TITLE
AN ORDINANCE AUTHORIZING A SUPPLEMENTAL APPROPRIATION - Central Park TIF and Water Capital Funds for Transfers Out
BODY
WHEREAS, Council previously approved and later amended agreements related to Tech Center Extension with Science One on December 5, 2022 through ORD-0075-2022; and
WHEREAS, agreements included changes to appropriations involving transfers out of the Central Park TIF in the amount of $250,000 and out of the Water Capital Fund in the amount of $85,100 to cover the City’s portion of the project; and
WHEREAS, these funds were to be transferred to the Tech Center Fund 4320; and
WHEREAS, these appropriations lapsed at year end and the transfers were not made before the close of the year; and
WHEREAS, these transfers must now be reappropriated in accordance with the agreements adopted on December 5, 2022, to reimburse the developer for the City’s portion of the project.
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 two hundred fifty thousand dollars ($250,000) is hereby supplementally appropriated from the unappropriated, unencumbered balance of the Central Park TIF Fund (2240) to the account as follows:
224.11.080.5900 Central Park Transfer Out: $250,000
Section 2. That funding in the amount of eighty-five thousand one hundred dollars ($85,100) is hereby supplementally appropriated from the unappropriated, unencumbered balance of the Water Capital Fund (6520) to the account as follows:
652.11.000.5900 Water Capital Transfer Out: $85,100
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.