Explanation
BACKGROUND: This ordinance authorizes the expenditure of up to $601,560.67 from the Northland and Other Acquisitions Fund to increase the local supply of decent, safe, and sanitary housing and decrease the number of vacant properties as part of the redevelopment efforts for the Franklinton Creative Community District. The funds will assist homebuyers, renters, for-profit and non-profit developers with grants for residential projects including both affordable and market rate housing.
This legislation is submitted as an emergency to allow the program activities to continue without interruption.
FISCAL IMPACT: $601,560.67 in funding is available in and will be expended from the 2014 Capital Improvements Budget in the Northland and Other Acquisitions Fund 735.
Title
To authorize the Director of the Department of Development to make financial assistance available as grants to homebuyers, renters, for-profit and non-profit organizations to increase the local supply of decent, safe, and sanitary housing and decrease the number of vacant properties as part of the redevelopment efforts within the Franklinton Creative Community District; to authorize the expenditure of $601,560.67 from the Northland and Other Acquisitions Fund; and to declare an emergency. ($601,560.67)
Body
WHEREAS, it is necessary to authorize the expenditure of monies from the Northland and Other Acquisitions Fund 735 to assist homebuyers, renters, for-profit and non-profit organizations with grants to increase the local supply of decent, safe, and sanitary housing and decrease the number of vacant properties as part of the redevelopment efforts within the Franklinton Creative Community District; and
WHEREAS, the Northland and Other Acquisitions Fund 735 will assist in the development of residential projects including both affordable and market rate housing; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development, Housing Division, in that it is immediately necessary to expend said funds to allow important program activities to continue without interruption, 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 the Director of the Department of Development is hereby authorized to make financial assistance available from the Northland and Other Acquisitions Fund 735 administered by the Housing Division and awarded as grants to homebuyers, renters, for-profit and non-profit organizations.
SECTION 2. That the expenditure of capital improvement budget funds from this authorization will be for the provision of grants to assist homebuyers, renters, for-profit and non-profit organizations with grants for projects designed to increase and preserve the local supply of decent, safe, and sanitary housing including both affordable and market rate housing as part of the redevelopment efforts within the Franklinton Creative Community District.
SECTION 3. That for the purpose as stated in Section 1, the expenditure of $601,560.67 or so much thereof as may be necessary, is hereby authorized from the Department of Development, Division 44-10, Fund 735, Project Number 440104-100005, Object Level One 06, Object Level Three 6617, OCA Code 735104.
SECTION 4. 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 5. That the City Auditor is authorized to make any accounting changes to revise the funding source for all contracts or contract modifications associated with this ordinance.
SECTION 6. That the City Auditor is hereby authorized to transfer the unencumbered balance in a project account to the unallocated balance account within the same fund upon receipt of certification by the Director of the Department administrating said project that the project has been completed and the monies are no longer required for said project.
SECTION 7. 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 approval by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes the same.