Explanation
BACKGROUND: This legislation authorizes the Director of the Department of Development to enter into a contract with Homes On The Hill (HOTH) for The Homebuyer Education Program. The contract will provide $43,000 from the Community Development Block Grant Fund. The program will benefit the burgeoning and underserved Hispanic community, specifically in the HOTH service area, to become stable, home owning members of the Central Ohio Community in the HOTH area. This program will explain every facet of home purchase, including loan application, finding a realtor, protecting the home investment, home maintenance and inspection and loan closing procedures. This program will also offer financial and credit counseling in Spanish to individual clients and access to down payment assistance programs to help low and moderate income families purchase homes. This program will assist about 300 people.
FISCAL IMPACT: Funds for this expenditure are allocated from the 2004 Community Development Block Grant Fund budget.
Title
To authorize the Director of the Department of Development to enter into a contract with Homes On The Hill for The Homebuyer Education Program; and to authorize the expenditure of $43,000 from the Community Development Block Grant Fund. ($43,000.00)
Body
WHEREAS, the Department of Development, Housing Division, desires to enter into a contract with Homes On The Hill (HOTH) to fund The Hispanic Homebuyer Education Program; and
WHEREAS, The Hispanic Homebuyer Education Program will provide home buyer counseling to the Hispanic Community of Columbus; and
WHEREAS, the program will explain every facet of home purchase, including loan application, finding a realtor, protecting the home investment, home maintenance and inspection and loan closing procedures; and
WHEREAS, the program will also offer financial and credit counseling in Spanish to individual clients and access to down payment assistance programs to help low and moderate income families purchase homes; and
WHEREAS, Homes On The Hill (HOTH) is a non-profit organization; 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 enter into a contract with Homes On
The Hill (HOTH) to fund The Hispanic Homebuyer
Education Program.
Section 2. That this contract is awarded pursuant to Section 329.15 of
the Columbus City Codes, 1959, as amended.
Section 3. That for the purpose stated in Section 1, the expenditure of $43,000.00 or so much thereof as may be necessary, be and is hereby authorized to be expended from the Department of Development, Housing Division, Department No. 44-10, Fund 248, Object Level One 03, Object Level Three 3336, OCA Code 444127.
Section 4. This ordinance shall take effect and be in force from the earliest period allowed by law.