Explanation
BACKGROUND: This legislation authorizes the disbursement of the remaining portion of the assessments collected in FY 23 that is to be returned to the Franklinton Special Improvement District for operational requirements.
The Special Improvement District (SID) was created in 2020 for a term of five years from 2021 through 2025. The petition to authorize the SID and its Articles of Incorporation was approved by City Council by Ordinance No. 0810-2020. City Council also approved the Plan for Public Services to be provided by the Franklinton SID by Resolution No. 0069X-2020. The necessity to implement the Plan for Public Services and to levy a special assessment for the improvements and services was approved by City Council by Resolution No. 0103X-2020, passed June 29, 2020. A final piece of legislation, providing for the levy of assessment to property owners, was approved by City Council by Ordinance No. 1895-2020, passed September 14, 2020. A portion of each assessment is to be returned to the SID for operational requirements as set forth in the Plan for Public Services.
Columbus City Council approved Ordinance 0647-2023 on March 20, 2023 authorizing up to $375,000.00 in special assessments to be returned to the Franklinton Special Improvement District of Columbus, Inc. collected in FY 2023. However, the City of Columbus is in receipt of special assessments, which is to be returned to the Franklinton Special Improvement District for operational requirements, totaling $389,411.87. This legislation authorizes the disbursement of the remaining $14,411.87 per the Plan of Services.
This ordinance is submitted as an emergency to disburse special assessments collected in 2023 for approved activities in the 2023 Plan of Services.
FISCAL IMPACT: Funds for this expenditure are received from the levy of assessments collected from property owners in the Franklinton Special Improvement District. These funds are on deposit in Agency Fund 3314.
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