Explanation
BACKGROUND: This ordinance authorizes the appropriation of a portion of the FY 2007 HOME monies within the HOME Investment Partnerships Program for the Department of Development. Since the federal government has not yet finalized the 2007 funding levels for the HOME Program, an ordinance is needed to appropriate critical components of the program. Specifically, administrative dollars and funding for Tenant Based Rental Assistance (TBRA) activities are immediately needed. This ordinance is in accordance with Ordinance No. 1748-2006 passed November 6, 2006, authorizing the adoption and filing of the Consolidated Plan and application to the U.S. Department of Housing and Urban Development (HUD).
The funds will be allocated as follows: $325,000 for the Affordable Housing Opportunity Fund - Tenant Based Rental Assistance (TBRA) and $400,000 for HOME administration. It is anticipated that the city of Columbus will receive in excess of $5,000,000 in HOME funding. The balance of the HOME dollars will be requested to be appropriated and expended once the actual allocation amount is received from HUD.
Emergency action is requested to allow for payment of projects where commitment letters have been issued.
FISCAL IMPACT: The City of Columbus is awarded approximately $5 million by the United States Department of Housing and Urban Development (HUD) to fund various housing assistance activities under the HOME Investment Partnerships Program. This ordinance requests the appropriation of $725,000. Separate ordinances are being submitted for the expenditure of the Tenant Based Rental Assistance ($325,000). In addition, once the allocation amount is received from HUD a request will be made to city council to appropriate and expend the balance of the HOME dollars.
Title
To authorize an appropriation of $725,000 from the HOME Fund to provide funding for various approved 2007 programs; and to declare an emergency. ($725,000)
Body
WHEREAS, it is necessary to appropriate funds from the unappropriated balance of the 2007 HOME Fund to the Department of Development; and
WHEREAS, HOME funds will be used to assist for-profit and non-profit developers 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 payment of projects where commitment letters have been issued 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 and from all monies estimated to come into said fund from any and all sources during the 12 months ending December 31, 2007, there be and hereby is appropriated to the following Division the following sums:
Division 44-10 OBJECT OBJECT
LEVEL LEVEL OCA
PROGRAM ONE THREE CODE GRANT AMOUNT
Affordable Housing
Opportunity Fund 03 3336 440533 458001 $325,000
HOME Administration 01 1101 440532 458001 $366,447
03 3334 440532 458001 $ 33,553
TOTAL FUND NO. 201 $725,000
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 for-profit and non-profit developers 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 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.