Explanation
BACKGROUND: This ordinance authorizes the appropriation and expenditure of FY 2010 HOME monies and program income within the HOME Investment Partnerships Program for the Department of Development. The funds will assist 1st time homebuyers, for-profit and non-profit organizations with grants and no or low interest loans for projects designed to increase and preserve the local supply of decent, safe, sanitary, and affordable housing for low and moderate income families. This ordinance is in accordance with the 2010-2014 Consolidated Plan and application to the U.S. Department of Housing and Urban Development (HUD). The funds will be allocated as follows: $3,792,076.60 for the Affordable Housing Opportunity Fund, $780,980.70 for the HUD required 15% set aside for projects developed by Community Housing Development Organizations (CHDO), $260,326.90 for CHDO operating set-aside, and $173,153.80 for HOME administration.
Emergency action is requested to allow for continuation of services without interruption.
FISCAL IMPACT: The City of Columbus is awarded $5,206,538.00 by the United States Department of Housing and Urban Development (HUD) in Fiscal Year 2010 to fund various housing assistance activities under the HOME Investment Partnerships Act. In addition, the City has generated $525,000.00 of HOME program income that is required to be used for HOME-eligible activities. This ordinance requests the appropriation of $5,006,538.00 and expenditure of $4,573,057.30 from the total FY 2010 HOME entitlement and program income amounts of $5,731,538.00. A separate ordinance will authorize the expenditure of the remaining HOME funds for CHDO operating grants ($260,326.90). Ordinance No. 0116-2010 passed January 25, 2010 authorized the appropriation and expenditure of 2010 HOME funds for Tenant-based Rental Assistance grants ($325,000.00) and HOME Administration ($400,000.00).
Title
To authorize the appropriation of $5,006,538.00 from the 2010 HOME Fund to the Department of Development; to authorize the expenditure of $4,573,057.30 from the 2010 HOME Fund to provide funding for various approved 2010 programs; and to declare an emergency. ($5,006,538.00)
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WHEREAS, it is necessary to appropriate and expend funds from the unappropriated balance of the 2010 HOME Fund to the Department of Development; and
WHEREAS, HOME funds will be used to assist 1st time homebuyers, for-profit and non-profit organizations with grants and no or low interest loans for projects designed to increase and preserve the local supply of decent, safe, sanitary, and affordable housing for low income families; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development, Housing Division, in that it is immediately necessary to appropriate and expend said funds to allow for continuation of services 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 in the fund known as the HOME fund, Fund No. 201, Grant No. 458001 and from all monies estimated to come into said fund from any and all sources during the 12 months ending December 31, 2010, is hereby appropriated to the Department of Development, Division 44-10 the following sums:
Program / Obj. Level One / Obj. Level Three / OCA Code / Amount
Affordable Housing Opportunity Fund / 05 / 5528 / 440131 / $3,792,076.60
CHDO Set-aside (15%) / 05 / 5528 / 440133 / $780,980.70
HOME Administration / 01 / 1101 / 440130 / $173,153.80
CHDO Operating / 03 / 3336 / 440132 / $260,326.90
TOTAL FUND NO. 201 $5,006,538.00
Section 2. That the monies appropriated in the foregoing Section 1 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 3. That the Director of the Department of Development is hereby authorized to assist 1st time homebuyers, for-profit and non-profit organizations with grants and no or low interest loans for projects designed to increase and preserve the local supply of decent, safe, sanitary, and affordable housing for low income families.
Section 4. That for the purpose as stated in Section 3, the expenditure of $4,573,057.30 or so much thereof as may be necessary, is hereby authorized from the Department of Development, Division 44-10, Fund 201, Grant No. 458001 as follows:
Program / Obj. Level One / Obj. Level Three / OCA Code / Amount
Affordable Housing Opportunity Fund / 05 / 5528 / 440131 / $3,792,076.60
CHDO Set-aside (15%) / 05 / 5528 / 440133 / $780,980.70
Total $4,573,057.30
Section 5. 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.