Explanation
BACKGROUND: In 2012 and 2013, Council passed Ordinances 2609-2012 and 0690-2013 authorizing the Director of Development to acquire properties within the East Franklinton Creative Community District. This legislation authorizes the expenditure of addition funds for the acquisition, allows the City to transfer properties acquired in the East Franklinton Area to the Columbus Next Generation Corporation and authorizes the expenditure of funds for building improvements. The Department’s Land Redevelopment Office is working with Columbus Next Generation Corporation and the Franklinton Development Association to make the buildings acquired in East Franklinton available to businesses that further the goals of the Creative Community District Plan. All properties acquired in the name of the City of Columbus, Land Reutilization Program will be held in the City’s Land Bank until being transferred to the Columbus Next Generation Corporation for uses consistent with the Plan’s recommendation.
FISCAL IMPACT: This legislation authorizes the transfer and expenditure of funds within the 2013 Capital Improvement Budget in Fund 739 Development Taxable Bonds.
EMERGENCY JUSTIFICATION: Emergency action is requested to begin the purchase of properties as soon as possible in order to facilitate the rehabilitation, redevelopment or demolition of same.
Title
To authorize the Director of the Department of Development, or his designee, to acquire and maintain properties within the East Franklinton planning area; to execute any and all documents necessary for conveyance of title to the Columbus Next Generation Corporation; to amend the 2013 Capital Improvements Budget; to transfer cash between projects within the same fund; to authorize the expenditure of $1,000,000.00 from the Development Taxable Bonds Fund; and to declare an emergency. ($1,000,000.00)
Body
WHEREAS, City Council approved Ordinance 2315-2012 to adopt the East Franklinton Creative Community District Plan ...
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