Explanation
Background: This legislation authorizes the expenditure of up to $35,000 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 legislation authorizes the Director of Development to enter into a grant agreement with Burwell Investments, LLC for Brownfield assessment and redevelopment of the site at 115 East 5th Avenue, subject to the project attaining Brownfield assessment and redevelopment goals of the program and meeting the terms and conditions of the agreement. It authorizes the expenditure of up to $35,000 in order to perform a Tier I Evaluation on the site in order to achieve a required NFA from BUSTR. This is the last step in the BUSTR process and will allow the site to be fully developed as multi-family residential.
Emergency action is requested so that the Brownfield assessment work can be completed in a timely manner.
Fiscal Impact: Cash is available in the 2016 Capital Improvements Budget in the Green Columbus Fund portion of Fund 7735, identified as the Green Columbus Initiatives Fund.
Emergency Justification: Emergency legislation is required to allow for immediate execution of the Green Columbus Fund Agreement, which is necessary to facilitate the assessment and remediation of the property to maintain the project schedule and to coincide with the established development timeline
Title
To authorize the Director of the Department of Development to enter into a Brownfield grant agreement with Burwell Investments, LLC to perform a Tier I Evaluation on the site pursuant to the Green Columbus Fund Program; to authorize the expenditure of up to $35,000....
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