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 Ohio's capital city; and
WHEREAS, CDDC helped lead the creation of the 2010 Downtown Columbus Strategic Plan; and
WHEREAS, CDDC is working with community leaders on the 2022 Downtown Columbus Strategic Plan to explore expanding affordable housing opportunities, increasing office occupancy, re-imagining key development sites, and cultivating connectivity between Downtown and adjacent areas; and
WHEREAS, this legislation will authorize the Director of Development to execute a Grant Agreement in the amount not to exceed $1,000,000.00 funded from the Neighborhood Economic Development Fund; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development to pass this ordinance as emergency in order to maintain the project schedule for an updated strategic plan for the City's downtown area, thereby preserving the public health, peace, property, safety and welfare; now, therefore
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the Director of the Department of Development is authorized to enter into a grant agreement in the amount of $1,000,000.00 with the Columbus Downtown Development Corporation (“CDDC”) to provide operating funding to advance economic and community development initiatives including updating the City's Downtown Strategic Plan.
Section 2. That from the unappropriated monies and from all monies estimated to come into said fund from any and all sources and unappropriated for any other purpose during the fiscal year ending December 31, 2023, the sum of $1,000,000.00 is appropriated in Fund 2237 (Neighborhood Economic Development Fund), Dept-Div 4402 (Economic Development), in object class 05 (Other Expenditures) per the account codes in the attachment to this ordinance.
Section 3. That the expenditure of $1,000,000.00 or so much thereof as may be needed, is hereby authorized in Fund 2237 (Neighborhood Economic Development Fund), Dept-Div 4402 (Economic Development), in object class 05 (Other Expenditures) per the accounting codes in the attachment to this ordinance.
Section 4. Funds are hereby deemed appropriated and expenditures and transfers authorized to carry out the purposes of this ordinance and the City Auditor shall establish such accounting codes as necessary.
Section 5. That the City Auditor is authorized to make any accounting changes to revise the funding source for all contracts or contract modifications associated with this ordinance.
Section 6. That for the reasons stated in the preamble hereto, which 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 its passage and approval by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes the same.