Explanation
BACKGROUND: This legislation authorizes the transfer of $1,125,076.86 between OCA codes within the General Government Grant Fund to modify and increase the NSP2 Consortium Agreement with the Affordable Housing Trust for Columbus and Franklin County. The City of Columbus is the Lead Applicant of the NSP2 Consortium which is an association of seven organizations and government entities formed for the purpose of applying for and implementing NSP2 funds. The Affordable Housing Trust for Columbus and Franklin County is a member of the NSP2 Consortium. Prior ordinance 0156-2010 authorized the Director of the Department of Development to enter into consortium funding agreements with members of the NSP2 Consortium. The NSP2 funds will provide for the acquisition, rehabilitation, redevelopment or demolition of foreclosed, abandoned and vacant properties in order to stabilize neighborhoods and stem the decline of housing values.
Emergency action is requested to avoid interruptions in program services.
FISCAL IMPACT: $1,125,076.86 will be transferred between OCA Codes within the General Government Grant Fund.
Title
To authorize a transfer between OCA Codes within the General Government Grant Fund; to authorize the Director of the Department of Development to modify and increase the NSP2 Consortium Agreement with Affordable Housing Trust for Columbus and Franklin County; to authorize the expenditure of $1,125,076.86 from the General Government Grant Fund; and to declare an emergency ($1,125,076.86)
Body
Whereas, this legislation authorizes the transfer of funds between OCA Codes within the General Government Grant Fund, authorizes the Director of the Department of Development to modify a NSP2 Consortium Agreement with Affordable Housing Trust for Columbus and Franklin County, and authorizes the expenditure of $1,125,076.86 from the General Government Grant Fund; and
Whereas, the funds will provide for the acquisition, rehabilitation, redevelopment or demolition of foreclosed, abandoned and vacant properties in order to stabilize neighborhoods and stem the decline of housing values; and
Whereas, Affordable Housing Trust for Columbus and Franklin County will receive an additional $1,125,076.86 from a Neighborhood Stabilization Program 2 grant; and
Whereas, emergency action is requested to avoid interruptions in program services; and
Whereas, an emergency exists in the usual daily operation of the Department of Development, Housing Division, in that it is immediately necessary to transfer and expend the aforementioned grant funds, 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 City Auditor is hereby authorized to transfer $1,125,076.86 within the General Government Grant Fund, Division 44-10, Fund No. 220, Grant No. 451036 as follows:
FROM:
OCA Code / Object Level One / Amount
441043 / 05 / $665,076.86
441041 / 01 / $50,000.00
441042 / 01 / $80,000.00
441039 / 01 / $40,000.00
441059 / 01 / $240,000.00
451037 / 01 / $50,000.00
Total $1,125,076.86
TO:
OCA Code / Object Level One / Object Level Three / Amount
441050 / 05 / 5528 / $1,125,076.86
Section 2. That the Development Director is hereby authorized to modify the NSP2 Consortium Agreement with the Affordable Housing Trust for Columbus and Franklin County by increasing the contract amount $1,125,076.86.
Section 3. That for the purposes stated in Section 2 above, the expenditure of $1,125,076.86 or so much thereof as may be necessary is hereby authorized, from the Department of Development, Housing Division, Department No. 44-10, Fund No. 220, Grant No. 451036, Object Level One 05, Object Level Three 5528, OCA 441050.
Section 4. That in the reasons stated in the preamble hereto, which is hereby made a part thereof, this Ordinance is 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.