Explanation
BACKGROUND:
This ordinance authorizes the Director of the Department of Development to enter into a capital contribution agreement with the Star House to provide funding for facility renovations in an amount up to $1,000,000.00. Star House has seen a significant increase in youth homelessness over the recent years and therefore they are replicating their current drop-in center at the new site on the south side of Columbus to serve youth, ages 14-24 who are experiencing homelessness within that community. The new site will be a former church and school building that has been acquired by Star House and they are in need of additional funding to support the renovations of those sites. This ordinance also authorizes to allow for payment of eligible expenditures from the effective date of the purchase order through December 31, 2027. It is also necessary to certify the required funds, in the amount up to $1,000,000.00 against the General Fund 1000, Income Tax Set Aside Subfund 100099 and authorize the appropriation and transfer of the funds from the Income Tax Set Aside Subfund to the Development Taxable Bond fund. The funds will be reimbursed upon receipt of the bond proceeds.
FISCAL IMPACT: Funding for this project will not be available to the Department of Development until the bonds are sold related to the 2024 Capital Improvement Budget and are available at a future date, therefore it is necessary to certify the required funds, in the amount up to $1,000,000.00, against the General Fund 1000, Income Tax Set Aside Subfund 100099. The fund will be reimbursed upon receipt of the bonds. There is sufficient budgetary authority for this project.
CONTRACT COMPLIANCE: CC- CC008897 expires 03/17/2027
Title
To authorize the appropriation of funds within the Income Set Aside Subfund and the Development Taxable Bonds Fund; to authorize the transfer of cash between the Income Tax Set Aside Subfund and the Development Taxable Bond Fund; to autho...
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