Explanation
Background: The City of Columbus maintains and operates Dorrian Green Park and the parking garage immediately West of COSI along with the building that COSI operates which is located at 333 W. Broad St., Columbus, Ohio, 43215. The City has determined that it is in their best interest to enter into an agreement with the Franklin County Historical Society (dba COSI) for the purposes of operational subsidy assistance related to the newly constructed parking garage, parking garage management agreement, and surrounding grounds. In order to offset any loss of revenue related to the parking project and new management agreement, it is necessary for the City and COSI to enter into this subsidy agreement for the purposes of setting forth the terms and conditions therein.
Ordinance No. 2652-2017 authorized the Director of Finance and Management to enter into agreement for management of the parking garage with Capitol South Community Urban Redevelopment Corporation.
This ordinance authorizes the transfer from fund 1000 to fund 2285 and appropriation in the amount of $150,000.00 in order to provide funding for this subsidy.
Principal Parties:
Franklin County Historical Society (dba COSI)
Contract Compliance is #314383802
This is a non-profit organization.
Fiscal Impact: $150,000.00 will be transferred to and available from and within the 2019 Recreation and Parks Operating Fund 2285 as part of this ordinance to meet the financial obligation of this agreement.
Emergency Justification: This ordinance is written as emergency in order for payment to be made in 2019.
Title
To authorize and direct the Director of Recreation and Parks to enter into an agreement with the Franklin County Historical Society (dba COSI) for the purpose of providing a subsidy payment to COSI; to authorize the transfer of $150,000.00 from the General Fund to the Recreation and Parks Operating Fund; to authorize the appropriation of $150,000.00 within the Recreation and Parks...
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