Explanation
BACKGROUND
This ordinance authorizes the appropriation of FY 2004 HOME monies within the HOME Program for the Department of Development. The funds will be used within the Department to administer the HOME Program and to enter into two contracts to provide tenant-based rental assistance.
The HOME Program assists for-profit and non-profit developers 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. It also provides funds for tenant-based rental assistance and to Community Housing Development Organizations. This ordinance is in accordance with Ordinance Number 2310-2003 authorizing the adoption and filing of the Consolidated Plan and application to the U.S. Department of Housing and Urban Development (HUD).
Emergency action is requested to prevent the interruption of City administration and tenant-based rental assistance programs.
FISCAL IMPACT
The City of Columbus anticipates an award of $5,472,975 by the United States Department of Housing and Urban Development (HUD) to fund various housing assistance activities under the HOME Investment Partnerships Act. This ordinance requests the appropriation of $725,000 from the total FY 2004 HOME entitlement of $5,472,975.
Title
To authorize the appropriation of $725,000 from the HOME Fund to the Department of Development to provide funds for tenant-based rental assistance and HOME Program administration; and to declare an emergency. ($725,000)
Body
WHEREAS, it is necessary to appropriate funds from the unappropriated balance of the 2004 HOME Fund to the Department of Development; and
WHEREAS, the City may use 10% of the total allocation for administering the various HOME programs; and
WHEREAS, the City may expend HOME funds for the activities of the Affordable Housing Opportunity Fund in accordance with eligible activities as specified in the 24 CFR Part 92 such as tenant-based rental assistance; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development in that it is immediately necessary to appropriate said funds to prevent the interruption of City administration and tenant-based rental assistance programs; 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 No. 201, Grant 458001, Division
44-10 and from all monies estimated to come into said fund
from any and all sources during the 12 months ending
December 31, 2004, there be and hereby is appropriated to
the following Division the following sums:
OBJECT OBJECT
LEVEL LEVEL OCA
PROGRAM ONE THREE CODE AMOUNT
HOME Administration 01 1101 444130 $400,000
HOME Affordable Housing 03 3336 444131 $325,000
Opportunity Fund
Total Fund 201 $725,000
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 for the reasons stated in the preamble hereto, which is
hereby made a part hereof, this Ordinance is hereby declare
to be an emergency measure and shall take effect and be in
force from and after its approval by the Mayor, or ten day
after passage if the Mayor neither approves nor vetoes the
same.