Explanation
BACKGROUND: This ordinance authorizes the appropriation and expenditure of FY 2014 HOME monies 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: $2,276,087 for the Affordable Housing Opportunity Fund, $513,983 for the HUD required 15% set aside for projects developed by Community Housing Development Organizations (CHDO), $171,327 for CHDO operating set-aside, and $65,155 for HOME administration.
Emergency action is requested to allow for continuation of vital program services without interruption.
FISCAL IMPACT: The City of Columbus has been awarded $3,426,552 by HUD in Fiscal Year 2014 (per the HUD website) to fund various housing assistance activities under the HOME Investment Partnerships Act. In addition, the City has generated $225,000 in HOME program income. This ordinance requests the appropriation of $3,026,552 and expenditure of $2,790,070 from the FY 2014 HOME entitlement. A separate ordinance will authorize the expenditure of the remaining HOME funds for CHDO operating grants ($171,327). Ordinance 0008-2014 passed January 13, 2014, authorized the appropriation and expenditure of 2014 HOME funds for Tenant-based Rental Assistance grants ($325,000) and HOME Administration ($300,000).
Title
To authorize the appropriation of $3,026,552.00 from the 2014 HOME Fund to the Department of Development; to authorize the expenditure of $2,790,070.00 from the 2014 HOME Fund to provide funding for various approved 2014 programs; and to declare an emergency. ($3,026,552.00)
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WHEREAS, it is necessary to appropriate and expend funds from the unappropriated balance of the 2014 HOME Fund to 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 appropriate and expend said funds to allow for continuation of vital program services without interruption, 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 from the unappropriated monies in the fund known as the HOME fund, Fund 201, Grant 458001 and from all monies estimated to come into said fund from any and all sources during the 12 months ending December 31, 2014, the amount of $3,026,552 is hereby appropriated to the Department of Development, Division 44-10 the following sums:
Program / Obj. Level One / Obj. Level Three / OCA Code / Amount
HOME Administration / 01 / 1101 / 444230 / $65,155
Affordable Housing Opportunity Fund / 05 / 5528 / 444231 / $2,276,087
CHDO Operating / 03 / 3336 / 444229 / $171,327
CHDO Set-aside (15%) / 05 / 5528 / 444233 / $513,983
TOTAL FUND NO. 201: $3,026,552
Section 2. That the monies appropriated in the foregoing Section 1 shall be paid upon the order of the Director of the Department of Development and that no order shall be drawn or money paid except by voucher, the form of which shall be approved by the City Auditor.
Section 3. 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 4. That the Director of the Department of Development is hereby authorized 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.
Section 5. That for the purpose as stated in Section 4, the expenditure of $2,790,070 or so much thereof as may be necessary, is hereby authorized from the Department of Development, Division 44-10, Fund 201, Grant 458001 as follows:
Program / Obj. Level One / Obj. Level Three / OCA Code / Amount
Affordable Housing Opportunity Fund / 05 / 5528 / 444231 / $2,276,087
CHDO Set-aside (15%) / 05 / 5528 / 444233 / $513,983
TOTAL FUND NO. 201: $2,790,070
Section 6. 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.