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2019-058 Ordinance
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Last modified
5/22/2019 3:42:14 PM
Creation date
5/22/2019 3:37:06 PM
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North Olmsted Legislation
Legislation Number
2019-058
Legislation Date
5/7/2019
Year
2019
Legislation Title
Cuyahoga County Community College Agreement
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EXHIBIT A <br />Joint Use Agreement Worksheet <br />The Ohio Department of Higher Education <br />Project: North Olmsted Fiber Rin <br />Date: January 2019 <br />Prepared for Joint Use Agreement between City of North Olmsted and Cuyahoga <br />Community College District ("College") for the capital funds to support the Project. The <br />budget for the Project is estimated at $1,000,000. <br />Section l: State appropriation information. <br />1. Amount of state appropriation provided: $200,000 <br />2. Estimated annual debt service on the appropriation: $15,375.23 <br />3. Term of the state bond, in years: 20 <br />Section ll: Estimated value of use of the facility. <br />Use of the facility* Annual value of use # of years <br />a. Student Internship within Public Safety $ 7,680.00 20 <br />b. Student Internship within IT $ 10,910.25 20 <br />(* List additional uses on separate page as needed.) <br />TOTAL ANNUAL VALUE OF USE $18,590.25 <br />Section lll: Basis for values shown in Section ll. <br />On a separate page, explain how each use listed in Section 11 was valued for this analysis. <br />Direction: The purpose of this worksheet is to enable a campus to demonstrate how the <br />value of the uses that will be derived from a Joint Use Agreement is reasonably related to <br />the value of the state capital appropriation made to the partner entity. <br />Example: A campus wishes to enter into a Joint Use Agreement with a 501(C)(3) entity for <br />a state appropriation of $5,000,000. The annual debt service paid by the state on this <br />appropriation is about $390,000 per year, for 20 years. To demonstrate that the value of <br />the uses of the facility is reasonably related to the state appropriation, the sum of the <br />campus' educational uses of the facility should roughly equal $390,000 per year for 20 <br />years. <br />
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