Explanation
Background: This legislation authorizes the Director of the Department of Finance and Management to enter into contract with the Greater Columbus Arts Council (GCAC) for the purpose of distributing 2024 Admissions Tax proceeds from the Facility Stabilization Fund to invest in cultural arts facilities, public art, sports venues and performance arts spaces in the greater Columbus area, other than Nationwide Arena.
As Columbus grows, the city will earn an increasingly elevated status as a destination for concerts, conventions, and other major events.
As such, Columbus City Council authorized the establishment of the Facility Stabilization Fund, pursuant to Ord. 3379-2018. This fund was created in order to provide for the resources necessary to maintain Nationwide Arena as well as to invest in other cultural arts, sports, and performance arts venues in the greater Columbus area. Proceeds were made possible via the enactment of a 5% tax on admissions to events in Nationwide Arena. This tax is estimated to yield approximately $4,065,000.00 per current year in revenue, with 20% of that revenue, or approximately $815,000.00, contracted with the Greater Columbus Arts Council for disbursement to outside organizations to invest in improvements to cultural arts facilities, public art, sports venues, and performance arts spaces. GCAC will establish a process for application and consideration of grant proposals.
Greater Columbus Arts Council disburses the tax proceeds through applications and considerations of proposals to outside organizations to invest in the improvements of cultural arts and sports venues. The services provided cannot be provided by existing city employees because these services are beyond the City’s current staffing capacity to provide.
Emergency action is requested so that tax proceeds can be disbursed without delay to ensure timely payments so that investment in cultural arts, sports, and performance arts venues can continue in the ...
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