Explanation
1. BACKGROUND
This ordinance authorizes the Director of Public Service to enter into a cooperative right-of-way acquisition agreement with Delaware County, Ohio, relative to the Intersection - E. Powell Road and Lyra Drive project.
The aforementioned effort encompasses the extension of Lyra Drive to East Powell Road and the construction of a roundabout at that intersection and will be completed pursuant to a Public-Private Partnership (3P) with NP Capital Management Corporation (the “Developer”) to facilitate the construction of certain public infrastructure improvements in the Polaris area.
A portion of the planned improvements will benefit Delaware County, which will acquire the right-of-way attributable to the project, including that within the corporate limits of Columbus. The City has agreed to reimburse the County a portion of the right-of-way acquisition costs, up to $250,000.00, using funds deposited with the City by the Developer.
2. FISCAL IMPACT
Funding in the amount of $250,000.00 is available in the Street & Highway Improvements Non-Bond Fund, Fund 7766, to support this expenditure. An amendment to the 2020 Capital Improvement Budget is necessary for the purposes of matching cash and providing budget authority for a deposit received from NP Capital Management Corporation in the amount of $250,000.00 for the acquisition of right-of-way for this project. It is necessary to transfer funds within Fund 7766 so this deposit is moved to the proper project number for the expenditure. The aforementioned sum also will need to be appropriated.
3. EMERGENCY DESIGNATION
Emergency action is requested to facilitate the execution of the agreement as soon as reasonably practicable to meet the schedule set with Delaware County and the Developer for acquisition of the needed right-of-way.
Title
To amend the 2020 Capital Improvement Budget; to transfer cash between projects within the Street & Highway Improvements Non-Bond Fund; to authorize the ap...
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