Label
DPU020519OPWCGrantsandLoans
Engineering Services
Tim Grosjean (x1344)
Revised
Title
Authorizing the mayor to enter into agreements with and accept and deposit financial assistance from the State of Ohio, Ohio Public Works Commission (OPWC) in an amount not to exceed $2,581,970 for six roadway projects; authorizing the appropriation and expenditure of said grant and loan proceeds on the subject projects; authorizing a dedicated source for repayment of said loans; authorizing the mayor to execute all necessary documentation for said grants and loans and to execute the necessary documentation for all contracts related to construction, professional services, contingencies, capitalized interest, testing, and permit fees; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
This ordinance authorizes the mayor to accept, deposit, appropriate and expend up to $2,581,970 in grant and loan funds from the Ohio Public Works Commission (OPWC). It further authorizes the mayor to enter into agreements for the referenced grants and loans and to conduct the appropriate budget adjustments and transfers of expense associated with said grants and loans. It further dedicates a source of funds for repayment of the loans.
Resolutions #430-17 and #418-18 authorized applying for this assistance and entering into an agreement with OPWC for this purpose. Sections 1 and 3 of this ordinance details each project's grant and/or loan amount and account code.
Each of these projects requires match money which is either in place or will be in place through other city or outside funding sources.
Passage of this ordinance is required to enable the City of Toledo to accept OPWC funding and to proceed with the construction of these projects.
Summary
NOW, THEREFORE, Be it ordained by the Council of the City of Toledo:
SECTION 1. That the mayor is authorized to accept and deposit grant proceeds in an amount not to exceed $1,708,485 and to enter...
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