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 not to exceed $1,000,000.00 to provide operating funds to CDDC to advance economic and community development initiatives in the City's downtown.
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, it elevated the quality, vitality, and success of Downtown. CDDC is working with community leaders to update the Strategic Plan to explore affordable housing opportunities, increase office occupancy, re-imagining key development sites, and cultivating connectivity between Downtown and adjacent areas.
EMERGENCY JUSTIFICATION: Emergency legislation is required to allow for immediate execution of the grant agreement, which is necessary to provide administrative support services to stimulate job creation and private investment.
FISCAL IMPACT: Funding is available in the Neighborhood Economic Development fund (2237).
Title
To authorize the Director of the Department of Development to enter into a grant agreement with the Columbus Downtown Development Corporation to provide operating funding to advance economic and community development initiatives in an amount not to exceed $1,000,000.00; to authorize the appropriation and expenditure of up to $1,000,000.00; and to declare an emergency. ($1,000,000.00)
Body
WHEREAS, the Department of Development desires to enter into a Grant Agreement with CDDC to provide operating funding to advance economic and community development initiatives; and
WHEREAS, CDDC is a private, non-profit development corporation with a mission to lead city-changing projects in the heart of O...
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