Explanation
BACKGROUND: This legislation authorizes the appropriation and expenditure of up to $325,000.00 and the Director of Development to enter into a contract with the 5th Avenue and 4th Street Special Improvement District of Columbus, Inc. in an amount up to $325,000.00.
The Special Improvement District (SID) was created in 2020 for a term of five years from 2021 through 2025. In 2020 the property owners sought and obtained authorization for a period of five years. The petition to authorize the SID and its Articles of Incorporation was approved by City Council by Ordinance No. 0812-2020, passed May 4, 2020.
City Council also approved the Plan of Services to be provided by the 5th Avenue and 4th Street SID by Resolution No. 0070X-2020 passed May 18, 2020. The necessity to implement the Plan of Services and to levy a special assessment for the improvements and services was approved by City Council by Resolution No. 0104X-2020, passed June 29, 2020.
A final piece of legislation, providing for the levy of assessment to property owners, was approved by City Council by Ordinance No. 2390-2020, passed October 26, 2020. A portion of each assessment is to be returned to the SID for operational requirements as set forth in the District Plan.
This legislation disburses assessments to be collected in fiscal year 2021 to be returned to the SID.
Emergency action is requested to continue services without interruption.
FISCAL IMPACT: Funds for this expenditure will be received from the levy of assessments collected from property owners in the 5th Avenue and 4th Street Special Improvement District in 2021. These funds are deposited into and expended from Agency Fund 3315.
CONTRACT COMPLIANCE: Contractor compliance is pending.
Title
To authorize the appropriation and expenditure of up to $325,000.00 from Agency Fund 3315; authorize the Director of Development to enter into a contract with the 5th Avenue and 4th Street Special Improvement District of Columbus, In...
Click here for full text