TITLE
AN ORDINANCE AUTHORIZING SUPPLEMENTAL APPROPRIATIONS - Developers Escrow Fund
BODY
WHEREAS, the City has established fees for development projects within the city to be held by the City to ensure proper supervision and inspection of projects; and
WHEREAS, upon completion of a project, any funds remaining are returned to the developer; and
WHEREAS, the City has also established fees to ensure the completion of driveways and sidewalks for construction projects within the city when it is not feasible to complete them immediately; and
WHEREAS, once the sidewalk and driveway installations are complete, funds are either returned or if the contractor is unable to complete them, the City will utilize the funds to install the sidewalks and driveways; and
WHEREAS, private construction projects for the year have exceeded original budget estimates, created more revenue than anticipated, and in turn, more expenditures.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF GAHANNA, COUNTY OF FRANKLIN, STATE OF OHIO:
Section 1. That funding in the amount of three hundred thousand dollars ($300,000) be and hereby is supplementally appropriated from the unappropriated, unencumbered balance of the Developers Escrow Fund 8600 as follows:
860.11.000.5205 - Developers Escrow Contract Services: $250,000
860.11.450.5205 - Right of Way Escrow Contract Services: $50,000
Section 2. That this Ordinance shall be in full force and effect after passage by Council and on date of signature of approval by the Mayor.