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AN ORDINANCE AUTHORIZING SUPPLEMENTAL APPROPRIATIONS AND WAIVING SECOND READING - Tech Ctr Security Deposit Fund
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WHEREAS, appropriations were established in the Capital Improvement Fund, Central Park TIF, and Water Capital Fund for the extension of Tech Center Drive for the construction of associated waterline improvements; and
WHEREAS, the $1,500,000 security deposit from the developer was to be used to repay a State Infrastructure Bank (SIB) loan but is now to be used for the construction cost; and
WHEREAS, the grant reimbursements consisting of $357,183, Central Park TIF PILOTs consisting of $250,000, and Water Capital Fund revenue consisting of $85,100 will be used to reimburse the developer for a portion of the construction costs; and
WHEREAS, the Administration requests a waiver of second reading in order to ensure that the changes can be made in Fiscal Year 2022.
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 six hundred ninety-two thousand two hundred eighty-three dollars ($692,283) is hereby supplementally appropriated from the unencumbered, appropriated balance of the Tech Ctr Security Deposit Fund 4320 as follows:
432.06.00.5205 Tech Ctr Security Deposit Fund Contract Services: $692,283
Section 2. That the second reading is hereby waived.
Section 3. That this Ordinance shall be in full force and effect after passage by Council and on date of signature of approval by the Mayor.