File #: ORD-0054-2022    Version: 1 Name:
Type: Ordinance Status: Passed
File created: 8/19/2022 In control: City Council
On agenda: Final action: 9/6/2022
Title: AN ORDINANCE AUTHORIZING THE MAYOR TO ENTER INTO AN INFRASTRUCTURE CONSTRUCTION AND LOAN AGREEMENT WITH SCIENCE ONE, LLC, RELATED TO THE EXTENSION OF TECH CENTER DRIVE IN THE CENTRAL PARK AREA OF THE CITY OF GAHANNA, WAIVING SECOND READING AND DECLARING AN EMERGENCY
Attachments: 1. DEV-RPT 8.22.2022, 2. ORD-0054-2022 EXHIBITS A-G -Construction agreement with security deposit Final, 3. EXHIBIT A INSERT -20220629 Tech Center Drive Extension Improvement Plan Ex A, 4. EXHIBIT C INSERT - Promissory Note Final, 5. EXHIBIT D INSERT - SECURITY DEPOSIT Final, 6. EXHIBIT E INSERT - 629 Agreement Ex E, 7. EXHIBIT F INSERT - Jobs and Commerce Agreement Ex F
Related files: ORD-0062-2021, ORD-0045-2022, ORD-0075-2022, ORD-0064-2022
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
9/6/20221 City Council Introduced, Second Reading Waived, and Adopted as an EmergencyPass Action details Meeting details Not available
8/22/20221 Committee of the Whole Recommended for Introduction, Waiver, Adoption as Emergency  Action details Meeting details Not available
TITLE
AN ORDINANCE AUTHORIZING THE MAYOR TO ENTER INTO AN INFRASTRUCTURE CONSTRUCTION AND LOAN AGREEMENT WITH SCIENCE ONE, LLC, RELATED TO THE EXTENSION OF TECH CENTER DRIVE IN THE CENTRAL PARK AREA OF THE CITY OF GAHANNA, WAIVING SECOND READING AND DECLARING AN EMERGENCY
BODY

WHEREAS, the Council previously authorized the Mayor through ORD-0062-2021 to enter into a Development Agreement with Science One, LLC, for the construction of a 178,000 +/- square foot facility on Science Boulevard related to the expansion of ADB Safegate's operations in the City; and

WHEREAS, related to this project, the Department of Economic Development secured grant funding from the Ohio Department of Transportation (ODOT) and Ohio Department of Development (ODOD) to support the extension of Tech Center Drive to serve this new building; and

WHEREAS, the Council previously authorized the Mayor through ORD-0045-2022 to pursue funding through the State Infrastructure Bank (SIB) to serve as interim financing for this project, as the procured grant funds are reimbursement-based; and

WHEREAS, the Administration has previously proposed utilizing up to $250,000 from the TIF Fund to support this project; and

WHEREAS, due to upsizing of infrastructure to support redundancy within the City's water system, the Administration is proposing utilization of $85,100 from the City's water fund to support this extension; and

WHEREAS, remaining costs will be the responsibility of the Developer/Constructing Party and funds to support the repayment of the loan will be held in escrow by the City and repaid to ODOT at the earliest time possible to avoid pre-payment penalties; and

WHEREAS, the proposed Infrastructure Construction and Loan Agreement denotes the commitments of parties and enumerates Science One, LLC's costs and public procurement responsibilities associated with road and infrastructure extension; and

WHEREAS, the work will be guaranteed by Science One, LLC via Promissory Note and Securit...

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