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SUPPLEMENTAL APPROPRIATION - EASTGATE TRIANGLE TIF DISTRICT.
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WHEREAS, the final property tax settlement has been received from the County Auditor and the Eastgate Triangle TIF District produced more in revenue than anticipated which in turn requires more in expenditures than anticipated; and
WHEREAS, to move the funds to the appropriate accounts requires a supplemental appropriation.
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 ONE HUNDRED AND NINE THOUSAND SIXTY DOLLARS ($109,060) is hereby supplementally appropriated from the unencumbered, unappropriated balance of the TIF Fund 224 to Account No. 224.701.5490, Eastgate Triangle School Compensation.
Section 2. That funding in the amount of EIGHTY TWO THOUSAND SIX HUNDRED AND EIGHTY FIVE DOLLARS ($82,685) is here by supplementally appropriated from the unencumbered, unappropriated balance of the TIF Fund 224 to Account No. 224.701.5850, Eastgate Triangle Developer Repayment.
Section 3. That ORD-0118-2016, passed December 19, 2016, is hereby amended to reflect this supplemental appropriation.
Section 4. That this Ordinance shall be in full force and effect after passage by Council and on date of signature approval by the Mayor.