City of Columbus - File #: 0796-2006

• File #: 0796-2006
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 4/13/2006
• In control: Jobs and Economic Development Committee
• On agenda: 4/24/2006
• Final action: 4/27/2006
• Title: To appropriate and authorize the expenditure of $100,000 in the Jobs Growth Initiative Fund, to authorize the transfer and expenditure of $100,000 within the General Fund to support the new port authority; and to declare an emergency. ($200,000)

Date	Ver.	Action By	Action	Result
4/27/2006	1	ACTING CITY CLERK	Attest
4/26/2006	1	MAYOR	Signed
4/24/2006	1	Columbus City Council	Approved	Pass
4/24/2006	1	COUNCIL PRESIDENT	Signed
4/14/2006	1	Finance Drafter	Sent for Approval
4/14/2006	1	CITY ATTORNEY	Reviewed and Approved
4/14/2006	1	Finance Drafter	Sent to Clerk's Office for Council
4/13/2006	1	Finance Drafter	Sent for Approval
4/13/2006	1	FINANCE DIRECTOR	Reviewed and Approved
4/13/2006	1	Finance Drafter	Sent for Approval
4/13/2006	1	Auditor Reviewer	Reviewed and Approved

Explanation
Background:
Ordinance 0540-2006 authorized the execution of a port authority agreement between the City and Franklin County to create a new port authority focused on serving the economic development needs of the City and Franklin County and provided City Council's advice and consent to the Mayor's appointments to the port authority's board of directors as provided in the agreement.

This legislation appropriates funding for the support of the port authority in the amount of $200,000 under the terms of the proposed port authority agreement. The port authority agreement also requires Franklin County to match City payments. The agreement also provides that the City will, subject to future appropriations, provide up to $200,000 of funding in years 2007 through 2010 to the port authority

Fiscal Impact:
Funding for the support of the port authority will be distributed equally between the Jobs Growth Initiative Fund and the General Fund. The port authority agreement requires Franklin County to match City payments. The agreement also provides that the City will, subject to future appropriations, provide up to $200,000 of funding in years 2007 through 2010 to the port authority.

Title
To appropriate and authorize the expenditure of $100,000 in the Jobs Growth Initiative Fund, to authorize the transfer and expenditure of $100,000 within the General Fund to support the new port authority; and to declare an emergency. ($200,000)


Body
WHEREAS, Ordinance 0540-2006 authorized the execution of a port authority agreement between the City and Franklin County to create a new port authority focused on serving the economic development needs of the City and Franklin County; and

WHEREAS, the proposed Port Authority Agreement requires the City and the County to each provide funding to the proposed Port Authority in the amount of $200,000; and

WHEREAS, funds are available in the Jobs Growth Initiative Fund and the General Fund to support t...