Agenda Item # ____1______
Columbus Consolidated Government
Council Meeting
January 29, 2007
Agenda Report #229
TO: Mayor and Councilors
SUBJECT: Enterprise Zone ? 1999C Bond Amendment
INITIATED BY: Department of Community Reinvestment
________________________________________________________________________________
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Recommendation: Approval is requested for the attached resolution to allow for
the use of 1999C Bond funds for any uses and purposes as set forth in the
Enterprise Zone Act, as amended.
Background: Pursuant to Ordinance #98-30, the Council established and
designated an Enterprise Zone in accordance with the Enterprise Zone Act of
1997. The Act defined business enterprise, as any business which is engaged
primarily in manufacturing, warehousing and distribution, processing,
telecommunications, tourism, and research and development industries. In May
1999, the Columbus Building Authority issued the 1999C Taxable Lease Revenue
Bonds, with a portion to be used for the acquisition and development of
property within the Enterprise Zone to be marketed for industrial uses to
generate new jobs in Columbus. In July 1999, the Act was amended to include
new residential construction and residential rehabilitation as an eligible
?business enterprise.? In 2000, the Council amended Ordinance #98-30, in
accordance with the amended Act, to include new residential construction and
residential rehabilitation as eligible ?business enterprise? within the City?s
Enterprise Zone.
Analysis: Pursuant to Ordinance #00-106, the City amended the Enterprise Zone
to include new residential construction and residential rehabilitation as
permitted use in accordance with the amended Enterprise Zone Act. However, the
funding sources for the acquisition and development of property within the
Enterprise Zone does not contain language allowing for new residential
construction and residential rehabilitation in accordance with the amended
Enterprise Zone Act.
The attached resolution will allow for the use of 1999C Bond funds for any uses
and purposes as set forth in the Enterprise Zone Act, as amended. The approval
of this resolution will allow for new residential construction and residential
rehabilitation as a permitted use of property acquired with 1999C Bond funds.
Financial Considerations: Without the approval of the resolution, the
permitted use of property acquired with 1999C Bond funds will be restricted to
commercial and industrial uses for job creation.
Legal Considerations: The City?s Bond Counsel has developed and approved the
resolution. The City Attorney concurs with the wording of the resolution.
Recommendations: Approve the resolution allow for the use of 1999C Bond funds
for any uses and purposes as set forth the Enterprise Zone Act, as amended.
C0603-0018-3
A RESOLUTION
No. __________
WHEREAS, the Council of Columbus, Georgia Council, pursuant to Ordinance No.
98-30, designated an Enterprise Zone the Enterprise Zone to be known as the
Columbus Business Development Center in accordance with the Enterprise Zone
Employment Act of 1997 hereinafter referred to as the Act, which defined
business enterprise, as any business which is engaged primarily in
manufacturing, warehousing and distribution, processing, telecommunications,
tourism, and research and development industries; and
WHEREAS, the Columbus Building Authority the Authority issued $9,585,000
Columbus Building Authority Taxable Lease Revenue Bonds, Series 1999C the
Series 1999C Bonds, a portion of the proceeds of which were used to acquire
property within the Enterprise Zone; and
WHEREAS, the Act was amended effective July 1, 1999 so as to provide that new
residential construction and residential rehabilitation shall be qualified
business enterprises for purposes of an Enterprise Zone pursuant to the Act
(Ga. L. 1999, p. 333, ?1); and
WHEREAS, subsequent to the adoption of Ordinance No. 98-30, and the issuance of
the Series 1999C Bonds, Council adopted Ordinance No. 00-106 which expanded the
area of the Enterprise Zone and defined business enterprise to mean any
business which is engaged primarily in manufacturing, warehousing and
distribution, processing, telecommunications, tourism, and research and
development industries, new residential construction and residential
rehabilitation, which amendment was consistent with the 1999 amendment to the
Act which added to the definition of a business enterprise new residential
construction and residential rehabilitation; and
WHEREAS, pursuant to Ordinance No. 01-29, the Enterprise Zone was further
enlarged to a total acreage of 2,962 acres; and
WHEREAS, since the Act has been expanded to include new residential
construction and residential rehabilitation which was approved in the adoption
of Ordinance Nos. 00-106 and 01-29; Council wishes to make clear that any
property previously or subsequently purchased with funds from the Series 1999C
Bonds may be used for new residential construction and residential
rehabilitation in the Enterprise Zone consistent with the changes in the Act
and Ordinance Nos. 00-106 and 01-29 adopted by the Council of Columbus,
Georgia;
NOW, THEREFORE THE COUNCIL OF COLUMBUS, GEORGIA HEREBY RESOLVES that any
property previously or subsequently purchased with funds from the Series 1999C
Bonds may be used for any of the uses and purposes set forth in the Act, as
amended, and as provided in Ordinance Nos. 00-106 and 01-29.
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Introduced at a regular meeting of the Council of Columbus, Georgia
held on the _______ day of ________________, 2008, and adopted at said meeting
by the affirmative vote of _______ members of Council.
Councilor Allen voting ___________________________.
Councilor Anthony voting ___________________________.
Councilor Baker voting ___________________________.
Councilor Barnes voting ___________________________.
Councilor Davis voting ___________________________.
Councilor Henderson voting ___________________________.
Councilor Hunter voting ___________________________.
Councilor McDaniel voting ___________________________.
Councilor Pugh voting ___________________________.
Councilor Woodson voting ___________________________.
____________________________________ _________________________________
TINY B. WASHINGTON JIM WETHERINGTON
CLERK MAYOR
Attachments
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