Explanation
BACKGROUND: This ordinance authorizes the appropriation and expenditure of up to $635,304 from the General Permanent Improvement Fund 7748 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 homeowners, homebuyers, renters, for-profit and non-profit developers with deferred loans, grants and the returning of funds for residential projects including both affordable and market rate housing.
This legislation is submitted as an emergency to allow for homeowners in need to be provided with services.
FISCAL IMPACT: Cash is available in the General Permanent Improvement Fund 7748 of the 2018 Capital Improvements Budget.
Title
To authorize the appropriation of $635,304.00 from the General Permanent Improvement Fund; to authorize the Director of the Department of Development to make financial assistance available as loans, grants or returning of funds to homeowners, 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 $635,304.00 from the General Permanent Improvement Fund; and to declare an emergency. ($635,304.00)
Body
WHEREAS, it is necessary to authorize the expenditure of monies from the General Permanent Improvement Fund to assist homeowners, homebuyers, renters, for-profit and non-profit organizations with loans to increase the local supply of decent, safe, and sanitary housing and decrease the number of vacant properties in our neighborhoods; and
WHEREAS, the General Permanent Improvement Fund will assist homeowners, homebuyers, renters, for-profit and non-profit developers with loans 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 from the unappropriated monies and from all monies estimated to come into said fund from any and all sources and unappropriated for any other purpose during the fiscal year ended December 31, 2019, the sum of $635,304.00 is appropriated in Fund 7748 in Object Class 06, Capital Outlay per the accounting codes in the attachment to this ordinance.
SECTION 2. That the expenditure of general permanent improvement funds from this authorization will be for the provision of loans, grants or the returning of funds to assist homeowners, homebuyers, renters, for-profit and non-profit organizations with loans for projects designed to increase and preserve the local supply of decent, safe, and sanitary housing including both affordable and market rate housing.
SECTION 3. That the Director of the Department of Development is hereby authorized to make financial assistance available from the General Permanent Improvement Fund 7748 administered by the Housing Division and awarded as loans to homeowners, homebuyers, renters, for-profit and non-profit organizations.
SECTION 4. That for the purpose as stated in Section 3, the expenditure of $635,304.00 or so much thereof as may be necessary, is hereby authorized to be expended from the General Permanent Improvement Fund, Fund 7748, Object Class 06, Capital Outlay per the accounting codes in the attachment to this ordinance.
SECTION 5. 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 6. That the City Auditor is authorized to make any accounting changes to revise the funding source for all contracts or contract modification associated with this ordinance.
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.