Explanation
1. BACKGROUND
Following a traffic study completed in January 2012, Scioto Downs, Inc. committed to provide funding to the Department of Public Service for public improvement projects, which includes the design and construction of a west bound turn lane from Rathmell Road onto State Route 23 necessitated, in part, by the expansion of the Scioto Downs Racetrack.
This legislation authorizes the Director of Public Service to accept funding from Scioto Downs, Inc.
2. FISCAL IMPACT
Scioto Downs, Inc. has agreed to provide funding to the Department of Public Service through a lump sum payment of $356,650.00.
3. EMERGENCY DESIGNATION
Emergency action is requested so as to allow the Department of Public Service to use the funds for the immediate benefit to the City.
Title
To authorize the Director of Public Service to enter into agreement with Scioto Downs, Inc.; to accept funds for public improvement projects, which includes the design and construction of a west bound turn lane from Rathmell Road onto State Route 23 necessitated, in part, by the expansion of the Scioto Downs Racetrack; and to declare an emergency. ($0.00)
Body
WHEREAS, Scioto Downs, Inc. recently undertook a significant expansion of the Scioto Downs Racetrack; and
WHEREAS, a privately funded traffic study demonstrated the need for an additional dedicated west bound turn lane on Rathmell Road onto State Route 23 and the Department of Public Service is requiring Scioto Downs, Inc. to provide funding for public improvements; and
WHEREAS, Scioto Downs, Inc. has agreed to make a lump sum payment of $356,650.00; and
WHEREAS, this ordinance will authorize the Director of Public Service to enter into agreement with Scioto Downs, Inc. and accept funding for public improvement projects, which includes constructing a right turn lane on Rathmell Road to State Route 23; and
WHEREAS, an emergency exists within the Department of Public Service so that the funds may be used to s...
Click here for full text