Explanation
BACKGROUND: This legislation authorizes the transfer of $300,000 between projects within the Housing Preservation Fund and authorizes the Director of the Department of Development to enter into an agreement with the Affordable Housing Trust for Columbus and Franklin County (AHT). The funds provided by the agreement will be used to undertake the acquisition and rehabilitation components of the Home Again Initiative. The AHT currently facilitates the production of affordable housing and the enhancement of home ownership opportunities in Columbus. This legislation authorizes the expenditure of $350,000 to the AHT for the acquisition and rehabilitation of vacant houses to increase the supply of decent, safe, sanitary and affordable housing as well as to enhance neighborhood revitalization activities. The program will also assist in building the capacity of neighborhood-based non-profit organizations. Specifically, the proposal is to provide the funds to AHT to selectively target acquisitions of vacant properties for redevelopment and to ensure maximum neighborhood revitalization potential.
Emergency action is necessary to allow for payment of projects currently underway at this time.
FISCAL IMPACT: Funding is transferred within the Housing Preservation Fund.
Title
To authorize the Director of the Department of Development to enter into an agreement with the Affordable Housing Trust for Columbus and Franklin County to implement a component of the city's Home Again Initiative; to amend the 2007 Capital Improvements Budget; to authorize the transfer of $300,000 between projects within the Housing Preservation Fund; to authorize the expenditure of $350,000 from the Housing Preservation Fund; and to declare an emergency. ($350,000)
Body
WHEREAS, the Department of Development, Housing Division desires to administer a Housing Preservation Fund from city bond proceeds; and
WHEREAS, the Department of Development desires to enter into an agreement with the Affordable Housing Trust for Columbus and Franklin County and to expend $350,000 in bond proceeds; and
WHEREAS, these monies will be used to assist in implementing the Home Again Initiative to preserve the supply of decent, safe, sanitary and affordable housing; and
WHEREAS, emergency action is necessary to allow for prompt payment of projects currently underway; 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 said 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 Director of the Department of Development is hereby authorized to enter into an agreement with the Affordable Housing Trust for Columbus and Franklin County to implement a component of the city's Home Again Initiative to convert vacant houses to productive use.
Section 2. That the 2007 Capital Improvements Budget, Ordinance No. 0733-2007, is hereby amended as follows:
CURRENT:
Fund |
Project No. |
Project |
Amount |
782 |
782001 |
Housing Preservation |
$1,550,000.00 |
782 |
782004 |
Vacant Housing Demolition |
$ 450,000.00 |
AMENDED:
Fund |
Project No. |
Project |
Amount |
782 |
782001 |
Housing Preservation |
$1,850,000.00 |
782 |
782004 |
Vacant Housing Demolition |
$ 150,000.00 |
Section 3. That the City Auditor is authorized to make any accounting changes to revise the funding source for all contracts or contract modifications associated with this ordinance.
Section 4. That the City Auditor is hereby authorized and directed to transfer $300,000 within the Housing Preservation Fund, Fund 782, Division 44-10, Object Level One 06, Object Level Three 6616, OCA Code 782001 from Project 782004 to Project 782001.
Section 5. That for the purpose as stated in Section 1, the expenditure of $350,000 or so much thereof as may be necessary, is hereby authorized from the Department of Development, Division 44-10, Fund 782, Project No. 782001, Object Level One 06, Object Level Three 6616, OCA Code 782001.
Section 6. That expenditure of capital improvements budget funds from this authorization will be for acquisition and subsequent rehabilitation of vacant houses for sale to income eligible households.
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.