Explanation
Background: This legislation authorizes the expenditure of up to $200,000 for a Brownfield grant award pursuant to the Green Columbus Program 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 The Gravity Project, LLC for Brownfield abatement and redevelopment of the site at 500 W. Broad Street, Columbus, Ohio. It authorizes the expenditure of up to $200,000 in order to allow for Brownfield remediation activities at the site. This will allow the site to be redeveloped as a mixed-use site that includes Class-A commercial office space, multi-family residential and retail uses.
Fiscal Impact: Cash is available in the 2017 Capital Improvements Budget in the Green Columbus Fund portion of Fund 7735, identified as the Green Columbus 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 The Gravity Project, LLC for Brownfield abatement and redevelopment pursuant to the Green Columbus Fund Program; to authorize the expenditure of up to $200,000.00 from the Green Columbus Fund; and to declare an emergency. ($200,000.00)
Body
WHEREAS, the Department of Development administers the Green Columbus Fund, established by Ordinance 1462-2010 and later amended and replaced by Ordinance 19...
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