Explanation
BACKGROUND: This ordinance authorizes the expenditure of up to $2,325,000 from the Housing Preservation Fund 782 to increase the local supply of decent, safe, and sanitary housing and decrease the number of vacant properties in our neighborhoods. 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's activities to continue without interruption.
FISCAL IMPACT: $2,325,000 in funding is available in and will be expended from the Housing Preservation Fund 782 of the 2012 Capital Improvements Budget.
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 in our neighborhoods; to authorize the expenditure of $2,325,000.00 from the 2012 Housing Preservation Fund; and to declare an emergency. ($2,325,000.00)
Body
WHEREAS, it is necessary to authorize the expenditure of monies from the Housing Preservation Fund 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 in our neighborhoods.
WHEREAS, the Housing Preservation Fund will assist homebuyers, renters, for-profit and non-profit developers with grants for 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 the program's 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 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.
Section 2. That for the purpose as stated in Section 1, the expenditure of $2,325,000 or so much thereof as may be necessary, is hereby authorized from the Department of Development, Division 44-10, Fund 782, Project Number 782001-100000, Object Level One 06, Object Level Three 6617, OCA Code 782001.
Section 3. That the monies authorized in the foregoing Section 2 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 4. That the Director of the Department of Development is hereby authorized to make financial assistance available from the Housing Preservation Fund 782 administered by the Housing Division and awarded as grants to homebuyers, renters, for-profit and non-profit organizations.
Section 5. That the City Auditor is authorized to make any accounting changes to revise the funding source for any contract or contract modification associated with the expenditure of the funds in Section 2 above.
Section 6. 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.