Explanation
BACKGROUND: This legislation authorizes the Director of the Department of Development to modify contract DL001135 with Columbus Housing Partnership by extending the contract termination date from December 31, 2003 to February 29, 2004. The additional time is needed to close out some final invoices that were received after December 31.
The contract supports the establishment of Individual Development Accounts (IDAs) Program. IDAs are dedicated savings accounts, similar to individual retirement accounts that can only be used for first-time home purchase, education expenses, or small business capitalization. An emergency is required to pay these invoices in a timely manner.
FISCAL IMPACT: No additional funds are needed for this modification.
Title
To authorize the Director of the Department of Development to modify a contract with Columbus Housing Partnership to extend the termination date to February 29, 2004; and to declare an emergency.
Body
WHEREAS, the Director of the Department of Development desires to modify Contract DL 001135 with Columbus Housing Partnership by extending the contract from December 31, 2003 to February 29, 2004; and
WHEREAS, the contract supports the establishment of Individual Development Accounts (IDAs) program; and
WHEREAS, this modification will allow the close out of this contract by paying the final invoices received after December 31, 2003 for participants who qualified in December; and
WHEREAS, an emergency exists in the usual daily operation of the City in that it is immediately necessary to extend the closing date of this contract so that the final invoices can be paid on time, all for the preservation of 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 the Director of the Department of Development is hereby authorized to modify Contract DL 001135 with Columbus Housing Partner...
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