City of Columbus - File #: 1208-2006

• File #: 1208-2006
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 6/26/2006
• In control: Jobs and Economic Development Committee
• On agenda: 7/10/2006
• Final action: 7/12/2006
• Title: To authorize the appropriation of $50,000 within the Jobs Growth Fund, $75,000 within the Public Safety Initiatives Fund, and $125,000 within the Urban Site Acquisition Loan Fund to the Department of Development; to authorize the Director of the Department of Development to enter into loan and grant agreements with Campus Partners for Community Urban Redevelopment; to authorize the expenditure of $50,000 from the Jobs Growth Fund; $75,000 from the Public Safety Initiatives Fund, and $125,000 from the Urban Site Acquisition Loan Fund; and to declare an emergency. ($250,000)

Date	Ver.	Action By	Action	Result
7/12/2006	1	CITY CLERK	Attest
7/11/2006	1	MAYOR	Signed
7/10/2006	1	Columbus City Council	Approved	Pass
7/10/2006	1	COUNCIL PRESIDENT	Signed
6/27/2006	1	Dev Drafter	Sent for Approval
6/27/2006	1	Dev Drafter	Sent for Approval
6/27/2006	1	Dev Drafter	Sent to Clerk's Office for Council
6/27/2006	1	CITY AUDITOR	Reviewed and Approved
6/27/2006	1	Auditor Reviewer	Reviewed and Approved
6/27/2006	1	CITY ATTORNEY	Reviewed and Approved
6/26/2006	1	Dev Drafter	Sent for Approval
6/26/2006	1	Dev Drafter	Sent for Approval
6/26/2006	1	DEVELOPMENT DIRECTOR	Reviewed and Approved
6/26/2006	1	FINANCE DIRECTOR	Reviewed and Approved
6/26/2006	1	Finance Reviewer	Reviewed and Approved

Explanation

BACKGROUND: This legislation authorizes the Department of Development to enter into loan and grant agreements with Campus Partners for Community Urban Redevelopment (Campus Partners)to facilitate a phase II environmental assessment of the former Columbus Coated Fabrics site.

Last February Campus Partners entered into a contract to purchase the Columbus Coated Fabrics site from its bankrupt owner, Decorative Surfaces International, Inc. (DSI). The Columbus Coated Fabrics site has been used for industrial purposes for more than 100 years, utilizing a myriad of hazardous substances. In order for Campus Partners and the city to determine if the site is economically viable for redevelopment, they must first determine the cost to remediate the hazardous waste and other environmental issues, as well as the cost to demolish the existing buildings. This assessment will permit the City and Campus Partners to make a much more informed decision in August on whether to close on this troubled property. At a minimum, the assessment will provide a clear understanding of the types and extent of contamination, the required levels of environmental remediation, cost of environmental remediation and, we hope, a better understanding of the site's redevelopment potential. Even if the City and Campus Partners choose not to close and acquire the site in August, the environmental data will inform future decisions when resources may be available or the redevelopment potential is greater.

FISCAL IMPACT: The funding for the loan and grant agreements will come from three different sources, $50,000 from the Jobs Growth Fund and $75,000 from the Public Safety Initiatives Fund as grants and $125,000 from the Urban Site Acquisition Loan Fund for a loan. This legislation authorizes the appropriation and expenditure of $50,000 from the Jobs Growth Fund, $75,000 from the Public Safety Initiatives Fund, and $125,000 from the Urban Site Acquisition Loan Fund for the agreements w...