Explanation
1. BACKGROUND
This ordinance authorizes the Director of Public Service to enter into reimbursement agreements with OhioHealth Corporation (the “Developer”) in an amount of up to $3,877,000.00 for costs associated with the design and construction of the OhioHealth public infrastructure improvement projects (the “Projects”).
The Developer is building an $89 million administrative operations facility in the northwest area of Columbus in the vicinity of State Route 315, West North Broadway, and Olentangy River Road. In support of the new facility, the City and the Developer entered into an Economic Development Agreement on March 20, 2017, pursuant to Ordinance No. 2237-2016, by which the parties agreed to coordinate the funding, design and construction of the Projects.
The purpose of this legislation is to provide for the reimbursement of up to $3,877,000.00 to the Developer for costs relative to the design and construction of the Projects.
2. CONTRACT COMPLIANCE
OhioHealth Corporation will be required to become contract compliant before entering into agreement with the City.
3. FISCAL IMPACT
Funds in the amount of $3,877,000.00 are available for this project in the Streets and Highways Bond Fund within the Department of Public Service. An amendment to the 2017 Capital Improvements Budget is necessary for the purpose of providing sufficient spending authority for the aforementioned project expenditure.
4. EMERGENCY DESIGNATION
Emergency action is requested to allow for the timely execution of the requisite reimbursement agreements between the Director of Public Service and the Developer necessary to facilitate the proposed improvements in order to maintain the project schedule and to meet community commitments.
Title
To amend the 2017 Capital Improvements Budget; to authorize the Director of Public Service to enter into reimbursement agreements with OhioHealth Corporation in connection with the OhioHealth public infrastructure improvement pro...
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