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HomeMy WebLinkAboutOrdinance 58-13RECORD OF ORDINANCES Dayton Legal Blank, Inc. Ordinance No. 58 -13 Form No.30043 Passed 20 AN ORDINANCE AMENDING THE ANNUAL APPROPRIATIONS FOR THE FISCAL YEAR ENDING DECEMBER 31, 2013 WHEREAS, the Ohio Revised Code requires, when necessary, amendments to the annual appropriations ordinance be made in order that appropriations are not over expended; and WHEREAS, it is necessary to amend the annual appropriations ordinance to provide funding in certain budget accounts. NOW, THEREFORE, BE IT ORDAINED by the Council of the City of Dublin, State of Ohio, f 7 of the elected members concurring that: Section 1 . There be appropriated from the unappropriated balance in the Upper Metro TIF Fund the amount of $3,200,000 to account no. 432 -0314- 780 -2349 for costs related to the I- 270 /US 33 Interchange Improvement Project. Section 2 . This ordinance shall take effect and be in force in accordance with Section 4.04(a) of the Dublin City Charter. Passed this day of 2013 � f � May or - • • O fficer ATTEST: Clerk of Council Office of the City Manager 5200 Emerald Parkway • Dublin, OH 43017 -1090 City of Dublin Phone: 614 - 410 -4400 • Fax: 614 - 410 -4490 memo To: Members of Dublin City Council From: Marsha I. Grigsby, City Managervk— Date: June 20, 2013 Initiated By: Angel L. Mumma, Director of Finance & Administration Re: Ordinance No. 58 -13 — Amending the Annual Appropriations for the Fiscal Year Ending December 31, 2013 Summary As Council is aware, the I- 270 /US 33 Interchange project continues to progress. The "Preferred Alternative" was announced at an open house /public meeting held on Thursday, May 16 at the Dublin Community Recreation Center. Phase I of this alternative includes new ramp configurations and the elimination of four major internal weaves and merges. This project will improve safety and traffic flow and add capacity, and is expected to provide a solution that will serve the region for the foreseeable future. The expected cost of Phase I is approximately $92 million. The City of Dublin has committed funding in the amount of $17.25 million. The City of Dublin contribution will be used for preliminary engineering, detailed design, right -of -way acquisition and construction costs. On Thursday, June 13, 2013, MORK announced its decision to increase their funding commitment to the project from $7 million to $25 million for construction. The balance of funds will be sought from ODOT. In addition, staff has submitted a TIGER V grant application to the U.S. Department of Transportation seeking a direct federal contribution to project. Funding in the amount of $12.4 million was programmed in the 2013 — 2017 CIP, with $800,000 programmed in 2013 for architectural and engineering fees, $5 million in 2014 for right -of -way acquisition and $6.6 million in 2016 for construction. However, as the selection of this preferred alternative was made, the timeframe for construction was advanced, with construction expected to begin in 2014. Based on this revised timeframe and the City's funding commitment, ODOT is currently requesting funding in the amount of $3.2 million from the City of Dublin for preliminary and detailed design. In 2008, City Council approved Ordinances 84 -08 and 85 -08, which amended the Embassy Suites and Cooker TIFs (both part of the Upper Metro TIF) to allow for service payments received in these TIF districts to be utilized for public infrastructure improvements related to the interchange improvements. The existing fund balance, in addition to an advance from the General Fund in the amount of $1.5 million will allow for the payment to ODOT. Ordinance No. 58 -13 will appropriate $3.2 million from the unappropriated balance of the Upper Metro TIF to account 432- 0314 -780- 2349, which will be used for this payment. In addition, staff is preparing legislation for Council's consideration that would modify the Ruscilli TIF to allow for service payments generated within this TIF district to be utilized for the interchange improvements. The Ruscilli TIF was established in 1997 as a "straight TIF" to provide a funding mechanism for the construction of Venture Drive. In 2003, Council approved legislation modifying the TIF to allow for implementation of a "non - school TIF" after the Venture Drive improvements were paid for and allowing the addition of improvements to Perimeter Drive from Memo re. Ord. 58 -13 — Amending the Annual Appropriations for Fiscal Year Ending December 31, 2013 June 20, 2013 Page 2 of 2 Emerald Parkway to Avery- Muirfield Drive, including the intersection at Avery- Muirfield Drive, and improvements to the Avery- Muirfield Drive /Perimeter Loop and Avery- Muirfield Drive /Post Road intersections. Improvements related to the Avery- Muirfield Drive /Perimeter Loop are currently programmed in the 2013 — 2017 CIP, with engineering beginning in 2014 and construction taking place in 2017. Taking these expenditures into account, funds remain within this TIF, which can be used for the interchange. Staff anticipates bringing this legislation forward in August. It was originally anticipated that expenditures related to the construction of the interchange improvements would be financed by debt. As the project moves forward and the costs are finalized, staff will evaluate the level of debt that will be issued. Recommendation Staff recommends that Council adopt Ordinance No. 58 -13 at the second reading /public hearing on July 1, 2013.