Explanation
BACKGROUND: The purpose of this ordinance is to authorize a modification to the grant agreement and purchase orders established under the Green Columbus Fund Program for the property at 154-164 South Yale Avenue, Columbus Ohio. The original grant agreement was authorized by Ordinance 0205-2011, passed by City Council on February 28, 2011, pursuant to which a grant agreement was entered into with U&I Properties, LLC, which had an access agreement allowing Brownfield assessment work on the site. Matthew R. Egner is the sole member of U&I Properties, LLC. For various reasons, MRE Holdings, Ltd., of which Matthew R. Egner is also the sole member, recently purchased the site. The City and Mr. Egner agree that it is appropriate to modify the grant agreement to reflect MRE Holdings Ltd.'s ownership of the site. The modification will change the company name and federal identification number of the grantee from U & I properties, LLC to MRE Holdings, Ltd.
MRE Holdings, Ltd. will soon make a reimbursement request to the Department of Development for expenses authorized by Ordinance 0205-2011. The recent unexpected discovery of an additional large underground storage tank makes it likely that the grantee will make a second grant application to the City to enable it to complete the work. Should the City receive such a future grant application from MRE Holdings, Ltd. it will go through the normal process under the Green Columbus Fund, and nothing in this ordinance commits the City Council to take a particular position with respect to such a future grant application.
FISCAL IMPACT: No additional monies are required to modify the grant agreement.
Title
To authorize the Director of the Department of Development to modify a Green Columbus Fund grant agreement to reflect the change of the company name from U & I Properties LLC to MRE Holdings, Ltd.: and to declare an emergency.
Body
WHEREAS, Ordinance 0205-2011, passed by City Council on February 28...
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