Explanation
Background:
This ordinance appropriates and transfers $390,595.71 from the existing Gowdy Field TIF Fund 437 to the Recreation and Parks Department for the support of various projects in planning area 13. This ordinance will also authorize the future appropriation and transfer of $109,404.29 from the same TIF Fund 437 as part of $500,000.00 commitment established by Ordinance #2079-2005.
Financial Impact: The City Auditor is directed to transfer and appropriate $500,000.00 from the Gowdy Field TIF Fund to the Recreation and Parks permanent improvement fund 747.
Emergency Justification: Emergency action is requested so that funds are available for necessary expenditures before the end of the year.
Title
To authorize the current appropriation and transfer of $390,595.71 from the Gowdy Field TIF Fund 437 to the Recreation and Parks Permanent Improvement Fund 747 for the support of various projects in planning area 13; to authorize the appropriation and transfer of $109,404.29 from the Gowdy Field TIF Fund 437 at a later date as TIF funding in Fund 437 becomes available; and to declare an emergency. ($500,000.00)
Body
WHEREAS, the Department of Development established Gowdy Field TIF Fund 437 by authorization of Ordinance #2079-2005, which passed City Council 12/12/2005; and
WHEREAS, the Department of Recreation and Parks has committed to development in planning area 13 using the TIF Fund 437; and
WHEREAS, the city authorizes the appropriation and transfer of $500,000.00 to the Department of Recreation and Parks to support various projects in planning area 13; and
WHEREAS, the current balance available for transfer is $390,595.71 and therefore the balance of $109,404.29 will be transferred as funds become available; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Recreation and Parks in that it is immediately necessary to appropriate said funds so that they are available for necessary expenditures before the end of the year; and, NOW THEREFORE
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That from the unappropriated monies in the City's Gowdy Field TIF Fund No. 437, and from all monies estimated to come into said Fund from any and all sources ending December 31, 2014, the sum of $390,595.71 is hereby appropriated as follows:
OCA: 437001 Obj. Level 03: 5501 Amount $390,595.71
SECTION 2. That the City Auditor be and is hereby authorized and directed to transfer $390,595.71 from the Gowdy Field TIF Fund 437 to the Recreation and Parks Permanent Improvement Fund as follows:
FROM:
Fund No. OCA Code Obj. Level 3 Amount
437 437001 5501 $390,595.71
TO:
Fund No Project OCA Code Obj Level 3 Amount
747 510025-100015 510915 0886 $390,595.71
SECTION 3. That from the unappropriated monies in the Recreation and Parks Operating Fund No. 285, and from all monies estimated to come into said fund from any and all sources and unappropriated for any other purpose during the fiscal year ending December 31, 2014, the sum of $390,595.71 is appropriated to the Recreation and Parks Department No. 51-01 as follows:
Fund Project OCA Obj. Level 3 Amount
747 510025-100015 510915 6621 $390,595.71
SECTION 4. Any such future deposits as the City may receive are hereby deemed to be appropriated, and the City Auditor is hereby authorized to pay such amounts thereof, in accordance with payments made according to the agreements in place for the Gowdy Field TIF Fund 437.
SECTION 5. That for 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 10 days after passage if the Mayor approves nor vetoes the same.