Explanation
1. BACKGROUND
This ordinance authorizes the Director of Public Service to execute a Construction Guaranteed Maximum Reimbursement Agreement (the "Agreement") relative to the completion of the Roadway - Reach Boulevard & Generations Pass and SR 315 project (the “Project”) with White Castle Management Company in an amount of up to $1,097,806.68. This ordinance also authorizes the appropriation, transfer, and expenditure of the Project Funding in accordance with the Agreement.
The aforementioned Project will culminate in the construction of a new public roadway and other public infrastructure improvements, including intersection improvements at West Goodale Street, Reach Boulevard, and S.R. 315, and additional turn lanes to the S.R. 315 exit ramps at that intersection.
Pursuant to Ordinance 1602-2017, City Council authorized the City, acting through the Department of Development, to enter into an Economic Development Agreement dated October 26, 2017 (the “EDA”) with White Castle Management Company (“White Castle” or the “Developer”) to memorialize their understanding and agreements with respect to the redevelopment of the White Castle headquarters, located at 555 W. Goodale Street (the “Project Site”). Pursuant to the EDA, the City and the Developer agreed to partner on the construction of public infrastructure improvements on and near the Project Site.
2. CONTRACT COMPLIANCE
The contract compliance number for White Castle Management Company is CC029299, which expires September 13, 2021.
3. FISCAL IMPACT
The funds necessary to reimburse the Developer will be derived from a recent grant award and TIF proceeds designated for that purpose. Pursuant to Ordinance 3316-2019, the City accepted a $150,000.00 JCED grant from the Ohio Department of Transportation (“ODOT”) for costs associated with the construction of improvements to the SR 315 North exit ramp to Goodale Street. The City previously established the Gowdy Field TIF near the Project Site p...
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