Explanation
BACKGROUND:
This ordinance authorizes the Director of Development to enter into a capital contribution grant agreement with Community Arts Project Inc. dba The King Arts Complex in an amount up to $600,000.00 for the purpose of facility upgrades/renovations at its public cultural arts center that will allow them allow them to continue to engage central Ohio through performing, cultural, and educational programs that disseminates knowledge regarding the vast and significant contributions of African-Americans to the culture and history of America and the world. This ordinance also authorizes the payment of expenditures prior to the issuance of the purchase order beginning January 1, 2026 as well as the advancement of funds on a predetermined basis.
Emergency Designation: Emergency action is necessary to ensure the payment of expenditures per the commitment that has been made, allowing for the intended renovations to be completed per the organization’s renovation schedule. Renovations/upgrades will continue to allow this important organization to be a major anchor in the King-Lincoln District and provide cultural and educational activities and special events to the community.
FISCAL IMPACT: Funding is available with the Development Taxable Bonds Fund, 7739.
CONTRACT COMPLIANCE: The vendor is not contract compliant at this time but is currently working on obtaining this and will be prior to the execution of the purchase order.
Title
To amend the 2025 Capital Improvement Budget; to authorize the City Auditor to transfer appropriation between projects and divisions within the Development Taxable Bonds Fund; to authorize the Director of Development to enter into a capital contribution grant agreement with The Community Arts Project, Inc. dba The King Arts Complex to provide funding for facility upgrades/renovations; to authorize the expenditure in an amount up to $600,000.00 within the Development Taxable Bond Fund; to authorize the expenditures...
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