Explanation
BACKGROUND: The Affordable Housing Trust for Columbus and Franklin County combines public and private funding through a variety of sources to support the development of housing within the City. Both rental units and homeownership projects are developed.
In 2009 the City will commit its annual contribution of the hotel/motel tax receipts to the Affordable Housing Trust for Columbus and Franklin County at an estimated $1,125,000 or whatever greater or lesser sum of money may be received through the portion of the Hotel/Motel Excise Tax fund allocated to the Affordable Housing Trust for Columbus and Franklin County. The amount allocated ($1,125,000) is based on 0.43% in relation to the 5.1% total city rate, less $266,000. Ordinance 0495-2009, passed 3/30/09, transferred $150,000 from the Housing Trust Fund to the Health Special Revenue Fund to support the Columbus Neighborhood Health Centers. A subsequent ordinance will allocate $100,000 to the Municipal Court Judges for purposes of expanding the Specialty Court Docket, and $16,000 for the Municipal Court Clerk.
This legislation is presented as an emergency because of the need to continue program services without interruption.
FISCAL IMPACT: This legislation authorizes and directs the appropriation and expenditure of 0.43% of the combined rates of 5.1% of the Hotel/Motel Excise Tax fund, less $266,000, presently estimated at $1,125,000.
Title
To authorize the Director of the Development Department to enter into a contract with the Affordable Housing Trust for Columbus and Franklin County to facilitate the production of affordable housing and enhance home ownership opportunities in Columbus; to authorize the appropriation and expenditure of 0.43% (presently estimated at $1,125,000) of the combined rates of 5.1% of the Hotel/Motel Excise Tax, less $266,000 to authorize the transfer of $116,000 to the Public Safety Initiatives Fund and to repeal ordinance 0657-2009; and to declare an emergency. (...
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