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Home My WebLink About131-03 Ordinance RECORD OF ORDINANCES Dayton Legal Blank, [nc. Forni No. 30043 ~~I Ordinance No. 131-03 PG!ssed 20 An Ordinance Amending The Annual Appropriations Ordinance ' For Fiscal Year Ending December 31, 2003 WHEREAS, Section 5705.40 of the Ohio Revised Code allows for supplemental appropriations to be made to an appropriations measure provided sufficient resources are available; and WHEREAS, the Ohio Revised Code requires, when necessary, amendments to the annual appropriations ordinance to be made in order that appropriations are not over expended; and WHEREAS, it is necessary to amend the annual appropriations measure to provide adequate funding authorization for income tax refunds and various capital project funds, NOW, TI~EREFORE, BE IT ORDAINED by the Council of the City of Dublin, State of Ohio, of the elected members concurring; that: Section 1. There be appropriated from. the unappropriated balance in the General Fund the amount of $290,000 to account 101-0211-710-2910 for income tax refunds. Section 2. There be appropriated from the unappropriated balance in the Woerner-Temple TIF Fund the amount of $161.30 to account 412-02:21-710-2301 for fees charged by Franklin County to collect and distribute service payments. Section 3. There be appropriated from the unappropriated balance in the Ruscilli TIF Fund the amount of $5,008.83 to account 415-0221-710-2301 for fees charged by Franklin County to collect and distribute service payments. Section 4. There be appropriated from the unappropriated balance in the Pizzuti TIF Fund the amount of $134,038.86. Of the total, $2,083.60 is to be appropriated to account 416-0221- 710-2301 for fees charged by Franklin County to collect and distribute service payments and $131,955.26 to account 416-0221-710-2302 for payment due to Pizzuti Builders, LLC in accordance with the Tax Increment Financing (TIF) agreement. Section 5. There be appropriated from the unappropriated balance in the Thomas/Kohler TIF Fund the amount of $9,473.38 to account 419-0221-710-2301 for fees charged by Franklin County to collect and distribute service payments. Section 6. There be appropriated from the unappropriated balance in the McKitrick TIF Fund the amount of $17,379.07 to account 421-0221-710-2301 for fees charged by Franklin County to collect and distribute service payments. Section 7. There be appropriated from the unappropriated balance in the Duke Realty TIF Fund the amount of $926.34 to account 424-0221-710-2301 for fees charged by Franklin County to collect and distribute service payments. Section 8. There be appropriated from the unappropriated balance in the Perimeter Center TIF Fund the amount of $6,582.22 to account 425-0221-710-2301 for fees charged by Franklin County to collect and distribute service payments. Section 9. There be appropriated from the unappropriated balance in the Rings Road TIF Fund the amunt of $3,279.97 to account 426-0221-710-2301 for fees charged by Franklin County to collect and distribute service payments. Section 10. There be appropriated from the unappropriated balance in the Avery-Muirfield Improvement Fund the amount of $1,179.41 to account 429-0314-810-2790 for the purpose of transferring funds to the General Debt Service Fund and closing the construction fund. Section 11. There be appropriated from the unappropriated balance in the Perimeter West TIF Fund the amount of $3,079.64 to account 431-0221.710-2301 for fees charged by Franklin County to collect and distribute service payments. RECORD OF ORDINANCES Dayton Legal Blank, Inc. Form No. 30043 Ordinance No. 131-03 Passed Pa~® 2 Section 12. There be appropriated from the unappropriated balance in the Upper Metro Place TIF Fund the amount of $205,467.51. Of the total.. $2,532.19 is to be appropriated to account 432-0221-710-2301 for fees charged by Franklin County to collect and distribute service payments, $202,083.32 to account 432-0314-780-2551 for the reimbursement payment to Capital Square, Ltd. in accordance with the executf:d TIF agreement, and $852.00 to account 432-0314-810-2790 for the purpose of transferring funds to the General Fund for legal fees. Section 13. There be appropriated from the unappropriated balance in the Rings/Frantz TIF Fund the amount of $2,879.60 to account 433-022].