Label
DPU011921OPWCGRANTSANDLOANS
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 $3,070,400 for a roadway project on the Anthony Wayne Trail; authorizing the appropriation and expenditure of said grant and loan proceeds into the Capital Improvement Fund for the subject project; authorizing a dedicated source for repayment of said loan; authorizing the mayor to execute all necessary documentation for said grant and loan 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 $3,070,400 in grant and loan proceeds from the Ohio Public Works Commission (OPWC). It further authorizes the mayor to enter into agreements for the referenced grant and loan and to conduct the appropriate budget adjustments and transfers of expense associated with said grant and loan. It further dedicates a source of funds for repayment of the loan.
Resolution #497-19 authorized applying for this assistance and entering into an agreement with OPWC for this purpose. The project 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 this project.
The fiscal impact of this ordinance is as follows:
- The amount of funds requested: $3,070,400
- The expenditure budget line item: 540G-35000-8GA7502STDSTD, 540L-35000-8LA7502STDSTD
- New revenue generated (operational revenue, grants, if any): $3,070,400
- Revenue budget line item (if any): 540G-35000-8GA7502STD...
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