Explanation
BACKGROUND: On November 4, 2013 City Council approved Ordinance 2529-2013 authorizing the Director of Development to enter into an annexation agreement with the Board of Trustees of Franklin Township, the legislative authority of and for Franklin Township. The City and the Township have contiguous boundaries and overlapping jurisdictions within Franklin County. In order to advance the welfare of the citizens for the respective jurisdictions, the parties desire to cooperate by fostering and promoting development which is compatible with the character of the area, while also preserving the geographic integrity of the Township.
The annexation agreement outlines Annexation payments as well as areas of cooperation including joint land use planning to ensure coordination on projects, joint marketing to advance economic development and coordination of capital improvement projects along the West Broad Street Corridor.
FISCAL IMPACT: This legislation authorizes quarterly payments not to exceed $150,000 for the period January 1, 2015 through December 31, 2015 made to the Board of Trustees of Franklin Township as set forth in the Annexation Agreement with the Board of Trustees of Franklin Township authorized by Ordinance 2529-2013 and approved by City Council on November 4, 2013. Funding is contingent on the passage of the General Fund operating budget, ordinance 2620-2014.
Title
To authorize quarterly expenditures in an amount equal to the percentages set forth in the Annexation Agreement with the Board of Trustees of Franklin Township authorized by Ordinance 2529-2013 and approved by City Council on November 4, 2013 and not to exceed $150,000.00; to authorize and direct the City Auditor to transfer an amount not to exceed $150,000.00 within the General Fund; and to authorize an expenditure of an amount not to exceed $150,000.00 from the General Fund for the period January 1, 2015 through December 31, 2015. ($150,000.00)
Body
WHEREAS, the City and th...
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