Explanation
BACKGROUND: This legislation authorizes the expenditure of $184,657.86 from the FY 2000 HOME Fund for Community Housing Development Organizations (CHDOs). The funds will assist non-profit CHDOs with grants and no or low interest loans for projects designed to increase and preserve the local supply of decent, safe, sanitary, and affordable housing for low income families. These funds are available due to a canceled encumbrance.
Emergency action is requested to allow for the funds to be invested in a pending project.
FISCAL IMPACT: The monies represent CHDO set aside funds from the FY 2000 HOME fund allocation.
Title
To authorize the Director of the Department of Development to assist non-profit Community Housing Development Organizations with grants and no or low interest loans for projects designed to increase and preserve the local supply of decent, safe, sanitary, and affordable housing for low income families; to authorize the expenditure of $184,657.86 of FY 2000 HOME Funds; and to declare an emergency. ($184,657.86)
Body
WHEREAS, it is the desire of the Housing Division to expend funds from the FY 2000 HOME Fund to Community Development Housing Organizations (CHDOs) to assist low income families; and
WHEREAS these funds will assist non-profit CHDOs with grants and no or low interest loans for projects designed to increase and preserve the local supply of decent, safe, sanitary, and affordable housing for low income families; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development in that it is immediately necessary to authorize the expenditure of said funds so that this program can proceed without delay, all for the preservation of the public peace, property, health 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 assist non-profit Community Housing Development Organizations with grants and no or low interest loans for projects designed to increase and preserve the local supply of decent, safe, sanitary, and affordable housing for low income families.
Section 2. That for the purposes stated in Section 1 hereof, the expenditure of $184,657.86, or so much therof as may be necessary, is hereby authorized from Department No. 44-10, Fund 201, Object Level One 05, Object Level Three 5528, OCA Code 441318, Grant No. 458001.
Section 3. 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 passage and approval by the Mayor or ten days after passage if the Mayor neither approves nor vetoes the same.