Explanation
BACKGROUND: This legislation authorizes and directs the City Auditor to transfer $200,000.00 from the Special Income Tax Fund to the Housing Preservation Fund and authorizes the Director of the Department of Development to increase the existing universal term contracts with various contractors that provide emergency home repair services to low and moderate-income households in Columbus. These contracts are awarded as universal term contracts through the Purchasing Citywide bid process. The legislation authorizes the expenditure of $200,000 from the Housing Preservation Fund that was established to preserve the local supply of decent, safe, sanitary and affordable housing for low-income families. These services are needed to protect the health and safety of the citizens of Columbus. Emergency repair services will include heating, plumbing, electrical and other emergency home repairs.
The Housing Preservation Fund represents the City's commitment to the preservation of housing units affordable to very-low, low and moderate-income individuals. Funds are used to meet the housing needs identified in the Consolidated Plan to correct substandard and deteriorating conditions of homes owned by low and moderate- income households. The fund provides eligible homeowners with assistance for home repairs critical to preserving the housing stock and enabling homeowners to remain in their homes.
Emergency action is necessary to avoid an interruption in the delivery of vital program services.
FISCAL IMPACT: The Development Department received $3,500,000.00 in the 2008 Capital Improvement Budget for Housing Preservation projects. Bonds have yet to be sold; therefore, a transfer of cash from the Special Income Tax Fund is necessary. This ordinance authorizes the transfer of $200,000.00 from the Special Income Tax Fund to the Housing Preservation Fund and authorizes its expenditure.
Title
To amend the 2008 C.I.B.; to authorize and direct the City ...
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