Label
DPW051226TAXINCREMENTFUNDSAFESTREETSFORALLDESIGN
DPW/Engineering and Construction Management
Christy Soncrant (x2851)
Revised
Title
Authorizing the appropriation and expenditure of an amount not to exceed $1,000,000 from the unappropriated balance of the Franklin Park/Westfield Municipal Public Improvement Tax Increment Fund (TIF) for a design project; authorizing the Mayor to accept bids and award contracts for this project; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
Ohio Revised Code Sections 5709.40, 5709.42 and 5709.43 provide City Council with the authority to dedicate real estate tax proceeds on specific parcels towards infrastructure improvements in the vicinity of those parcels. In 2004, to improve safety conditions and reduce hazards to vehicular traffic associated with the expansion of the Westfield Mall and Westgate Shopping Center, City Council passed Ordinance 810-04 enabling tax proceeds from properties in these areas to be dedicated to infrastructure improvements in their respective vicinities.
This Ordinance authorizes appropriation and expenditure of funds for the design of a roadway safety improvement project on Monroe Street within the West Toledo TIF area as part of the Safe Streets for All project that awarded a federal grant to the City and Lucas County. The funding will be used to pay for a safety study and any design elements that will be determined by the study within the TIF boundaries. The study and design outside of the TIF area will be funded by a federal grant and matches and planning dollars.
Summary
NOW THEREFORE Be it ordained by the Council of the City of Toledo:
SECTION 1. That the appropriation of $1,000,000 is authorized from the unappropriated balance of the Franklin Park/Westfield Municipal Public Improvement Tax Increment Fund (TIF) to Account Code 5031-35000-8CPXXXXSTDSTD and the expenditure of same is authorized for design of a roadway safety improvement project on Monroe Street...
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