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File #: 1480-2022    Version: 1
Type: Ordinance Status: Passed
File created: 5/17/2022 In control: Economic Development Committee
On agenda: 6/6/2022 Final action: 6/9/2022
Title: To authorize the Director of Development to enter into a Grant Agreement with the Columbus Downtown Development Corporation in an amount up to $2,500,000.00 for the purpose of purchasing, renovating and or constructing urban real property assets in targeted central city areas to advance economic and community development initiatives; and to declare an emergency. ($2,500,000.00)
Attachments: 1. 1480-2022 ED CDDC Bond
Explanation
BACKGROUND
This legislation authorizes the Director of the Department of Development to enter into a Grant Agreement with Columbus Downtown Development Corporation in an amount up to $2,500,000 for the purpose of purchasing, renovating and or constructing urban real property assets in targeted central city areas to advance economic and community development initiatives.

Columbus Downtown Development Corporation (CDDC) is a private, non-profit development corporation with a mission to lead city-changing projects in the heart of Ohio's capital city. CDDC helped lead the creation of the 2010 Downtown Columbus Strategic Plan. This plan established a thoughtful roadmap, and together, we elevated the quality, vitality, and success of Downtown. Now, 12 years later, CDDC is working with community leaders on the 2022 Downtown Columbus Strategic Plan will explore expanding affordable housing opportunities, increasing office occupancy, reimagining key development sites, and cultivating connectivity between Downtown and adjacent areas.

EMERGENCY: Emergency action is requested to begin the purchase of properties as soon as possible in order to facilitate the redevelopment of key urban areas.

FISCAL IMPACT: Funding is available in Fund 7739, P440104-100024 with in the 2021 Capital Improvement Budget.

CONTRACT COMPLIANCE: the vendor number is 010217 and renewal is pending.

Title
To authorize the Director of Development to enter into a Grant Agreement with the Columbus Downtown Development Corporation in an amount up to $2,500,000.00 for the purpose of purchasing, renovating and or constructing urban real property assets in targeted central city areas to advance economic and community development initiatives; and to declare an emergency. ($2,500,000.00)

Body
WHEREAS, the Department of Development desires to enter into a Grant Agreement with CDDC for the purpose of purchasing, renovating and or constructing urban real property assets in targeted central ...

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