Explanation
BACKGROUND:
This ordinance authorizes the Director of Development to enter into a grant agreement with Junior Achievement of Central Ohio, Inc. in an amount up to $500,000.00 for the purpose of renovating and updating the existing building and infrastructure to improve safety and accessibility of programming taking place at the facility. Payments will be advanced on a predetermined schedule provided in the terms of the agreement.
Junior Achievement inspires and prepares young people to succeed in their lives and careers. Through immersive learning experiences, mentorship, and practical financial education, Junior Achievement empowers students to understand economics, manage personal finances, plan their careers, and confidently pursue their dreams. By connecting dedicated volunteers and local organizations with eager learners, we bridge the gap between classroom theory and real-world practice, ensuring students are ready to thrive in Ohio’s future workforce.
EMERGENCY DESIGNATION: Emergency action is necessary to ensure payment per the commitment is made, allowing for the intended renovations to be completed per the organization’s renovation schedule. Renovations will allow for the continuous provision of services to Columbus youth through workforce readiness, financial literacy, and entrepreneurship programs provided through Junior Achievement of Central Ohio.
FISCAL IMPACTS: Funding in the amount of $500,000.00 is available in 2025 Capital Improvement Budget, Development Taxable Bonds Fund.
CONTRACT COMPLIANCE: The vendor’s contract compliance number is 042072 and vendor compliance expires 11/14/27.
Title
To authorize the Director of Development to enter into a grant agreement with Junior Achievement of Central Ohio, Inc. to renovate and update existing building and infrastructure; to authorize the expenditure of $500,000.00 from the Development Taxable Bond Fund; to authorize the advancement of funds on a predetermined schedule provid...
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