Explanation
BACKGROUND: This legislation amends Ordinance 0146-2014 passed February 3, 2014, which authorized funding from the Community Development Block Grant (CDBG) for the first year of a two-year contract with AmeriNational Community Services, Inc. The prior year's contract has a balance of Neighborhood Stabilization Program (NSP) funds in the amount of $18,018.01. This amendment will allow the Department of Finance and Management to use this balance for the current contract.
This legislation is submitted as an emergency measure to ensure uninterrupted servicing of the loan portfolios.
FISCAL IMPACT: The total amount to be authorized for the first year of this two year contract is $120,000.00 and will remain unchanged. CDBG grant funds are amended to be reduced by $18,018.01 and NSP grant funds are amended to total $18,018.01. CDBG funds were appropriated on January 27, 2014 (Ordinance #0051-2014), NSP-1 grant funds were appropriated on January 26, 2009 (Ordinance #0007-2009), and NSP-2 grant funds were appropriated on June 7, 2010 (Ordinance #0800-2010).
Title
To amend Ordinance 0146-2014 passed February 3, 2014 to authorize the director of the Department of Finance and Management to reduce funding from the Community Development Block Grant (CDBG) fund by $18,018.01; to expend $18,018.01 or so much thereof as may be necessary from the Neighborhood Stabilization Program (NSP) grant for loan servicing; and to declare an emergency. ($0.00)
Body
WHEREAS, Ordinance 0146-2014, passed February 3, 2014, authorized funds for the first year of a two year contract entered into with AmeriNational Community Services, Inc. for the servicing of housing and commercial loans under the Community Development Block Grant (CDBG), HOME Investment Partnerships Program grant, and Neighborhood Stabilization Program (NSP) grants; and
WHEREAS, the funding is amended to include Neighborhood Stabilization Program (NSP) grant funds and reduce the amount of Community Development Block Grant funds.
WHEREAS, an emergency exists in the usual daily operation of the Department of Finance and Management in that it is immediately necessary to amend the funding for the contract with AmeriNational Community Services, Inc. to ensure uninterrupted servicing of loan portfolios, thereby preserving the public health, peace, property, safety, and welfare; Now, Therefore,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That Section 2 of Ordinance No. 0146-2014, passed February 3, 2014 is hereby amended to read as follows:
That the Director of the Department of Finance and Management is hereby authorized to expend $120,000.00 from the Community Development Block Grant Fund, Fund 248, and the Neighborhood Stabilization Program grants as follows:
Fund 248: Subfund |
Object Level 1 |
Object Level 3 |
OCA |
Amount |
001 |
03 |
3336 |
451404 |
$100,000 $87,988.00 |
002 |
03 |
3336 |
451406 |
$20,000 $13,993.99 |
TOTAL |
$120,000 |
Fund 220: Grant |
Object Level 1 |
Object Level 3 |
OCA |
Amount |
440500 |
03 |
3336 |
450500 |
12,186.98 |
451036 |
03 |
3336 |
451039 |
5,831.03 |
TOTAL: |
$120,000 |
SECTION 2. That prior existing Section 2 of Ordinance No. 0146-2014 is hereby repealed.
SECTION 3. That for the reasons stated in the preamble hereto, which is hereby made a part hereof, 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.