City of Columbus - File #: 0895-2007

• File #: 0895-2007
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 5/29/2007
• In control: Health, Housing & Human Services Committee
• On agenda: 6/25/2007
• Final action: 6/27/2007
• Title: To authorize an appropriation of $500,000 from the HOME Fund to the Department of Development; to authorize the Director of the Department of Development to enter into an agreement with Columbus Housing Partnership for the HUD Asset Control Area (ACA) initiative; to authorize the Director of the Department of Development to expend $500,000 of HOME Funds as match dollars for HOME Investment Partnerships for eligible housing projects; and to declare an emergency. ($500,000)

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	Taken from the Table	Pass
6/25/2007	1	Columbus City Council	Approved	Pass
6/25/2007	1	COUNCIL PRESIDENT	Signed
6/18/2007	1	Columbus City Council	Tabled to Certain Date	Pass
6/8/2007	1	City Clerk's Office	Sent back for Clarification/Correction
6/8/2007	1	Dev Drafter	Sent for Approval
6/8/2007	1	CITY AUDITOR	Reviewed and Approved
6/8/2007	1	Dev Drafter	Sent to Clerk's Office for Council
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	Auditor Reviewer	Reviewed and Approved
6/1/2007	1	CITY AUDITOR	Reviewed and Approved
6/1/2007	1	Dev Drafter	Sent for Approval
6/1/2007	1	CITY ATTORNEY	Reviewed and Approved
5/31/2007	1	Dev Drafter	Sent for Approval
5/31/2007	1	DEVELOPMENT DIRECTOR	Reviewed and Approved
5/31/2007	1	Dev Drafter	Sent for Approval
5/31/2007	1	Finance Reviewer	Reviewed and Approved
5/31/2007	1	Finance Reviewer	Reviewed and Approved
5/31/2007	1	FINANCE DIRECTOR	Reviewed and Approved

Explanation

BACKGROUND:
This legislation authorizes the appropriation and expenditure of $500,000.00 from the HOME Fund to be used a source of matching funds for the HOME Investment Partnerships entitlement award. This Ordinance authorizes the appropriation and expenditure of these funds for eligible housing projects and primarily for the acquisition and rehabilitation of housing for sale to qualified homebuyers in compliance with US Department of Housing and Urban Development (HUD) regulations. The Columbus Housing Partnership (CHP) will use the funds to assist in the implementation of their HUD Asset Control Area (ACA) initiative. CHP has an agreement with the U.S. Department of Housing and Urban Development to acquire and rehabilitate HUD foreclosed home in the Columbus area for homeownership.

FISCAL IMPACT:
The monies represent repayments of prior years Urban Development Action Grant (UDAG) funds. These funds are maintained in a separate Home Match account within the HOME Fund.



Title

To authorize an appropriation of $500,000 from the HOME Fund to the Department of Development; to authorize the Director of the Department of Development to enter into an agreement with Columbus Housing Partnership for the HUD Asset Control Area (ACA) initiative; to authorize the Director of the Department of Development to expend $500,000 of HOME Funds as match dollars for HOME Investment Partnerships for eligible housing projects; and to declare an emergency. ($500,000)


Body

WHEREAS, it is necessary to appropriate and expend funds from the unappropriated balance of the HOME Fund to the Department of Development; and

WHEREAS these funds will be used for eligible housing projects and primarily for the acquisition and rehabilitation of housing for sale to qualified homebuyers in compliance with US Department of Housing and Urban Development (HUD) regulations; and

WHEREAS; it is the desire of the Housing Division to expend these funds from the H...