City of Gahanna - File #: ORD-0280-2008

• File #: ORD-0280-2008
• Version: 1
• Name: Supp. App./Tax Increment Equivalent Fund
• Type: Ordinance
• Status: Passed
• File created: 12/1/2008
• In control: City Council
• Final action: 12/15/2008
• Title: SUPPLEMENTAL APPROPRIATION - Tax Increment Equivalent Fund
• Indexes: ORDINANCE, SUPPLEMENTAL

Date	Ver.	Action By	Action	Result
12/15/2008	1	City Council	Adopted	Pass
12/1/2008	1	City Council	Introduced

Title

SUPPLEMENTAL APPROPRIATION - Tax Increment Equivalent Fund

Drafter

ils

Body

WHEREAS, funds have been received through TIF agreements for parcels in specific areas; and

WHEREAS, it is unknown at appropriation time what the amount is that the City will be receiving and paying out to reimburse the school district and the developer; and

WHEREAS, real estate settlements have arrived and we now know what these amounts are;

NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF GAHANNA, STATE OF OHIO:

Section 1.  That funding in the amount of NINETY ONE THOUSAND SEVEN HUNDRED SEVENTY EIGHT DOLLARS ($91,778) is hereby supplementally appropriated from the unencumbered, unappropriated balance of the Tax Increment Equivalent Fund to the following accounts:

Account No. 224.343.5831.2, School District

                               Reimbursement, Eastgate TIF                      $  54,523

Account No. 224.343.5830.2, School District

                               Reimbursement, Eastgate/Triangle TIF         $  37,255

Section 2.  That ORD-0001-2008, passed January 2, 2008, 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.