Explanation
BACKGROUND: This legislation authorizes the Director of the Department of Development to amend contract DL008097 with Homes On The Hill (HOTH) for the Homebuyer Education Program. The contract amount will be increased by $18,000 to $61,000 and extended by six months from January 31, 2005 to July 30, 2005.
The program will benefit the burgeoning and underserved Hispanic community, specifically in the HOTH service area, to become stable, home owning members of the Central Ohio Community in the HOTH area. This program explains every facet of home purchase, including loan application, finding a realtor, protecting the home investment, home maintenance and inspection and loan closing procedures. This program will also offer financial and credit counseling in Spanish to individual clients and access to down payment assistance programs to help low and moderate income families purchase homes. This program assists about 300 people.
FISCAL IMPACT: Funds for this expenditure are allocated from the 2004 Community Development Block Grant Fund budget.
Title
To authorize the Director of the Department of Development to amend the Homebuyer Education Program contract with Homes On The Hill by increasing the contract amount and extending the contract time frame by six months; and to authorize the expenditure of $18,000 from the Community Development Block Grant Fund. ($18,000.00)
Body
WHEREAS, the Department of Development, Housing Division, desires to amend contract number DL008097 with Homes On The Hill (HOTH) to fund The Hispanic Homebuyer Education Program; and
WHEREAS, this amendment will increase the contract by $18,000 and extend the contract time frame by six months; and
WHEREAS, The Hispanic Homebuyer Education Program provides home buyer counseling to the Hispanic Community of Columbus; and
WHEREAS, the program explains every facet of home purchase, including loan application, finding a realtor, protecting the home investment, home maintenance and inspection and loan closing procedures; and
WHEREAS, the program also offers financial and credit counseling in Spanish to individual clients and access to down payment assistance programs to help low and moderate income families purchase homes; and
WHEREAS, Homes On The Hill (HOTH) is a non-profit organization; 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 amend contract number DL008097 with Homes On The Hill (HOTH) to increase funding for The Hispanic Homebuyer Education Program and to extend the contract time frame by six months until July 30, 2005.
Section 2. That this modification is awarded pursuant to Section 329.16 of the Columbus City Codes, 1959 as amended.
Section 3. That for the purpose stated in Section 1, the expenditure of $18,000.00 or so much thereof as may be necessary, be and is hereby authorized to be expended from the Department of Development, Housing Division, Department No. 44-10, Fund 248, Object Level One 03, Object Level Three 3336, OCA Code 444127.
Section 4. This ordinance shall take effect and be in force from the earliest period allowed by law.