Explanation
BACKGROUND: This ordinance authorizes the appropriation and expenditure of FY 2008 HOME monies within the HOME Investment Partnerships Program for the Department of Development. The funds will assist for-profit and non-profit developers 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. This ordinance is in accordance with Ordinance No. 1581-2007 passed November 16, 2007, authorizing the adoption and filing of the Consolidated Plan and application to the U.S. Department of Housing and Urban Development (HUD). The original award of $4,704,450 was appropriated by Ordinance No. 0231-2008. The actual HOME funds award was an increase of $237.00 over the amount of the allocation originally announced by HUD ($4,704,687).
The additional funds will be allocated as follows: $177.75 for the Affordable Housing Opportunity Fund, $35.55 for the HUD required 15% set aside for projects developed by Community Housing Development Organizations (CHDOs), and $23.70 for HOME administration.
Emergency action is requested to proceed with projects that are ready to begin.
FISCAL IMPACT: The City of Columbus was awarded $4,704,687 by the United States Department of Housing and Urban Development (HUD) to fund various housing assistance activities under the HOME Investment Partnerships Act. The actual award was an increase of $237.00 over the amount of the allocation originally announced by HUD.
Title
To authorize an appropriation of $237.00 from the 2008 HOME Fund to the Department of Development; to authorize the expenditure of $213.30 from the HOME Fund to provide funding for various approved 2008 programs; and to declare an emergency. ($237.00)
Body
WHEREAS, it is necessary to appropriate and expend funds from the unappropriated balance of the 2008 HOME Fund to the Department of Development; and
WHEREAS, the original HOME award of $4,704,450 was appropriated by Ordinance No. 0231-2008. The actual HOME funds award was an increase of $237.00 over the amount of the allocation originally announced by HUD ($4,704,687); and
WHEREAS , HOME funds will be used to assist for-profit and non-profit developers 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, Housing Division, in that it is immediately necessary to appropriate and expend said funds to proceed with projects that are ready to begin 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 from the unappropriated monies in the fund known as the HOME fund, Fund No. 201 and from all monies estimated to come into said fund from any and all sources during the 12 months ending December 31, 2009, there be and hereby is appropriated to the following Division the following sums:
Division 44-1
Program / Object Level One / Object Level Three / OCA / Grant / Amount
Affordable Housing
Opportunity Fund 05 / 5528 / 448131 / 458001 / $177.75
CHDO Set-aside (15%) 05 / 5528 / 448133 / 458001 / $35.55
HOME Administration 01 / 1101 / 448130 / 458001 / $23.70
TOTAL FUND NO. 201 $237.00
Section 2. That the monies appropriated in the foregoing Section 1 shall be paid upon the order of the Director of the Department of Development and that no order shall be drawn or money paid except by voucher, the form of which shall be approved by the City Auditor.
Section 3. That the Director of the Department of Development is hereby authorized to assist for-profit and non-profit developers 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 4. That for the purpose as stated in Section 3, the expenditure of $213.30 or so much thereof as may be necessary, is hereby authorized from the Department of Development, Division 44-10, Fund 201 as follows:
Program / Object Level One / Object Level Three / OCA / Grant / Amount
Affordable Housing
Opportunity Fund 05 / 5528 / 448131 / 458001 / $177.75
CHDO Set-aside (15%) 05 / 5528 / 448133 / 458001 / $35.55
Total $213.30
Section 5. That for the reasons stated in the preamble hereto, which is hereby made a part thereof, 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.