Explanation
1. BACKGROUND
This ordinance authorizes the Director of the Department of Public Utilities to apply for loans directly through the Ohio Water Development Authority (OWDA) to finance Department of Public Utilities capital improvement projects, to accept the loan funding if offered under terms agreeable to the City of Columbus, and to execute the documents needed to accept the loans. This ordinance also requests that new Fund Numbers be established by the Auditor’s Office and the Director of the Department of Finance and Management for the financial tracking of these loans.
The OWDA’s mission is to provide financial assistance for environmental infrastructure from the sale of municipal revenue bonds through loans to local governments in Ohio. These loans are available at interest rates below what the City can obtain through a bond sale. Not all Department of Public Utilities projects meet the OWDA requirements to be eligible for loans. The Department of Public Utilities has been in discussions with OWDA concerning projects expected to need funding through 3/31/24 and determined the following projects appear to qualify to be funded through the OWDA Direct loan program:
Project Number Project Name Project Phase Estimated Cost
610910-100002 Franklinton Area Storm Sewer Rehabilitation Construction Administration & Inspection $650,000.00
611031-100000 ST-21, ST-22, ST-23 Improvements Engineering Contract Modification $650,000.00
611037-100000 Krieger Court Stormwater Improvements Construction Administration & Inspection $558,000.00
611040-100000 Barnett Road Stormwater Improvements Project Construction Administration & Inspection $570,000.00
650033-100002 Big Walnut Sanitary Trunk Extension, Phase 2 Construction Administration & Inspection $3,800,000.00
650033-100002 Big Walnut Sanitary Trunk Extension, Phase 2 Engineering Contract Modification $1,500,000.00
650234-100200 DOSD Roof Replacements, No. 3 Construction $3,000,000.00
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