Explanation
BACKGROUND: This legislation authorizes the Director of the Department of Development to enter into an agreement with RM Biltrite LLC and Watkins Road LLC in order to assist in the renovations of a vacant industrial warehouse distribution facility on Columbus’ south side by contributing in the cost of upgrading waterlines to serve a new fire suppression system. Renovations include, but are not limited to, internal retro-fitting for the manufacture of rubber sheeting, matting, flooring, thermoplastics and a wide variety of industrial rubber products, and installation of safety features.
The City is committing funds from the 2019 Capital Improvement Budget ($275,000.00) to the fire suppression system and new waterline access. Renovations are scheduled to be completed within the time period of the agreement.
Emergency legislation is necessary in order to commence the renovation in a timely manner.
FISCAL IMPACT: Funds for this project are included in the 2019 Capital Improvements Budget, in Fund 7739 Development Taxable Bonds. An amendment of the 2019 Capital Improvement Budget and a transfer of cash between projects is necessary to align spending within the associated project.
Title
To amend the 2019 Capital Improvement Budget; to authorize the Director of the Department of Development to enter into an agreement with RM Biltrite LLC and Watkins Road LLC in order to contribute to the cost of new waterline access to serve a new fire suppression system on Watkins Road; to authorize and direct the City Auditor to transfer cash and appropriation between projects within the Development Taxable Bond Fund; to authorize the expenditure of $275,000.00 from the Development Taxable Bond Fund; and to declare an emergency ($275,000.00).
Body
WHEREAS, the Director of the Department of Development desires to enter into an agreement with RM Biltrite LLC and Watkins Road LLC in order to contribute funds for waterline upgrades that will serve a new fire suppre...
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