City of Columbus - File #: 0621-2004

• File #: 0621-2004
• Version: 1
• Type: Ordinance
• Status: Defeated
• File created: 3/22/2004
• In control: Development Committee
• On agenda: 7/19/2004
• Final action: 7/19/2004
• Title: To authorize the Director of the Department of Development to acquire fee simple title, contract for professional services, to authorize the appropriation and to authorize the City Auditor to transfer $500,000 from the Special Income Tax Fund to the Northland and Other Acquisition Fund for costs in connection with the King Lincoln District Acquisition Project; to authorize the expenditure of $500,000; and to declare an emergency ($500,000).

Date	Ver.	Action By	Action	Result
7/19/2004	1	Columbus City Council	Approved	Fail
7/19/2004	1	Columbus City Council	Taken from the Table	Pass
4/19/2004	1	Columbus City Council	Tabled Indefinitely	Pass
4/1/2004	1	CITY ATTORNEY	Reviewed and Approved
4/1/2004	1	Dev Drafter	Sent to Clerk's Office for Council
3/24/2004	1	Finance Reviewer	Reviewed and Approved
3/24/2004	1	FINANCE DIRECTOR	Reviewed and Approved
3/24/2004	1	Dev Drafter	Sent for Approval
3/24/2004	1	Auditor Reviewer	Contingent Within
3/24/2004	1	CITY AUDITOR	Reviewed and Approved
3/24/2004	1	Dev Drafter	Sent for Approval
3/23/2004	1	Dev Drafter	Sent for Approval
3/23/2004	1	DEVELOPMENT DIRECTOR	Reviewed and Approved
3/23/2004	1	Dev Drafter	Sent for Approval

Explanation

BACKGROUND: The following is an ordinance to authorize and direct the Director of Development to acquire fee simple title, contract for professional services, and to expend the monies for payment of acquisition costs in connection with the King Lincoln District Acquisition Project #441738.


FISCAL IMPACT: The $500,000 will come from the Special Income Tax Fund. This legislation authorizes the appropriation, transfer and the expenditure of funds. This transfer from the Special Income Tax Fund is only a temporary funding measure until bonds are sold in 2004 at which time the Special Income Tax Fund will be reimbursed for this transaction.


EMERGENCY JUSTIFICATION: Emergency action is requested in order to allow the purchase
of the real property without delay to meet the promissory
note deadline.



Title

To authorize the Director of the Department of Development to acquire fee simple title, contract for professional services, to authorize the appropriation and to authorize the City Auditor to transfer $500,000 from the Special Income Tax Fund to the Northland and Other Acquisition Fund for costs in connection with the King Lincoln District Acquisition Project; to authorize the expenditure of $500,000; and to declare an emergency ($500,000).



Body

WHEREAS, the City of Columbus, Department of Development desires to acquire real property and contract for professional services for the King Lincoln District Acquisition Project; and

WHEREAS, the real property being purchased is for redevelopment within the King Lincoln District Acquisition Project area; and

WHEREAS, it is necessary to appropriate and transfer $500,000.00 from the Special Income Tax Fund to the Northland and Other Acquisition Fund and to expend the same; and

WHEREAS, the City will sell notes or bonds to fund this project and will reimburse the...