Explanation
BACKGROUND: This legislation authorizes the transfer and expenditure of $77,675.25 of Neighborhood Stabilization Program (NSP3) funds from the General Government Grant Fund. Funds are needed to obligate and expend for eligible projects and activities associated with the Neighborhood Stabilization Program (NSP).
This modification to the City's NSP3 budget does not result in a greater than 20% increase in one activity's original budget (Neighborhood Stabilization Fund).
This ordinance is submitted as an emergency so as to allow the expenditure of funds to be made prior to the end of the grant's required expenditure deadline of July 1, 2014 as mandated by the City's NSP3 Grant Agreement with the U.S. Department of Housing and Urban Development.
FISCAL IMPACT: This ordinance authorizes the transfer and expenditure of $77,675.25 of NSP3 funds. The $77,675.25 of NSP Funds must be expended in Neighborhood Stabilization Program eligible projects and activities. The funds are transferred from other activities.
Title
To authorize the transfer of $77,675.25 within the General Government Grant Fund; to authorize the Director of the Department of Development to provide loans and grants to eligible projects and activities associated with the Neighborhood Stabilization Program; to authorize the expenditure of $77,675.25 from General Government Grant Fund, Neighborhood Stabilization Program 3 grant; and to declare an emergency. ($77,675.25)
Body
WHEREAS, this legislation authorizes the transfer and expenditure of $77,675.25 within the General Government Grant Fund to provide funding for the Department of Development obligations and expenses relating to the Neighborhood Stabilization Program; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development in that it is immediately necessary to transfer and expend said funds so the expenditure of funds can be made prior to the end of the grant's required expenditure deadline of July 1, 2014 as mandated by the City's NSP3 Grant Agreement with the U.S. Department of Housing and Urban Development, thereby preserving the public health, peace, property, safety and welfare; Now, Therefore,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the City Auditor is hereby authorized and directed to transfer $77,675.25 within the General Government Grant Fund, Fund 220, Grant 441103 as follows:
FROM:
Division / Object Level One / OCA Code / Amount
45-01 / 01 / 451103 / $18,152.94
44-01 / 03 / 441106 / $10,357.75
44-10 / 01 / 441108 / $5,600.00
44-10 / 01 / 441109 / $4,600.00
44-01 / 03 / 441105 / $38,964.56
TO:
Division / Object Level One / Object Level Three / OCA Code / Amount
44-10 / 05 / 5528 / 441110 / $77,675.25
SECTION 2. That the Director of the Department of Development is hereby authorized to provide loans and grants to eligible projects and activities associated with the Neighborhood Stabilization Program.
SECTION 3. That for the purpose as stated in Section 2, the expenditure of $77,675.25 or so much thereof as may be necessary, is hereby authorized from the Department of Development, Division 44-10, Fund 220, Grant 441103, Object Level One 05, Object Level Three 5528, OCA Code 441110, as cash becomes available in the grant.
SECTION 4. That the funds necessary to carry out the purpose of this ordinance are hereby deemed appropriated, and the City Auditor shall establish such accounting codes as necessary
SECTION 5. That for the reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is declared to be an emergency measure and shall take effect and be in force from and after its passage and approval by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes the same.