Explanation
BACKGROUND: The purpose of this ordinance is to authorize the Director of the Columbus Department of Development to apply to the Ohio Department of Development, Clean Ohio Assistance Fund, for redevelopment emergency assistance funding in an amount up to $750,000.00. The requested funding will be used for asbestos removal and other eligible costs within the former Seneca Hotel Site situated at 361 East Broad Street in Downtown Columbus.
The project is an adaptive reuse of the historic former Seneca Hotel site. The building, a 10-story landmark at the corner of Broad and Grant and its attached 2 story addition, will be converted to a mix of apartments for students and faculty of the nearby educational institutions and retail geared toward the surrounding neighborhood. There will be a total of 93 apartments and approximately 10-12,000 square feet of retail, with a total project investment in excess of $12 million. Over a 16-month period, the project will return the Seneca as a vibrant contributor to Downtown Columbus.
The legislation and the associated assistance grant application does not subject the City to liability for any site contamination, which may exist at or near the former Seneca Hotel Site.
FISCAL IMPACT: There are no costs to the City of Columbus associated with applying for Clean Ohio emergency assistance grant funding. If the application is approved by the State, the City of Columbus will receive up to $750,000.00 for asbestos removal and other eligible costs for work within the former Seneca Hotel Site.
EMERGENCY
JUSTIFICATION: This legislation is submitted as an emergency to commence the Clean Ohio emergency assistance grant application immediately.
Title
To authorize and direct the Director of the Columbus Department of Development to apply to the Ohio Department of Development, Clean Ohio Assistance Fund, for emergency assistance grant funding in an amount of up to $750,000.00 for asbestos removal and other eligib...
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