Explanation
1. BACKGROUND
The City of Columbus, Department of Public Service, Division of Design and Construction in coordination with the City of Westerville participated in the Intersection Improvements - Worthington-Galena & Lazelle project. The purpose of this cooperative project was to improve motorist and pedestrian safety and roadway aesthetics along Worthington-Galena Road/Worthington Road from County Line Road West, south through the Lazelle Road intersection.
The improvement widened the roadway, adding curb, gutter, various storm sewer improvements, and sidewalks on the southeast side of Worthington Galena Road and the north side of Lazelle Road.
The City of Westerville administered the project and utilized City of Columbus staff for inspection of the project.
The City of Westerville applied for and received an OPWC grant and 25 year 0% interest loan for this project. As part of its participation in the project the City will be responsible for reimbursing the City of Westerville for its share of the loan given to Westerville for the project. This ordinance authorizes the City Auditor to pay the City of Westerville biannually for its share of the loan incurred for this project. These loan payments are due to OPWC by July 1 and January 1 each year.
2. FISCAL IMPACT:
The total amount of the 0% interest loan for this project is $700,659.00. The City has agreed to make biannual payments of $6,810.41 to the City of Westerville for this loan. These payments are due in January and July each year and the final payment being in January 2037.
3. EMERGENCY DESIGNATION:
Emergency action is requested to provide payment to the City of Westerville in a timely manner and maintain proper accounting practices for this obligation.
Title
To authorize the City Auditor to provide biannual payment to the City of Westerville for a loan payment for the Intersection Improvements - Worthington-Galena & Lazelle project; to appropriate and authorize the e...
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