Explanation
BACKGROUND: This legislation authorizes the transfer of $264,569.71 and expenditure of $229,769.49 of Neighborhood Stabilization Program (NSP1) funds from the General Government Grant Fund. Funds are needed to obligate and expend for eligible projects and activities associated with the Neighborhood Stabilization Program (NSP).
This modification to the City's NSP1 budget does not result in a greater than 20% increase in one activity's original budget (Neighborhood Stabilization Fund).
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 close out period as mandated by the City's NSP1 Grant Agreement with the U.S. Department of Housing and Urban Development.
FISCAL IMPACT: This ordinance authorizes the transfer of $264,569.71 and expenditure of $229,769.49 of NSP1 funds within the General Government Grant Fund. The $229,769.49 of NSP1 Funds must be expended in Neighborhood Stabilization Program eligible projects and activities. The funds are transferred from other activities.
Title
To authorize and direct the City Auditor to cancel $57,743.33 from Auditor's Certificates; to authorize the transfer of $264,569.71 within 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; to authorize the expenditure of $229,769.49 from General Government Grant Fund, Neighborhood Stabilization Program1 grant; and to declare an emergency. ($264,569.71)
Body
WHEREAS, this legislation authorizes the transfer of $264,569.71 and the expenditure of $237,177.76 of NSP1 funds from the General Government Grant Fund to provide funding for the Department of Development obligations and expenses relating to the Neighborhood Stabilization Program; and
WHEREAS, this modification to the City's NSP1 budget does not result in a greater than 20% increase in one activity's original budget (Neighborhood Stabilization Fund); and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development in that it is immediately necessary to transfer and 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 City Auditor be and is hereby authorized to cancel $57,743.33 from two Auditor's Certificates as follows:
AC031393-002 $46,455.10
AC031393-005 $11,288.23
Total: $57,743.33
SECTION 2. That the City Auditor be and is hereby authorized and directed to transfer, within the General Government Grant Fund, Fund 220, Grant 440500, $264,569.71 as follows:
FROM:
Division: 45-01 Object Level One 01, OCA Code 450500, Amount $100,647.73
Division: 44-01, Object Level One 01, OCA Code 440501, Amount $46,455.10
Division: 44-03, Object Level One 01, OCA Code 499049, Amount $11,288.23
Division: 44-10, Object Level One 03, OCA Code 440502, Amount $106,178.65
TO:
Division: 44-10, Object Level One 01, OCA Code 440505, Amount $35,000
Division: 44-10, Object Level One 05, Object Level Three 5528, OCA Code 440506, Amount $229,569.71
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 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.
SECTION 5. That for the purpose as stated in Section 4 the expenditure of $229,769.49 or so much thereof as may be necessary, is hereby authorized from the Department of Development, Division 44-10, Fund 220, Object Level One 05, Object Level Three 5528, OCA Code 440506.
SECTION 6. 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.