Explanation
1. Background: This ordinance authorizes the City Attorney to acquire certain property rights, and to expend monies in connection with the Big Walnut Augmentation Rickenbacker Interceptor (BWARI) Lockbourne Intermodal Subtrunk Project. The preliminary amount of funding originally made available for this project was done so with the understanding that additional monies may be necessary at certain points during the acquisition process to cover anticipated settlement costs, and those staff hours necessary to the projects completion.
This ordinance is part of a continuing process based on the following ordinances: Ordinance 1814-2007 was passed November 19, 2007 and provided the initial funding to begin the necessary title searches, appraisal services and staff costs; Ordinance 0362-2009 passed March 30, 2009 and Ordinance 1659-2010 authorized the City Attorney to acquire certain property rights, and to expend monies in connection with the Big Walnut Augmentation Rickenbacker Interceptor (BWARI) Lockbourne Intermodal Subtrunk Project.
The preliminary amount of funding originally made available for this project was done so with the understanding that additional monies may be necessary at certain points during the acquisition process to cover anticipated settlement costs, and those staff hours necessary to the projects completion. The following legislation authorizes the transfer and expenditure of additional funds within the Sanitary Sewer Build America Bond (B.A.B's) Fund for payment of acquisition costs in connection with the Big Walnut Augmentation Rickenbacker Interceptor (BWARI) Lockbourne Intermodal Subtrunk Project.
2. Fiscal Impact: This ordinance authorizes the transfer a total of $255,000.00 of funds from within the Sanitary Sewer Build America Bond (B.A.B's) Fund, Fund 668 for the purpose of providing the necessary funding required for this expenditure, to provide sufficient budget authority, and to amend the 2011 Capital I...
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