Explanation
BACKGROUND:
This legislation authorizes the expenditure of $1,103,241 for the provision of loans and grants for projects that preserve and increase the local supply of decent, safe, sanitary and affordable housing for low-income families.
The Affordable Housing Opportunity Fund represents the City's commitment to the preservation and production of housing units affordable to very-low, low and moderate-income individuals. Funds will be used to meet the housing needs identified in the Consolidated Plan through repair, and/or rehabilitation of homeowner units. Programs will provide homeowner assistance with home repairs in Neighborhood Pride areas, home maintenance repairs for seniors, accessibility modifications, and sewer tie ins or water connection assistance.
Emergency action is necessary to allow program services to continue without interruption.
FISCAL IMPACT:
Funding is from the 2006 Community Development Block Grant Fund.
Title
To authorize the expenditure of $1,103,241 from the 2006 Community Development Block Grant Fund for the purpose of making loans and grants for operation of the Affordable Housing Opportunity Fund; and to declare an emergency. ($1,103,241)
Body
WHEREAS, the Department of Development, Housing Division desires to administer an Affordable Housing Opportunity Program; and
WHEREAS, these monies will be used to provide loans and grants to preserve and increase the supply of decent, safe, sanitary and affordable housing; and
WHEREAS, emergency action is necessary to allow program services to continue without interruption; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development, Housing Division, in that it is immediately necessary to authorize the expenditure of 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. Th...
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