Explanation

BACKGROUND: This ordinance authorizes the Director of Development to enter into a Consent Order and Settlement Agreement to resolve litigation filed by CD Gaming Ventures, LLC, an affiliate of Penn National Gaming, Inc., regarding development of a casino facility, and more specifically dealing with annexation and the provision of water and sewer services by the City. The proposed Consent Order and Settlement Agreement also provides for reimbursement for public roadway improvements in the area and environmental remediation of the site, payable upon annexation and the City's receipt of satisfactory documentation of reimbursable expenses.

To facilitate the above described actions, this ordinance also amends the 2011 Capital Improvements Budget.

EMERGENCY ACTION: This ordinance is submitted as emergency in order to comply to the terms and conditions of the Consent Order.
FISCAL IMPACT: The $15,000,000 payment will be available as the result of the City issuing general obligation bonds. The debt service associated with these bonds will be retired from the Special Income Tax Fund and from future casino tax revenues.


Title

To authorize the Director of the Department of Development, on behalf of the City of Columbus, to enter into a Consent Order in settlement of the case of CD Gaming Ventures, LLC v. City of Columbus, et al., currently pending in the United States District Court for the Southern District of Ohio; to authorize the amendment of the 2011 Capital Improvements Budget; to authorize the transfer of $15,000,000 from the Special Income Tax Fund to the Streets and Highways G.O. Bonds Fund and the Northland and Other Acquisitions Fund; to authorize the appropriation of said funds to their respective aforementioned funds; to authorize the expenditure of $15,000,000 from the Streets and Highways G.O. Bonds Fund and the Northland and Other Acquisitions Fund for the purpose of reimbursing CD Gaming Ventures, LLC for environmental rem...