Explanation
BACKGROUND: This legislation authorizes the appropriation of $328,006.20 within the General Government Grant Fund to provide for staffing and administration costs within the Housing Division. These funds will allow the Housing Division to provide staffing for Housing Finance programs including Homeownership Development, Rental Production and Preservation, American Dream Downpayment Assistance and HOME Monitoring.
Emergency action is requested to avoid interruptions in administration and program services.
FISCAL IMPACT: Income from the Rental Rehabilitation Program is generated on the principal of amortized and deferred loans, allowing these funds to accumulate until sufficient amounts are available to fund affordable housing initiatives. $328,006.20 will be appropriated from the General Government Grant Fund in order to provide funds for staffing and administration costs for the Housing Division programs.
Title
To authorize the appropriation of $328,006.20 from the General Government Grant Fund to provide funding for Housing Division staffing and administration; and to declare an emergency. ($328,006.20)
Body
WHEREAS, this legislation authorizes the appropriation of $328,006.20 from the General Government Grant Fund; and
WHEREAS, these funds will allow the Housing Division to provide staffing for Housing Finance programs including Homeownership Development, Rental Production and Preservation, American Dream Downpayment Assistance and HOME Monitoring; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development, Housing Division, in that it is immediately necessary to appropriate the aforementioned funds to avoid interruptions in program services, 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. That from the unappropriated balance in the General Government Grant Fund, Fund 220, Grant 44801...
Click here for full text