Label
Amended
Critical Assessments for Spitzer and Nicholas Buildings
Department of Economic Development
B. Sehlhorst (x1692)
(Revised)
Title
Authorizing the reappropriation of funds within Economic Development’s General Fund budget; authorizing the expenditure of an amount not to exceed $100,000 from the General Fund for critical assessments necessary for the redevelopment of the Spitzer and Nicholas buildings; authorizing the mayor to enter into a project agreement for said purpose; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
The Lucas County Land Bank recently acquired the Spitzer and Nicholas buildings and has been working with the City, ConnecToledo and Toledo-Lucas County Port Authority to stabilize the structures and return them back to productive use. Redevelopment of these buildings requires critical assessments to identify their structural integrity, overall condition, marketability and feasibility for converting into new uses. The City wishes to use $100,000 from savings in the Department of Economic Development’s 2020 budget to assist its partners with these assessments. Letters of support from the partners for this funding can be found in the exhibits attached hereto and incorporated herein.
The fiscal impact of this ordinance is as follows:
- The amount of funds requested: $100,000
- The expenditure budget line item: 1001-16400-537410-5000436STDSTD
- New revenue generated (operational revenue, grants, if any): N/A
- Revenue budget line item (if any): N/A
- Are funds budgeted in the current fiscal year (yes/no)?: No
- Is this a capital project (yes/no)? No
- If yes, is it new or existing (new/existing)? N/A
- What section of the City’s Strategic Plan does this support:
o Excellence in Basic Services (yes/no) No
o Quality Community Investment (Livable City, Development) (yes/no) Yes
o Workplace Culture & Customer Service (yes/no) No
o Environment (yes/no) No
Summary
NOW, THEREFORE, Be it ordained by the Council of the City of Toledo:
SECTION 1. That an amount not to exceed $22,110.16 is disappropriated from General Fund Account Code 1001-16400-537400-5000436STDSTD and appropriated to General Fund Account Code 1001-16400-537410-5000436STDSTD.
SECTION 2. That an amount not to exceed 15,000.00 is disappropriated from General Fund Account Code 1001-16400-537410 5661001STDSTD and appropriated into General Fund Account Code 1001-16400-537410-5000436STDSTD.
SECTION 3. Authorizing expenditure in an amount not to exceed $100,000 from General Fund Account Code 1001-16400-537410-5000436STDSTD for critical assessments related to the redevelopment of the Spitzer and Nicholas buildings.
SECTION 4. That the mayor is authorized to enter into a project agreement with Lucas County Land Bank, ConnecToledo, and Toledo-Lucas County Port Authority to provide proceeds for the purpose identified in Section 1.
SECTION 5. That the Director of Finance is authorized to issue her warrant or warrants against the account code listed in Section 1 in an amount not to exceed $100,000 in payment of the above authorized obligations upon presentation of the proper voucher or vouchers.
SECTION 6. That it is found and determined that all formal actions of Council concerning and relating to the passage of this Ordinance were adopted in an open meeting of Council and that all deliberations of Council and any of its committees that result in such formal action were in meetings open to the public in compliance with all legal requirements, including Section 121.22 Ohio Revised Code.
SECTION 7. That this Ordinance is declared to be an emergency measure and shall take effect and be in force immediately from and after its passage. The reason for the emergency lies in the fact that the same is necessary for the immediate preservation of the public peace, health, safety and property, and for the further reason that this Ordinance must be immediately effective to facilitate the redevelopment of the Spitzer and Nicholas buildings, thereby creating or preserving jobs and other employment opportunities and improving the economic welfare of the citizens of the City and surrounding area.
Vote on emergency clause: yeas _____, nays _____.
Passed: _________________, as an emergency measure: yeas _____, nays _____.
Attest: ________________________ __________________________________
Clerk of Council President of Council
Approved: _____________________ __________________________________
Mayor
I hereby certify that the above is a true and correct copy of an Ordinance passed by Council ________________________.
Attest: ________________________
Clerk of Council