Explanation
1. BACKGROUND
This legislation will authorize the Director of Public Service to return unused funds to Nationwide Realty Investors, Ltd (NRI) and the City of Columbus Department of Public Utilities Division of Sewerage and Drainage - Sanitary.
Ordinance 2747-2012 passed March 4, 2013, authorized the construction of the Roadway Improvements - Grandview Yard - Third Avenue Improvements - Phase 1 project utilizing funds from the City of Columbus Division of Sewerage and Drainage - Sanitary, NRI, and grant funds from the Ohio Public Works Commission.
The project was completed. Final accounting reconciliation determined the cash remaining in the grant, $819,424.96, is to be distributed between the original funding sources as follows: the City of Columbus Division of Sewerage and Drainage - Sanitary ($484,328.73) and NRI ($335,096.23).
A portion of NRI’s deposit ($0.34) remains in Fund 766 and is to be returned.
2. FISCAL IMPACT
Funds in the amount of $819,424.96 remain in the grant account and are available for distribution. Funds in the amount of $0.34 remain in Fund 766 Project 530161-100138 and are available for distribution. No additional funds are necessary.
3. EMERGENCY DESIGNATION
Emergency action is requested for proper accounting practices and to allow the refunds to be made as quickly as possible.
Title
To authorize the City Auditor to appropriate funds within the State Issue II Street Projects Fund and within the Street and Highway Improvement (Non-Bond) Fund; to authorize the City Auditor to transfer cash and appropriation within the State Issue II Street Projects Fund; to authorize the City Auditor to transfer cash and appropriation between projects to reimburse unused grant funds to City departments; to authorize the City Auditor to appropriate and expend funds to repay Nationwide Realty Investors, Ltd for unused funds in connection with the Roadway Improvements - Grandview Yard - Third Avenue Improvements - Phase 1; and to decl...
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