Explanation
BACKGROUND: This legislation authorizes Columbus City Council to amend Ordinance 2740-2013 which was approved by Columbus City Council on December 2, 2013. Columbus City Council, per the ordinance, authorized the Director of the Department of Development to enter into contract with Finance Fund for the administration of the City’s Neighborhood Commercial Revitalization (NCR) interior improvement grant fund program. Grants from the program are designated specifically for interior renovation of businesses located in the NCR areas. The ordinance authorized Finance Fund to work with the Neighborhood Design Center as the designated organization for intake and evaluation of interior improvements needed for the businesses. The services to be provided, per the ordinance, included program design, marketing, program infrastructure, intake process, credit underwriting, closing, compliance, reporting, accounting, fiscal support, maintenance and servicing. The Director of Development has not entered into contract with Finance Fund for the purpose of administering the NCR interior improvement grant fund program. The program will be administered by the Economic Development Division of the Department of Development, per Columbus City Council approval of the amendment.
Emergency action is requested to allow the Economic Development Division to administer the NCR interior improvement grant fund program to businesses in the NCR areas without further delay.
FISCAL IMPACT: There is no fiscal impact with the amendment of Ordinance 2740-2013. No additional funds are required.
Title
To amend Ordinance 2740-2013, passed on December 2, 2013, to allow the Economic Development Division of the Department of Development to replace the Finance Fund as the administrator of the Neighborhood Commercial Revitalization interior improvement grant fund program; and to declare an emergency.
Body
WHEREAS, Columbus City Council, per Ordinance 2740-2013, authorized the Direct...
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