Explanation
BACKGROUND: This legislation authorizes the Director of the Department of Development to enter into an agreement with the Affordable Housing Trust Corporation (AHTC) for Columbus and Franklin County. The funds provided by this agreement will be used to undertake the acquisition and rehabilitation components of the Home Again Initiative. The AHTC currently facilitates the production of affordable housing and the enhancement of home ownership opportunities in Columbus. This legislation authorizes the expenditure of $300,000 to the AHTC for the acquisition and rehabilitation of vacant houses to increase the supply of decent, safe, sanitary and affordable housing as well as to enhance neighborhood revitalization activities. The program will also assist in building the capacity of neighborhood-based non-profit organizations. Specifically, the proposal is to provide the funds to AHTC to selectively target acquisitions of vacant properties for redevelopment and to ensure maximum neighborhood revitalization potential. The AHTC may also receive properties from the city that are acquired via the enforcement process.
The Housing Preservation Fund represents the City's commitment to the preservation of housing units affordable to very-low, low and moderate-income individuals.
Emergency action is necessary to allow for the AHTC to immediately begin the acquisition process.
FISCAL IMPACT: Funding is from the Housing Preservation Fund - 2005 Capital Improvements Budget.
Title
To authorize the Director of the Department of Development to enter into an agreement with the Affordable Housing Trust Corporation for Columbus and Franklin County for the implementation of a component of the City's Home Again Initiative; to authorize the expenditure of $300,000 from the 2005 Capital Improvements Fund; and to declare an emergency. ($300,000)
Body
WHEREAS, the Department of Development, Housing Division desires to administer a Housing Preservation Fund from city bond proceeds; and
WHEREAS, the Department of Development desires to enter into an agreement with the Affordable Housing Trust Corporation (AHTC) for Columbus and Franklin County and to expend $300,000 in bond proceeds; and
WHEREAS, these monies will be used to assist in implementing the Home Again Initiative to preserve the supply of decent, safe, sanitary and affordable housing; and
WHEREAS, emergency action is necessary to allow for acquisition and rehabilitation of vacant properties to begin immediately, and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development, Housing Division, in that it is immediately necessary to enter into an agreement with the Affordable Housing Trust Corporation for Columbus and Franklin County and to expend said funds thereby preserving the public health, peace, property, safety, and welfare; and NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the Director of the Department of Development is hereby authorized to enter into an agreement with the Affordable Housing Trust Corporation (AHTC) for Columbus and Franklin County to implement a component of the City's Home Again Initiative to convert vacant houses to productive use.
Section 2. That for the purpose as stated in Section 1, the expenditure of $300,000 or so much thereof as may be necessary, is hereby authorized from the Department of Development, Division 44-10, Fund 782, Project No. 782001, Object Level One 06, Object Level Three 6616, OCA Code 782001.
Section 3. That expenditure of capital improvements budget funds from this authorization will be for acquisition and subsequent rehabilitation of vacant houses for sale to income eligible households.
Section 4. That this contract is entered into in accordance with the provisions of Section 329.15 of the Columbus City Codes, 1959.
Section 5. That for the reasons stated in the preamble hereto, which is hereby made a part hereof, this Ordinance is hereby declared to be an emergency measure and shall take effect and be in force from and after its approval by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes the same.