Explanation
BACKGROUND: This legislation authorizes the transfer of $2,250,000 within the General Government Grant Fund and the modification of the NSP2 Consortium Agreement with Community Development Collaborative of Greater Columbus (CD Collaborative). This transfer and modification to the CD Collaborative's Funding Agreement will allow the City and the CD Collaborative to work together to establish loan agreements between the City of Columbus and designated community development corporations to implement eligible projects approved by both the CD Collaborative and the City under the Neighborhood Stabilization Program 2 grant. The City of Columbus is the Lead Applicant of the NSP2 Consortium which is an association <http://en.wikipedia.org/wiki/Professional_body> of seven organizations and government entities formed for the purpose of applying for and implementing NSP2 funds. The CD Collaborative is a member of the NSP2 Consortium. Prior ordinance 0156-2010, as amended by ordinance 1278-2010, authorized the Director of the Department of Development to enter into consortium funding agreements with members of the NSP2 Consortium. The NSP2 funds provide for the acquisition, rehabilitation, redevelopment or demolition of foreclosed, abandoned and vacant properties in order to stabilize neighborhoods and stem the decline of housing values.
Emergency action is requested to avoid interruptions in program services.
FISCAL IMPACT: This legislation authorizes the transfer and expenditure of $2,250,000 in General Government Grant funds within the Department of Development. The City of Columbus was awarded $23,200,773 of Neighborhood Stabilization Program 2 (NSP2) grant funds under the American Reinvestment and Recovery Act of 2009 from the U.S. Department of Housing and Urban Development. A cancellation of Auditor's Certificate AC031454, Suffix 4 will make the funds available for this expenditure.
Title
To authorize and direct the City Auditor to cancel the balance on an Auditor's Certificate; to authorize and direct a transfer within the General Government Grant Fund; to authorize the Director of the Department of Development to modify the NSP2 Consortium Agreement with Community Development Collaborative of Greater Columbus; to authorize the expenditure of $2,250,000 from the General Government Grant Fund; and to declare an emergency. ($2,250,000)
Body
Whereas, this legislation authorizes the transfer and expenditure of $2,250,000 in General Government Grant funds within the Department of Development in order to modify a NSP2 Consortium Agreement with Community Development Collaborative of Greater Columbus; and
Whereas, the funds will provide for the acquisition, rehabilitation, redevelopment or demolition of foreclosed, abandoned and vacant properties in order to stabilize neighborhoods and stem the decline of housing values; and
Whereas, Community Development Collaborative of Greater Columbus agrees to work with the City to establish loan agreements between the City of Columbus and designated community development corporations to implement eligible projects approved by both the CD Collaborative and the City under the Neighborhood Stabilization Program 2 grant; and
Whereas, emergency action is requested to avoid interruptions in program services; and
Whereas, an emergency exists in the usual daily operation of the Department of Development, Housing Division, in that it is immediately necessary to transfer and expend the aforementioned grant 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 City Auditor is hereby authorized and directed to cancel $2,250,000 from Auditor's Certificate No. AC031454, Suffix 4.
Section 2. That the City Auditor is hereby authorized to transfer $2,250,000 within the General Government Grant Fund, Division 44-10, Fund No. 220, Grant No. 451036, Object Level One 05, Object Level Three 5528 as follows:
FROM:
OCA Code 441045
TO:
OCA Code 441043
Section 3. That the Development Director is hereby authorized to modify the NSP2 Consortium Agreement with the Community Development Collaborative of Greater Columbus by decreasing the contract amount $2,250,000 and to work with the CD Collaborative to establish loan agreements between the City of Columbus and designated community development corporations to implement eligible projects approved by both the CD Collaborative and the City under the Neighborhood Stabilization Program 2 grant.
Section 4. That for the purposes stated in Section 3 above, the expenditure of $2,250,000 or so much thereof as may be necessary is hereby authorized, from the Department of Development, Housing Division, Department No. 44-10, Fund No. 220, Grant No. 451036, Object Level One 05, Object Level Three 5528, OCA 441043.
Section 5. That in the reasons stated in the preamble hereto, which is hereby made a part thereof, 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.