Explanation
BACKGROUND: Ordinance 1968-2012, passed by City Council on October 10, 2012, authorized the Mayor of the City of Columbus to create and establish a nonprofit corporation, Columbus Next Generation Corporation, to advance, encourage and promote industrial, economic and commercial development as well as eliminate blight and create jobs. This ordinance authorizes an agreement between the Department of Public Utilities and Columbus Next Generation Corporation for the purchase of real property assets in the Linden area. The land is planned for the creation of a stormwater bio-retention facility and green space as part of the Blueprint Columbus plan.
Next Generation Columbus Corporation: TAX ID 46-2621229, DAX # 008637
EMERGENCY: Emergency action is necessary to allow the purchase of properties as soon as possible in order to facilitate redevelopment in support of Blueprint Columbus projects in the Linden area.
FISCAL IMPACT: This legislation authorizes transfer of and expenditure within the Storm Recovery Zone - Super Build America Bond Fund 6202 and amends the 2018 Capital Improvement Budget.
Title
To authorize the Director of the Department of Public Utilities to enter into a funding agreement with Columbus Next Generation Corporation to acquire real property assets in the Linden area; to authorize the transfer of $233,202.70 and the expenditure of up to $275,000.00 within the Storm Recovery Zone - Super Build America Bond Fund; and to declare an emergency. ($275,000.00)
Body
WHEREAS, Ordinance 1968-2012, passed by City Council on October 10, 2012, authorized the Mayor of the City of Columbus to create and establish a nonprofit corporation to advance, encourage and promote industrial, economic and commercial development as well as eliminate blight and create jobs; and
WHEREAS, the City registered with the Ohio Secretary of State to create the Columbus Next Generation Corporation on October 10, 2012; and
WHEREAS, Columbus Next Generatio...
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