Explanation
1. BACKGROUND
This legislation authorizes the Director of the Department of Development to enter into an agreement with Out of Town LLC. The funds provided by the agreement will be used for the development of a multifamily residential project comprised of forty-five (45) units. The project will be located on the City-owned property located at the intersection of West Town Street and Mead Alley in Franklinton. The agreement will provide funding for architectural and civil engineering services for the design of the project. The cost of these services is approximately one hundred thirty-five thousand, seven hundred thirty dollars and twenty-nine cents ($135,730.29).
Emergency action is necessary to allow for Out of Town to continue its design and construction process without interruption.
FISCAL IMPACT: The funding for this contract ($135,730.29) is fully budgeted within the 2017 Capital Improvement Budget within the Development Taxable Bonds Fund.
Title
To authorize the Director of the Department of Development to enter into a grant agreement with Out of Town LLC to provide funding for the design of a multifamily development comprised of forty-five (45) residential units, which will be located on the City-owned property at the intersection of West Town Street and Mead Alley in Franklinton; and to declare an emergency.
Body
WHEREAS, this legislation authorizes the Director of the Department of Development to enter into a grant agreement with Out of Town LLC; and
WHEREAS, the funds provided by the grant agreement will be used to assist Out of Town LLC with architectural and civil engineering services for the design of a multifamily residential project located in Franklinton; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development, Economic Development Division, in that it is immediately necessary to authorize the Director to enter into a grant agreement with Out of Town LLC in order to continue its design and construction process without interruption and to expend said funds, thereby preserving the public health, peace, property, safety, and welfare; and NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the Director of the Department of Development be and is hereby authorized to enter into a grant agreement with Out of Town LLC to provide for the design of a multifamily residential project located in Franklinton.
SECTION 2. That the 2017 Capital Improvements Budget authorized by Ordinance 1124-2017 be and is hereby amended to provide sufficient budget authority for the appropriate projects authorized within this ordinance as follows:
Fund / Project / Project Name / C.I.B. / Change / C.I.B. as Amended
7739 / 782004-100000/ Vacant Housing Demolition (Unvoted Carryover)/ $524,186.00 / ($135,730.29) / $388,455.71
7739 / 441766-100000 / Out of Town on West Town/ $0 / $135,730.29.00/ $135,730.29
SECTION 3. That the transfer of $135,730.29, or so much thereof as may be needed, is hereby authorized between projects within Fund 7739 Development Taxable Bond Fund per the account codes in the attachment to this ordinance.
SECTION 4. That the expenditure of $135,730.29, or so much thereof as may be needed, is hereby authorized in Fund 7739 Development Taxable Bond Fund in Object Class 06 Capital Outlay per the accounting codes in the attachment to this ordinance.
SECTION 5. That the funds necessary to carry out the purpose of this ordinance are hereby deemed appropriated, and the City Auditor shall establish such accounting codes as necessary.
SECTION 6. That the City Auditor is authorized to make any accounting changes to revise the funding source for all contracts or contract modifications associated with this ordinance.
SECTION 7. That the City Auditor is hereby authorized to transfer the unencumbered balance in a project account to the unallocated balance account within the same fund upon receipt of certification by the Director of the Department administering said project that the project has been completed and the monies are no longer required for said project.
SECTION 8. That for reasons stated in the preamble hereto, which is hereby made a part hereof, this Ordinance is hereby declared to be an emergency measure and shall take effect and be in force from and after its passage and approval by the Mayor or ten (10) days after passage if the Mayor neither approves nor vetoes the same.