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File #: 202001353    Version: 1
Type: Ordinance Status: Passed Emergency
File created: 8/28/2020 In control: Cincinnati City Council
On agenda: 9/2/2020 Final action: 9/2/2020
ORD/RES# date: 9/2/2020 ORD/RES#: 0282-2020
Title: ORDINANCE (EMERGENCY) submitted by Paula Boggs Muething, Interim City Manager, on 8/31/2020, AUTHORIZING the City Manager to execute a Funding Agreement with WHRF Holdings III, LLC and Nassau Avenue Investments, LLC, providing for a forgivable loan of $1,000,000 to support acquisition, demolition, and development of the former Kroger Site in the neighborhood of Walnut Hills; ESTABLISHING new capital improvement program project account no. 980x164x211635, "Walnut Hills Former Kroger Site," for the purpose of providing resources to facilitate the acquisition, demolition, and development of the former Kroger Site in the neighborhood of Walnut Hills; AUTHORIZING the transfer and return to source Capital Funds 757 and 858 of the sum of $2,000,000 from various capital improvement program project accounts for the purpose of decreasing certain existing capital improvement program project accounts, according to Section 1 of the attached Schedule of Transfer; AUTHORIZING the transfer and appropr...
Sponsors: City Manager
Attachments: 1. Transmittal, 2. Ordinance, 3. Exhibit A, 4. Exhibit B, 5. 282-2020 T, 6. 282-2020

title

ORDINANCE (EMERGENCY) submitted by Paula Boggs Muething, Interim City Manager, on 8/31/2020, AUTHORIZING the City Manager to execute a Funding Agreement with WHRF Holdings III, LLC and Nassau Avenue Investments, LLC, providing for a forgivable loan of $1,000,000 to support acquisition, demolition, and development of the former Kroger Site in the neighborhood of Walnut Hills; ESTABLISHING new capital improvement program project account no. 980x164x211635, “Walnut Hills Former Kroger Site,” for the purpose of providing resources to facilitate the acquisition, demolition, and development of the former Kroger Site in the neighborhood of Walnut Hills; AUTHORIZING the transfer and return to source Capital Funds 757 and 858 of the sum of $2,000,000 from various capital improvement program project accounts for the purpose of decreasing certain existing capital improvement program project accounts, according to Section 1 of the attached Schedule of Transfer; AUTHORIZING the transfer and appropriation of the sum of $2,000,000 from the unappropriated surplus of Capital Funds 757 and 858 to new or existing capital improvement program project accounts for the purpose of providing resources for certain capital improvement program project accounts, according to Section 2 of the attached Schedule of Transfer; and further DECLARING certain herein described projects to be for a public purpose.

recommendation

PASS EMERGENCY