-710-2301 for fees charged by Franklin County to collect and distribute service payments. Section 14. There be appropriated from the unappropriated balance in the Arts Facility Renovation Fund the amount of $14.76 to account 434-0314-810-2790 for the purpose of transferring funds to the General Debt Service Fund and closing the construction fund. Section 15. There be appropriated from the unappropriated balance in the Historic Dublin Parking TIF Fund the amount of $25.06 to account 436-0221-710-2301 for the fees charged by Franklin County to collect and distribute service payments. Section 16. The public hearing be waived to provide immediate funding authorization for these accounts. Section 17. This Ordinance shall take effect and be in force in accordance with Section 4.04(a) of the Dubl'iJn City Charter. Passed this ~ 7~h day of/UOlJ e~-r,,/2~,~/ , 2003. ayor -Presiding Officer ATTEST: Clerk of Council I hereby certify that copies of this Ordinance/Resolution were posted in the City of Dublin in accordance with Section 731.25 of the Ohio Revised Code. ~l.Q~ ~iJ ~ 1 . ~lC,C71' ~ D ty Clerk of Council, Dublin, Ohio Deputy City Manager/Director of Finance 5200 Emerald Parkway • Dublin, OH 43017 CITY OF DUBLIN Phone: 614-410-4400 • Fax: 614-410-4490 Memo To: Members of Dublin City Council From: Jane S. Brautigam, City Manager 5 _ ~~jQ~.v,~ Date: November 12, 2003 0 Initiated By: Marsha I. Grigsby, Deputy City Manager/Director of Finance Re: Ordinance No. 131-03, An Ordinance Amending Annual Appropriations SUMMARY: Ordinance No. 131-03 provides additional funding authorization for income tax refunds and various capital project funds. The following provides justification for the requests. Section 1 provides additional funding authorization for income tax refunds. In 2003, there is currently funding authorization for refunds in the amount of $1,866,200. Through October, refunds in the amount of $1,785,638 have been processed and we have additional refund requests totaling $370,000. A significant portion (over 50%) of the refunds made and requested have been the result of estimated payments previously made by businesses for projected net profits that did not occur. For each Tax Increment Financing (TIF) Fund in which service payments were received in 2003, fees were deducted by the Franklin County Auditor for the County's costs associated with the collection and distribution of service payments. These deductions are required to be recorded as expenditures and as a result require that funding be appropriated. The fees are approximately 1 percent of the total service payments collected. Sections 2 through 9, 11 through 13 and 15 request funding authorization fir the fees charged by Franklin County for the collection and distribution of service payments related to the City''s various TIF districts. Section 4 also provides funding for the payment due to Pizzuti Builders LLC (Pizzuti) in accordance with the TIF agreement authorized in 1997. The agreement provides for payment to be made to Pizzuti for stormwater improvements and features and related open space on their property located on Metro Place South after the City has been reimbursed for the costs of the public improvements made at the intersection of Frantz Road and Metro Place South. The City was 100% reimbursed during 2003 and the payment to Pizzuti reflects the amount of service payments remaining in the TIF fund. Pizzuti will receive payments totaling $650,000 as service payments are received. Section 10 provides funding authorization to allow interest income received during the year in the Avery- Muirfield Improvement Fund to be transferred to the General Debt Service Fund and utilized to retire a portion of the debt obligation due on the State Infrastructure Bank loan that financed the construction of the project. Section 12 also provides funding for the 2003 reimbursement payment due to Capital Square, Ltd. Capital Square paid for the installation of the Upper Metro Place roadway and rf;lated public infrastructure improvements and is being reimbursed as service payments are received from applicable TIF districts. With this payment, Capital Square will be reimbursed $483,748.63 of the total $1,955,464.45 they paid to install the public improvements. RECOMMENDATION: Staff is recommending that the public hearing be waived and the Ordinance No. 131-03 be adopted at the November 17, 2003 City Council meeting.