Explanation
BACKGROUND: This legislation authorizes the expenditure of $200,000 for a Brownfield grant award pursuant to the Green Columbus Fund established by Ordinance 1462-2010, which was later amended and replaced by Ordinance 1931-2012.
The Green Columbus Fund represents the City's commitment to foster sustainable building through LEED certification and to foster sustainable Brownfield assessment and redevelopment. The program will produce economic, environmental and social benefits for Columbus and its residents.
This Ordinance replaces Ordinance 0572-2013, which was passed by City Council on March 18, 2013. That previous ordinance and this replacement ordinance both apply to work at the same site, are for similar though not identical projects, and both ordinances authorize up to the same $200,000 maximum dollar amount of grant funding. The previous developer/grantee was unable to attain full funding to perform the contemplated Brownfield Physical Phase II activities and hotel redevelopment. The previous grantee relinquished the undertaking to UPH Holdings, LLC, which is jointly owned by Continental Real Estate Companies and Concord Hospitality.
This legislation authorizes the Director of Development to enter into a grant agreement with UPH Holdings, LLC, for Brownfield assessment and redevelopment of the site at 3110 Olentangy River Road, subject to the project attaining Brownfield assessment and redevelopment goals of the program and meeting the terms and conditions of the agreement. It also authorizes the expenditure of up to $200,000 in order to remove asbestos contaminated materials and perform other Brownfield Physical Phase II activities, so that hotel redevelopment can proceed. The end result will be a full-service Marriott flagged hotel with approximately 250 rooms, and a Residence Inn by Marriott with approximately 100 rooms.
Emergency action is requested so that the corrective action work can be completed in a timely manner.
FISCAL IMPA...
Click here for full text