Explanation
BACKGROUND:
This legislation authorizes the expenditure of $135,300 for a Brownfield grant award pursuant to the Green Columbus Fund, which was established in October 2010 by Ordinance 1462-2010.
The Green Columbus Fund represents the City's commitment to foster sustainable building through LEED certification and to foster sustainable Brownfield assessment and redevelopment. The program will produce economic, environmental and social benefits for Columbus and its residents.
This legislation authorizes the Director of Development to enter into a grant agreement with Commonwealth Realty Fund LLC for Brownfield assessment and redevelopment of the site at 505 East Livingston Ave., subject to the project attaining Brownfield assessment and redevelopment goals of the program, and meeting the other terms and conditions of the agreement. It also authorizes the expenditure of up to $135,300 for this purpose.
FISCAL IMPACT:
Funding is from the Green Columbus Fund - 2010 Capital Improvements Budget.
Title
To authorize the Director of the Department of Development to enter into a grant agreement with Commonwealth Realty Fund LLC for Brownfield assessment and redevelopment of the site located at 505 East Livingston Ave. pursuant to the Green Columbus Fund Program; and to authorize the expenditure of up to $135,300.00 from the Northland and Other Acquisitions Fund. ($135,300.00)
Body
WHEREAS, the Department of Development administers the Green Columbus Fund (established by Ordinance 1462-2010) from city bond proceeds; and
WHEREAS, the Green Columbus Fund represents the City's commitment to foster sustainable building through LEED certification and to foster sustainable Brownfield assessment and redevelopment; and
WHEREAS, the program will produce economic, environmental and social benefits for Columbus and its residents; and
WHEREAS, the applicant has applied under the Brownfield assessment and redevelopment component of this progr...
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