Label
DPU011420OPWCGRANTSANDLOANS
Engineering Services
Tim Grosjean (x1344)
Title
Authorizing the mayor to enter into agreements with and accept financial assistance from the State of Ohio, Ohio Public Works Commission (OPWC) in an amount not to exceed $3,628,614 for eleven 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 $3,628,614 in grant and loan proceeds 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 #418-18 and #497-19 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.
The fiscal impact of this ordinance is as follows:
- The amount of funds requested: none
- The expenditure budget line item: 540G-35000-8GA7280STDSTD, 540G-35000-8GA7290STDSTD, 540G-35000-8GA7300STDSTD, 540G-35000-8GA7310STDSTD, 540G-35000-8GA7320STDS...
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