City of Columbus - File #: 0449-2006

• File #: 0449-2006
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 2/22/2006
• In control: Health, Housing & Human Services Committee
• On agenda: 3/13/2006
• Final action: 3/15/2006
• Title: To authorize the transfer of $155,147 within the HOME Fund; to authorize the Director of the Department of Development to expend of $155,147 of HOME Funds as match dollars for HOME Investment Partnerships eligible housing projects; and to declare an emergency. ($155,147)

Date	Ver.	Action By	Action	Result
3/15/2006	1	CITY CLERK	Attest
3/14/2006	1	MAYOR	Signed
3/13/2006	1	Columbus City Council	Approved	Pass
3/13/2006	1	COUNCIL PRESIDENT	Signed
3/2/2006	1	Dev Drafter	Sent for Approval
3/2/2006	1	Auditor Reviewer	Reviewed and Approved
3/2/2006	1	CITY AUDITOR	Reviewed and Approved
3/2/2006	1	Dev Drafter	Sent for Approval
3/2/2006	1	CITY ATTORNEY	Reviewed and Approved
3/2/2006	1	Dev Drafter	Sent to Clerk's Office for Council
3/1/2006	1	Auditor Reviewer	Reviewed and Approved
3/1/2006	1	CITY AUDITOR	Reviewed and Approved
3/1/2006	1	Dev Drafter	Sent for Approval
3/1/2006	1	Finance Reviewer	Reviewed and Approved
3/1/2006	1	FINANCE DIRECTOR	Reviewed and Approved
2/27/2006	1	DEVELOPMENT DIRECTOR	Reviewed and Approved
2/27/2006	1	Dev Drafter	Sent for Approval
2/24/2006	1	Dev Drafter	Sent for Approval

Explanation

BACKGROUND:
Ordinance 2533-94 passed November 28, 1994 and authorized the expenditure of $155,147.00 from the HOME Fund to be used a source of matching funds for the HOME Investment Partnerships entitlement award. The Auditor's Certificate was canceled which will now require new legislation. This Ordinance authorizes the transfer and expenditure of these funds for HOME Investment Partnerships eligible housing projects and primarily for downpayment assistance loans for first time homebuyers in compliance with US Department of Housing and Urban Development (HUD) regulations.

FISCAL IMPACT:
The monies represent repayments of prior years Housing Development Action Grant (HoDAG) funds originally expended for low-income housing development.




Title

To authorize the transfer of $155,147 within the HOME Fund; to authorize the Director of the Department of Development to expend of $155,147 of HOME Funds as match dollars for HOME Investment Partnerships eligible housing projects; and to declare an emergency. ($155,147)



Body

WHEREAS; Ordinance 2533-94 passed November 28, 1994 authorized the expenditure of $155,147.00 in the General Government Grant Fund; and

WHEREAS this Ordinance authorizes the transfer and expenditure of these funds for HOME Investment Partnerships eligible housing projects including down payment assistance for low and moderate income first time homebuyers in compliance with HUD regulations; and

WHEREAS; it is the desire of the Housing Division to expend these funds from the HOME Fund to assist low income families; and

WHEREAS, an emergency exists in the usual daily operation of the Department of Development in that it is immediately necessary to transfer said funds and authorize these expenditures so that this program can proceed with out delay, all for the preservation of the public peace, property, health safety and welfare; now, therefore,


BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBU...