Explanation
BACKGROUND:
This legislation authorizes the transfer of $325,000 between projects within the Housing Preservation Fund and authorizes the expenditure of $325,000 for the provision of grants for projects that preserve the local supply of decent, safe, sanitary and affordable housing for low-income families.
The Housing Preservation Fund represents the City's commitment to the preservation of housing units affordable to very-low, low and moderate-income individuals. Funds will be used to meet the housing needs identified in the Consolidated Plan to correct substandard and deteriorating conditions of homes owned by low and moderate income households. The program will provide eligible homeowners with assistance for home repairs critical to preserving the housing stock and enabling homeowners to remain in their homes.
Emergency action is necessary to allow for payment of projects currently underway at this time.
FISCAL IMPACT:
Funding is transferred within the Housing Preservation Fund.
Title
To authorize the transfer of $325,000 between projects within the Housing Preservation Fund; to authorize the expenditure of $325,000 from the Housing Preservation Fund for the purpose of making grants for the operation of the Housing Preservation Fund from city bond proceeds; and to declare an emergency. ($325,000)
Body
WHEREAS, the Department of Development, Housing Division desires to administer a Housing Preservation Fund from city bond proceeds; and
WHEREAS, these monies will be used to provide grants to preserve the supply of decent, safe, sanitary and affordable housing; and
WHEREAS, emergency action is necessary to allow for prompt payment of projects currently underway; 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 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 make grants for the various affordable housing programs administered by the Housing Division which include grants to correct substandard and deteriorating conditions of homes owned by low and moderate income households.
Section 2. That for the purpose as stated in Section 1, the transfer of $325,000 within the Housing Preservation Fund from Project 782001 to Project 782002 and the expenditure of $325,000 or so much thereof as may be necessary, is hereby authorized from the Department of Development, Division 44-10, Fund 782, Project No. 782002, Object Level One 06, Object Level Three 6617, OCA Code 782002.
Section 3. That expenditures of capital improvements budget funds from this authorization will be in accordance with U.S. Department of Housing and Urban Development Regulations 24 CFR Part 570.200-206, CDBG Eligibility, to ensure consistency of housing programs and income eligibility for housing rehabilitation programs as administered by the Housing Division.
Section 4. 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.