File #: 202402093    Version: 1
Type: Ordinance Status: Passed Emergency
File created: 9/20/2024 In control: Cincinnati City Council
On agenda: 10/2/2024 Final action: 10/2/2024
ORD/RES# date: 10/2/2024 ORD/RES#: 0316-2024
Title: ORDINANCE (EMERGENCY) submitted by Sheryl M. M. Long, City Manager, on 9/25/2024, AUTHORIZING the City Manager to execute a Funding Agreement with the Port of Greater Cincinnati Development Authority pertaining to the acquisition of real property located at 3924 Cherry Street and 1670 Cooper Street in the Northside neighborhood of Cincinnati; AUTHORIZING the transfer and appropriation of $1,598,598 from the unappropriated surplus of Northside Equivalent Fund 525 to Department of Community and Economic Development ("DCED") non-personnel operating budget account no. 525x162x7200 to facilitate the Port of Greater Cincinnati Development Authority's financing to acquire certain real property located at 3924 Cherry Street and 1670 Cooper Street in the Northside neighborhood of Cincinnati; and DECLARING that expenditures from DCED non-personnel operating budget account no. 525x162x7200 to facilitate the Port of Greater Cincinnati Development Authority's financing to acquire certain real prope...
Sponsors: City Manager
Attachments: 1. Transmittal, 2. Ordinance, 3. Attachment, 4. 316-2024 T, 5. 316-2024

title

ORDINANCE (EMERGENCY) submitted by Sheryl M. M. Long, City Manager, on 9/25/2024, AUTHORIZING the City Manager to execute a Funding Agreement with the Port of Greater Cincinnati Development Authority pertaining to the acquisition of real property located at 3924 Cherry Street and 1670 Cooper Street in the Northside neighborhood of Cincinnati; AUTHORIZING the transfer and appropriation of $1,598,598 from the unappropriated surplus of Northside Equivalent Fund 525 to Department of Community and Economic Development (“DCED”) non-personnel operating budget account no. 525x162x7200 to facilitate the Port of Greater Cincinnati Development Authority’s financing to acquire certain real property located at 3924 Cherry Street and 1670 Cooper Street in the Northside neighborhood of Cincinnati; and DECLARING that expenditures from DCED non-personnel operating budget account no. 525x162x7200 to facilitate the Port of Greater Cincinnati Development Authority’s financing to acquire certain real property located at 3924 Cherry Street and 1670 Cooper Street in the Northside neighborhood of Cincinnati are for a public purpose and constitute a “Public Infrastructure Improvement” (as defined in Section 5709.40(A)(8) of the Ohio Revised Code), that will benefit and/or serve District 25 - Northside Incentive District, subject to compliance with Ohio Revised Code Sections 5709.40 through 5709.43. (Subject to the Temporary Prohibition List <https://www.cincinnati-oh.gov/law/ethics/city-business>).

recommendation

PASS EMERGENCY