Explanation
Background: This legislation authorizes the expenditure of up to $18,360 for a LEED 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 Indus Hotels 77, LLC for LEED certification review fees for the development on the site at 77 East Nationwide Boulevard, subject to the project attaining LEED certification and meeting the terms and conditions of the agreement. It authorizes the expenditure of up to $18,360 in order to reimburse expenses paid to the Green Building Certification Institute for review fees. This will allow the site to be redeveloped as a LEED certified hotel. Emergency action is requested so that the LEED certification process 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 LEED certification 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 LEED grant agreement with My Indus Hotels 77, LLC to pursue LEED certification on the site pursuant to the Green Columbus Fund Program; to authorize the expenditure of up to $18,360.00 from the Northland and Other Acquisitions Fund; and to declare an emergency. ($18,360.00)
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