Explanation
BACKGROUND: The City of Columbus was designated a federal Empowerment Zone in January of 1999. Parties to the agreements include HUD, The State of Ohio, the cities of Columbus (lead entity under this agreement), Gahanna, and Obetz, the Village of Groveport, and Mifflin, Madison, and Hamilton townships (nominating entities). Consistent with the MOA and the Empowerment Zone's strategic plan, the City of Columbus will serve as the lead entity responsible for the administration of the EZ and the receipt, expenditure and obligation of all federal funds provided for use in the EZ. On an annual basis, the City will provide progress reports on the EZ's performance to HUD. The Columbus Compact Corporation is the governing body and implementation agent for the Columbus Empowerment Zone. The Empowerment Zone designation will be in effect from January 1, 1999 through December 31, 2009.
This ordinance is submitted as an emergency so as to allow the financial transaction to be posted in the City's accounting system as soon as possible. Up to date financial posting promotes accurate accounting and financial management.
FISCAL IMPACT: The legislation will transfer funds between object levels to provide funds for administrative costs relating to the Empowerment Zone Grant.
Title
To authorize the transfer of $82,970 within the General Government Grant Fund, Department of Development, to provide funds for administrative costs relating to the Empowerment Zone Grant; and to declare an emergency. ($82,970.00)
Body
WHEREAS, the Department of Development has been awarded a grant by the U.S. Department of Housing and Urban Development to implement year seven initiatives of the Columbus Empowerment Zone's strategic plan; and
WHEREAS, the Department of Development entered into a grant agreement with HUD on June 16, 1999, whereby HUD is providing funding over a ten year period; and
WHEREAS, it is necessary to transfer funds within the ...
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