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 City and the County, the City has pledged and agreed to transfer to the Franklin County Convention Facilities Authority all Hotel-Motel Excise Taxes (as defined in City Code Chapter 371) generated by the hotel expansion project to the Franklin County Convention Facilities Authority, to pay debt service on revenue obligations issued by the Franklin County Convention Facilities Authority to finance the expanded hotel; and
WHEREAS, hotel expansion has been recently completed and it is necessary to authorize the deposit and remittance of related Hotel/Motel Excise Tax proceeds; and
WHEREAS, it is necessary to amend Columbus City Code Sections 371.02(d)(1), 371.02(d)(3), and 371.18 to revise the definition in connection with the recent completion of the hotel expansion project; and
WHEREAS, an emergency exists in the usual daily operations of the Department of Finance and Management in that it is immediately necessary 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, as soon as possible so that necessary Hotel/Motel Excise Tax proceeds can be can be administered promptly, thereby preserving the public health, peace, property, safety; NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the City Auditor is hereby authorized to deposit Hotel/Motel Excise Taxes related to the Greater Columbus Convention Center Hotel, as defined in Columbus City Code Chapter 371 and to remit certain of these Hotel/Motel Excise Tax proceeds to the Franklin County Convention Facilities Authority, pursuant to the Cooperative Agreement, dated January 1, 2010 and the First Supplement to the Cooperative Agreement entered into May 1, 2019.
SECTION 2. That Columbus City Code Sections 371.02(d)(1), 371.02(d)(3) and 371.18 are hereby amended pursuant to the attached Exhibit A:
Exhibit A - 371 amendment
SECTION 3. That the previously existing Sections 371.02(d)(1), 371.02(d)(3) and 371.18 are hereby repealed.
SECTION 4. That for the reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is hereby declared to be an emergency measure and shall take effect and be in force from and after the earliest period allowed by law passage and approval by the Mayor, or ten days after passage if the Mayor does not approve the same.