City of Atlanta
Georgia

Ordinance
16-O-1368
Adopted on Substitute
Jul 5, 2016 1:00 PM

AN ORDINANCE BY COUNCILMEMBER NATALYN M. ARCHIBONG AS SUBSTITUTED BY FINANCE/EXECUTIVE COMMITTEE AMENDING THE FY 2017 (GENERAL FUND) BUDGET BY TRANSFERRING TO AND FROM APPROPRIATION IN THE AMOUNT OF ONE HUNDRED THOUSAND DOLLARS AND ZERO CENTS ($100,000.00) FOR THE PURPOSE OF AUTHORIZING THE ATLANTA DEVELOPMENT AUTHORITY D/B/A “INVEST ATLANTA” TO MAKE AN ECONOMIC OPPORTUNITY FUND “EOF” GRANT TO KEYSIGHT TECHNOLOGIES, INC.PURSUANT TO THE INTERGOVERNMENTAL AGREEMENT FOR ECONOMIC DEVELOPMENT SERVICES BETWEEN THE CITY OF ATLANTA AND INVEST ATLANTA; TO WAIVE CONFLICTING ORDINANCES FOR THIS INSTANCE ONLY; AND FOR OTHER PURPOSES.

Information

Department:Office of the Municipal ClerkSponsors:Councilmember, District 5 Natalyn Mosby Archibong
Category:Committee Walk-InFunctions:None Required

Body

              WHEREAS, The Atlanta Development Authority d/b/a Invest Atlanta (“Invest Atlanta”) has been duly created and is existing under and by virtue of the Constitution and the laws of the State of Georgia (the “State”), in particular, the Development Authorities Law of the State (O.C.G.A. §36-62-1 et seq., as amended) and an activating resolution of the City Council of the City of Atlanta, Georgia (the “City”), duly adopted on February 17, 1997 and approved by the Mayor of the City on February 20, 1997, and is now existing and operating as a public body corporate and politic and an instrumentality of the State;

              WHEREAS, the City has designated Invest Atlanta as the economic development and redevelopment agent for the City and, as such, Invest Atlanta creates, manages and conducts special project, programs, initiatives and studies for the purposes of investment in the economic development, revitalization and growth of the City (collectively, the “Economic Development Services”), and,

              WHEREAS, pursuant to Ordinance 11- O-1839, duly adopted on January 3, 2012 and approved by operation of law on January 12, 2012, the City entered into an Intergovernmental Agreement for Economic Development Services with Invest Atlanta effective as of March 28, 2009 (the “IGA”); and

              WHEREAS, the IGA provides for the funding by the City and management by Invest Atlanta of an Economic Opportunity Fund (“EOF”), to be utilized to increase the capital available for business growth by investing in significant job creation opportunities in the City; and

              WHEREAS, Invest Atlanta, in conjunction with its economic development partners, has negotiated with KeysightTechnologies, Inc.for the expansion of its operations in Midtown Atlanta; and

              WHEREAS, Keysight Technologies will invest $13,900,000 in infrastructure related costs and create 241 new jobs in the City of Atlanta and these jobs are expected to have an economic impact of $92.7 million according to an IMPLAN analysis conducted by Invest Atlanta; and

              WHEREAS, Invest Atlanta has determined that making this EOF Grant to Keysight Technologies would result in significant new job creation and business expansion and therefore recommends approval by the City; and

              WHEREAS, the City Council has determined that this would therefore be in the best interest of the City of Atlanta.

The City Council of Atlanta, Georgia hereby ordains as follows:

Section 1. That the FY 2017 (General Fund) Budget is hereby amended as follows:

Transfer From Appropriations: $100,000

            Fund                            1001                General Fund

            Dept/Org                     200101            NDP Reservation Fund

            Account                      5999901          Reserve Conversion Account

            Function                      1512000          Accounting

                                                                                                           

Transfer To Appropriations: $100,000

Fund                            1001                General Fund

            Dept/Org                     200205            NDP Atlanta Development Authority

            Account                      5212001          Consulting / Professional Services Account

            Function                      7520000          Economic Development

 

Section 2. That the Chief Financial Officer is authorized to fund the full grant amount of one hundredthousand dollars ($100,000) to Invest Atlanta, the disbursement of which to Keysight Technologies shall be governed by a grant agreement between Invest Atlanta, as administrator of the EOF, and.

Section 3. That the grant agreement, or amendments thereto, which is entered into to memorialize the defined economic development benefits and obligations of the parties shall not be binding upon the City and the City shall not incur any obligations or liability therefor.

Section 4. That all ordinances or parts of ordinances in conflict herewith are waived to the extent of the conflict only.

 

 

Meeting History

Jun 20, 2016 1:00 PM Video Atlanta City Council Regular Meeting
draft Draft

REFERRED TO COMMUNITY DEVELOPMENT/HUMAN RESOURCES COMMITTEE WITHOUT OBJECTION

RESULT:REFERRED WITHOUT OBJECTION
Jul 5, 2016 1:00 PM Video Atlanta City Council Regular Meeting
draft Draft

ADOPTED SUBSTITUTE BY A ROLL CALL VOTE OF 13 YEAS; 0 NAYS

RESULT:ADOPTED ON SUBSTITUTE [13 TO 0]
AYES:Michael Julian Bond, Mary Norwood, Andre Dickens, Carla Smith, Ivory Lee Young Jr., Cleta Winslow, Natalyn Mosby Archibong, Alex Wan, Howard Shook, Felicia A Moore, Clarence "C. T." Martin, Keisha Lance Bottoms, Joyce M Sheperd
ABSENT:Yolanda Adrean
AWAY:Kwanza Hall