Title
SUPPLEMENTAL APPROPRIATION - TIZ Escrow Fund
Drafter
dj/ils
Body
WHEREAS, the City pays for real estate tax payments on the City owned properties within the Industrial Zone (TIZ) out of the TIZ Escrow Fund; and
WHEREAS, a majority of the properties have been transferred to new owners, but there are a few that the City still pays, and this amount was underestimated and additional funds are needed;
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF GAHANNA, STATE OF OHIO:
Section 1. That funding in the amount of SIXTY SIX THOUSAND EIGHT HUNDRED THIRTY FIVE DOLLARS ($66,835) is hereby supplementally appropriated from the unencumbered, unappropriated balance of the TIZ Escrow Fund to Account No. 870.135.5299, Tax Payments.
Section 2. That ORD-0001-2011, passed January 3, 2011, is hereby amended to reflect this supplemental appropriation.
Section 3. That this ordinance shall be in full force and effect after passage by this Council and on date of signature approval by the Mayor.