City of Columbus - File #: 0872-2007

• File #: 0872-2007
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 5/23/2007
• In control: Health, Housing & Human Services Committee
• On agenda: 6/25/2007
• Final action: 6/27/2007
• Title: To authorize an appropriation of $657,943 from unappropriated HOME program income funds to the Department of Development; and to authorize the expenditure of $753,302 from the HOME Fund to provide funding for various approved 2007 programs. ($753,302)

Date	Ver.	Action By	Action	Result
6/27/2007	1	CITY CLERK	Attest
6/26/2007	1	MAYOR	Signed
6/25/2007	1	Columbus City Council	Approved	Pass
6/25/2007	1	COUNCIL PRESIDENT	Signed
6/18/2007	1	Columbus City Council	Read for the First Time
6/4/2007	1	Dev Drafter	Sent to Clerk's Office for Council
6/1/2007	1	Dev Drafter	Sent for Approval
6/1/2007	1	CITY ATTORNEY	Reviewed and Approved
5/31/2007	1	Finance Reviewer	Reviewed and Approved
5/31/2007	1	FINANCE DIRECTOR	Reviewed and Approved
5/31/2007	1	Dev Drafter	Sent for Approval
5/31/2007	1	Auditor Reviewer	Reviewed and Approved
5/31/2007	1	CITY AUDITOR	Reviewed and Approved
5/30/2007	1	DEVELOPMENT DIRECTOR	Reviewed and Approved
5/30/2007	1	Dev Drafter	Sent for Approval
5/30/2007	1	Finance Reviewer	Reviewed and Approved
5/24/2007	1	Dev Drafter	Sent for Approval

Explanation

BACKGROUND: This ordinance authorizes the appropriation and expenditure of HOME program income monies within the HOME Investment Partnerships Program for the Department of Development. The funds will assist for-profit and non-profit developers with grants and no or low interest loans for projects designed to increase and preserve the local supply of decent, safe, sanitary, and affordable housing for low income families.

The appropriation of $657,943 from unappropriated HOME program income funds will be added to $185,359 of appropriated funds for a total appropriation of $843,302. The funds will be allocated as follows: $753,302 for the Affordable Housing Opportunity Fund, and $90,000 for HOME administration.

FISCAL IMPACT: The City of Columbus receives program income from prior year investments of HOME funds in various rental and homeownership housing developments. These funds are to be reinvested in HOME eligible activities.


Title

To authorize an appropriation of $657,943 from unappropriated HOME program income funds to the Department of Development; and to authorize the expenditure of $753,302 from the HOME Fund to provide funding for various approved 2007 programs. ($753,302)



Body


WHEREAS, it is necessary to appropriate and expend funds from HOME Program Income funds to the Department of Development; and

WHEREAS, HOME Program Income funds will be used to assist for-profit and non-profit developers with grants and no or low interest loans for projects designed to increase and preserve the local supply of decent, safe, sanitary, and affordable housing for low income families; and NOW, THEREFORE,


BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:


Section 1. That from the unappropriated monies in the fund known as the HOME fund, Fund No. 201, Grant
458001, Division 44-10 and from all monies estimated to come into said fund from any and all
sources during the 12 months ending December 31, 2007, ...