City of Columbus - File #: 0829-2011

• File #: 0829-2011
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 5/23/2011
• In control: Health, Housing & Human Services Committee
• On agenda: 7/11/2011
• Final action: 7/13/2011
• Title: To authorize the expenditure of $219,440.37 from the HOME Fund to provide funding for various approved programs; and to declare an emergency. ($219,440.37)

Date	Ver.	Action By	Action	Result
7/13/2011	1	CITY CLERK	Attest
7/12/2011	1	MAYOR	Signed
7/11/2011	1	Columbus City Council	Approved	Pass
7/11/2011	1	COUNCIL PRESIDENT	Signed
6/28/2011	1	Dev Drafter	Sent to Clerk's Office for Council
6/27/2011	1	CITY ATTORNEY	Reviewed and Approved
6/24/2011	1	FINANCE DIRECTOR	Reviewed and Approved
6/24/2011	1	Dev Drafter	Sent for Approval
6/24/2011	1	Auditor Reviewer	Reviewed and Approved
6/24/2011	1	CITY AUDITOR	Reviewed and Approved
6/24/2011	1	Dev Drafter	Sent for Approval
6/22/2011	1	Finance Reviewer	Reviewed and Approved
6/22/2011	1	Finance Reviewer	Reviewed and Approved
6/20/2011	1	Dev Drafter	Sent for Approval
5/31/2011	1	Dev Drafter	Sent for Approval
5/27/2011	1	Finance Reviewer	Reviewed and Disapproved
5/24/2011	1	Dev Drafter	Sent for Approval
5/23/2011	1	Dev Drafter	Sent for Approval
5/23/2011	1	DEVELOPMENT DIRECTOR	Reviewed and Approved

Explanation

BACKGROUND: This ordinance authorizes the expenditure of $219,440.37 of HOME funds within the HOME Investment Partnerships Program for the Department of Development. The funds will assist first-time homebuyers, for-profit and non-profit organizations with grants and no or low interest loans for projects designed to increase and preserve the local supply of decent, safe, sanitary, and affordable housing for low and moderate income families. This ordinance is in accordance with the 2010-2014 Consolidated Plan and application to the U.S. Department of Housing and Urban Development (HUD). The funds will be allocated as follows: $123,017 to the Affordable Housing Opportunity Fund and $96,423.37 for the HUD required 15% set aside for projects developed by Community Housing Development Organizations (CHDO).

These funds are available due to canceled housing projects.

Emergency action is requested to allow for continuation of services without interruption.

FISCAL IMPACT: $219,440.37 will be expended from the HOME Fund.


Title

To authorize the expenditure of $219,440.37 from the HOME Fund to provide funding for various approved programs; and to declare an emergency. ($219,440.37)


Body

WHEREAS, this ordinance authorizes the expenditure of $219,440.37 of HOME funds within the HOME Investment Partnerships Program for the Department of Development; and

WHEREAS, HOME funds will be used to assist first-time homebuyers, for-profit and non-profit organizations with grants and no or low interest loans for projects designed to increase and preserve the local supply of decent, safe, sanitary, and affordable housing for low income families; and

WHEREAS, an emergency exists in the usual daily operation of the Department of Development, Housing Division, in that it is immediately necessary to expend said funds to allow for continuation of vital program services without interruption, thereby preserving the public health, peace, property, ...