Council moves to convert Green Gate Drive agency fund to capital improvements fund amid ongoing construction

Canal Winchester council on Sept. 2 moved a resolution to amend the original creation of the Green Gate Drive agency fund and reclassify it as a capital improvements fund so the city can use the deposits that have been accumulating for roadway construction.

Finance Director Amanda Jackson said the change follows an auditor recommendation: agency funds hold money for another entity, but because the city is now the entity building Green Gate Boulevard, the fund type should be changed to a capital improvement fund to permit use of the money for construction. Jackson noted deposits were collected over several years and are intended to fund the roadway work; she said the emergency clause was requested because construction is already underway.

Council members asked for historical context; one council member noted that the TIF agreement dates to 2017 and that the city agreed to fund the roadway construction with accumulated TIF funds if the project was not built by 2025. Council moved the resolution to full council and later adopted it with an emergency clause at the council meeting, citing that construction was in progress and the funds need to be accessible.

Staff said the ordinance would allow the city to use funds previously held in the agency account toward Green Gate Boulevard construction and that the change was administrative to align fund type with the city’s current role as project builder.