Explanation
Background: On October 3, 2012, City Council passed Ordinance 1968-2012 which established the Columbus Next Generation Corporation; a nonprofit development corporation for the purpose of advancing, encouraging and promoting industrial, economic and commercial development in the City of Columbus and named the City of Columbus as the sole member of the entity. This corporation is charged with eliminating blight and creating job opportunities. This ordinance seeks authorization to establish a contract, in the amount of $500,000, with Columbus Next Generation Corporation for this purpose.
Emergency action is requested so that contracting can commence and the contractor can be engaged in economic development activities as quickly as possible.
Columbus Next Generation Corporation, Contract Compliance Number: 46-26212229
Fiscal Impact: Funding for this contract ($500,000.00) is budgeted within the 2014 General Fund operating budget.
Title
To authorize the Director of the Department of Finance and Management to enter into contract with Columbus Next Generation Corporation to provide support for services which advance economic development initiatives in specific areas of the city; to authorize the expenditure of $500,000.00 from the General Fund; and to declare an emergency. ($500,000.00)
Body
WHEREAS, Ordinance 1968-2012, passed by City Council on October 10, 2012 authorized the Mayor of the City of Columbus to create and establish a nonprofit corporation to advance, encourage and promote industrial, economic and commercial development as well as eliminate blight and create jobs; and
WHEREAS, the city registered with the Ohio Secretary of State to create the Columbus Next Generation Corporation on October 10, 2012; and
WHEREAS, Columbus Next Generation Corporation will perform a variety of services to advance economic development, including but not limited to; creation of economic development plans for specific areas of the city, develop a...
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