Explanation
Background: This ordinance authorizes the City Auditor to deposit Hotel/Motel Excise Taxes (City Excise Tax) related to the Greater Columbus Convention Center Hotel, as defined in Columbus City Code Chapter 371 and to remit such funds (City Project Excise Tax Proceeds) to the Franklin County Convention Facilities Authority (Authority), pursuant to the Cooperative Agreement, dated January 1, 2010 and the First Supplement to the Cooperative Agreement entered into May 1, 2019. This ordinance also amends Columbus City Code Sections 371.02(d)(1), 371.02(d)(3), and 371.18 to expand the definition in connection with the recent completion of the hotel expansion project.
Fiscal Impact: No appropriation or expenditure of funds is requested via the ordinance.
Emergency action is requested so that the necessary authority can be granted to the City Auditor and that City Code definitions can be amended to allow for the remittance of funds in accordance with the First Supplement to the Cooperative Agreement.
Title
To authorize the City Auditor to deposit Hotel/Motel Excise Taxes (City Excise Tax) related to the Greater Columbus Convention Center Hotel, as defined in Columbus City Code Chapter 371; to authorize the City Auditor to remit certain Hotel/Motel Excise Tax proceeds (City Project Excise Tax Proceeds) to the Franklin County Convention Facilities Authority (Authority), pursuant to the Cooperative Agreement, dated January 1, 2010 and the First Supplement to the Cooperative Agreement entered into May 1, 2019; to amend various sections of Columbus City Code Chapter 371 to revise the definitions in connection with the recent completion of the hotel expansion project; and to declare an emergency.
Body
WHEREAS, under the Cooperative Agreement as amended and supplemented by the First Supplement (First Supplement), and consistent with the Memorandum of Understanding dated as of May 31, 2018 among the Franklin County Convention Facilities Authority, the ...
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