Explanation
BACKGROUND: This legislation authorizes the expenditure of $8,523.06 from the appropriated balance of Neighborhood Stabilization Program 1 (NSP1) grant, General Government Grant Fund. These funds are from cancelled obligations and are needed to obligate and expend for eligible projects and activities associated with the NSP1 Program.
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 March 3, 2013 as mandated by the City's NSP1 Grant Agreement with the U.S. Department of Housing and Urban Development.
FISCAL IMPACT: This legislation authorizes the expenditure of $8,523.06 of Neighborhood Stabilization Program (NSP1) funds from the General Government Grant Fund. The NSP Funds must be expended in Neighborhood Stabilization Program1 eligible projects and activities.
Title
To authorize the expenditure of $8,523.06 from the appropriated balance of 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; and to declare an emergency. ($8,523.06)
Body
WHEREAS, this legislation authorizes the expenditure of $8,523.06 from the appropriated balance of the Neighborhood Stabilization Program 1 (NSP1) grant, General Government Grant Fund; and
WHEREAS, these funds are available due to canceled NSP1 projects and contracts and must be expended in Neighborhood Stabilization Program eligible projects and activities; and
WHEREAS, 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 March 3, 2013 as mandated by the City's NSP1 Grant Agreement with the U.S. Department of Housing and Urban Development; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development in that it is immediately necessary to expend said funds so expenditures can be made by the end of the grant period, 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 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 1.
Section 2. That for the purpose as stated in Section 1, the expenditure of $8,523.06 or so much thereof as may be necessary, is hereby authorized from the Department of Development, Division 44-10, Fund 220, Grant 440500, Object Level One 05, Object Level Three 5528, OCA Code 440506.
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 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.