Explanation
BACKGROUND: The Reauthorized Capital Crossroads Special Improvement District of Columbus, Inc. (SID), a non-profit organization, was created in August of 2006 to go into effect in January 2007. As part of the Plan for Services for the SID, the Development Department committed to providing a cooperative share of $200,000 per year (minus the assessment for City owned parcels 010-041949, 010-039010, and 010-018405) for the five years of the SID. The assessment for the three City owned properties referenced above totals $11,982.
The City cooperative share will be combined with the property owner's share to provide services within the SID boundaries. These services include: Environmental Maintenance, Supplemental Security, Promotions and Marketing, and Member Services.
This legislation authorizes the Director of the Development Department to enter into an agreement with the Reauthorized Capital Crossroads SID to provide funding for services within the SID boundaries.
Emergency action is requested so that the agreement with the Reauthorized Capital Crossroads SID can be executed immediately in order to continue the services provided by the SID.
FISCAL IMPACT: The funding for this agreement has been allocated from the 2008 General Fund.
Title
To authorize the Director of the Department of Development to enter into an agreement with the Reauthorized Capital Crossroads Special Improvement District of Columbus Inc.; to authorize the expenditure of $188,018 from the 2008 General Fund; and to declare an emergency. ($188,018)
Body
WHEREAS, the Reauthorized Capital Crossroads SID was formed in August 2006, and took effect in January 2007, for a period of five years; and
WHEREAS, as part of the Plan for Services for the Reauthorized Capital Crossroads SID the Development Department committed to providing a cooperative share of $200,000 per year (minus the assessment for City owned property $11,982) for the five years of the SID; ...
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