Explanation
Background: As part of the Consent Order and Settlement Agreement between the City of Columbus and Penn National Gaming, Inc., the parties agreed to create the Westside Community Fund by March 31, 2012. Each party agreed to contribute $2.5 million to the Westside Community Fund, with the first payment of $1 million to be made in 2012. Additional contributions of $750,000 will be made by each party in 2013. The parties further agreed to each contribute $500,000 in 2014 and $250,000 in 2015.
The Westside Community Fund will be used for a variety of projects related to the neighborhood(s) immediately surrounding the Casino development and/or the citizens thereof, including but not limited to job training, minority affairs, economic development and/or capital projects.
This ordinance authorizes the appropriation and transfer of $1million from the Special Income Tax Fund to the Westside Community Fund.
Fiscal Impact: Monies have been accounted for in the Special Income Tax Fund.
Title
To authorize the appropriation of $1,000,000 from the Special Income Tax Fund to the City Auditor; to authorize the City Auditor to transfer said funds from the Special Income Tax Fund to the Westside Community Fund; to appropriate said funds within the Westside Community Fund; and to declare an emergency. ($1,000,000)
Body
WHEREAS, on June 6, 2011, Columbus City Council passed Ordinance 0889-2011, which authorized the execution of the Consent Order and Settlement Agreement in the case of CD Gaming v. City of Columbus, et al; and
WHEREAS, as a part of that settlement, the City of Columbus and Penn National Gaming, Inc. agreed to create the Westside Community Fund by March 31, 2012; and
WHEREAS, each party agreed to contribute $2.5 million to the Westside Community Fund, with the first payment of $1 million to be made in 2012; and
WHEREAS, the Westside Community Fund will be used for a variety of projects related to the neighborhood(s) immediately surrounding the Casino development and/or the citizens thereof, including but not limited to job training, minority affairs, economic development and/or capital projects; and
WHEREAS, an emergency exists in that this Ordinance is required to be immediately effective in order to facilitate the timely and continuing development of the Westside Community and the resulting creation and retention of jobs, such immediate action being necessary for the preservation of the public health, peace, property and safety; and NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That from the unappropriated balance of the Special Income Tax Fund No. 430, and from all monies estimated to come into said fund from any and all sources and unappropriated for any other purchase during the fiscal year ending December 31, 2012, sum of $1,000,000 or so much thereof as may be necessary is hereby appropriated to the City Auditor, Div. No. 22-01, Object Level One 10, Object Level Three 5501, OCA 900043.
Section 2. That the City Auditor is hereby authorized to transfer said funds to Fund/Subfund 276-001 , Westside Community Fund, Dept-Div 44-01, OCA 276001, Object Level Three 0886 at such time as is deemed necessary by the City Auditor.
Section 3. That the amount of $1,000,000 or so much thereof as may be necessary is hereby appropriated within Fund/Subfund 276-001, Westside Community Fund, Dept/Div 44-01, OCA 276001, Object Level 01 - 03, Object Level 03 - 3000.
Section 4. All monies necessary to carry out the purpose of this Ordinance are hereby appropriated.
Section 5. That the City Auditor is authorized to make any accounting changes to revise the funding source for any contract or contract modification associated with the expenditure of the funds transferred in Section 2 above.
Section 6. For the reasons stated in the Preamble hereto, which is hereby made a part hereof, this Ordinance is hereby declared to be an emergency measure and shall take effect and be in force from and after its passage and approval by the Mayor or ten days after the passage if the Mayor neither approves nor vetoes the same.