Explanation
BACKGROUND: This legislation authorizes the transfer of $89,351.64, the appropriation of $13,474.25, and the expenditure of $70,143.64 within the General Government Grant Fund, Neighborhood Stabilization Program 2. Funds are needed to obligate and expend for eligible projects and activities associated with the Neighborhood Stabilization Program 2 (NSP2) Grant.
This ordinance is submitted as an emergency so as to allow the expenditure of funds to be made prior to the end of the grant's required expenditure deadline period of February 11, 2013 as mandated by the City's NSP2 Grant Agreement with the U.S. Department of Housing and Urban Development.
FISCAL IMPACT: This ordinance authorizes the transfer of $89,351.64, the appropriation of $13,474.25, and the expenditure of $70,143.64 within the General Government Grant Fund, NSP2 Grant.
Title
To authorize and direct the transfer of $89,351.64 within the General Government Grant Fund; to authorize the appropriation of $13,474.25 from the General Government Grant Fund to the Department of Development; to authorize the expenditure of $70,143.64 from the General Government Grant Fund to provide funding for obligations and expenditures related to the Neighborhood Stabilization Program 2 grant; and to declare an emergency. ($89,351.64)
Body
WHEREAS, this legislation authorizes the transfer of $89,351.64, the appropriation of $13,474.25, and the expenditure of $70,143.64 within the General Government Grant Fund, NSP2 Grant to provide funding for the Department of Development obligations and expenses relating to the NSP2 Grant; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development in that it is immediately necessary to transfer, appropriate and expend said funds so expenditures can be made by the end of the grant period, thereby preserving the public health, peace, property, safety and welfare; Now, Therefore,
BE IT ORDAINED BY THE COUNCIL OF THE C...
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