Explanation
BACKGROUND: This legislation appropriates $1,367,938 from the unappropriated balance of the Land Management Fund for the administration of the Land Reutilization Program (Land Bank). The Land Management Fund was created in September, 1998 to provide funds for various expenses associated with the management and maintenance of properties held in the Columbus Land Bank.
Emergency action is requested so that expenditures related to the administration of Land Redevelopment projects can be charged accordingly.
FISCAL IMPACT: This legislation appropriates $1,367,938.00 from the unappropriated balance of the Land Management Fund. The unencumbered cash balance of this fund is approximately $1,710,748.37. This fund receives sale proceeds from Lank Bank transactions.
Title
To authorize the appropriation of $1,367,938.00 from the unappropriated balance of the Land Management Fund to the Department of Development to provide funds for the administration of the Land Redevelopment Office and related projects; and to declare an emergency. ($1,367,938.00)
Body
WHEREAS, the Land Management Fund was created in September 1998 to provide funds for various expenses associated with the management and maintenance of properties held in the Land Bank; and
WHEREAS, this legislation appropriates $1,367,938.00 from the unappropriated balance of the Land Management Fund to the Department of Development for the administration of the Land Reutilization Program; and
WHEREAS, the unencumbered cash balance of this fund is approximately $1,710,748.37; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development in that it is immediately necessary to provide an appropriation so that expenditures related to the administration of Land Redevelopment projects can be charged accordingly, thus avoiding an interruption in the delivery of vital program services, all for the immediate preservation of the public health, peace, property, safety, an...
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