City of Columbus - File #: 1625-2010

• File #: 1625-2010
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 11/3/2010
• In control: Housing Committee
• On agenda: 11/15/2010
• Final action: 11/17/2010
• Title: To authorize and direct the City Auditor to cancel the balance on an Auditor's Certificate; to authorize and direct a transfer within the General Government Grant Fund; to authorize the Director of the Department of Development to modify the NSP2 Consortium Agreement with Community Development Collaborative of Greater Columbus; to authorize the expenditure of $2,250,000 from the General Government Grant Fund; and to declare an emergency. ($2,250,000)

Date	Ver.	Action By	Action	Result
11/17/2010	1	CITY CLERK	Attest
11/16/2010	1	MAYOR	Signed
11/15/2010	1	Columbus City Council	Approved	Pass
11/15/2010	1	COUNCIL PRESIDENT	Signed
11/8/2010	1	Auditor Reviewer	Reviewed and Approved
11/8/2010	1	CITY AUDITOR	Reviewed and Approved
11/8/2010	1	Dev Drafter	Sent for Approval
11/8/2010	1	CITY ATTORNEY	Reviewed and Approved
11/8/2010	1	Dev Drafter	Sent to Clerk's Office for Council
11/5/2010	1	Finance Reviewer	Reviewed and Approved
11/5/2010	1	Finance Reviewer	Reviewed and Approved
11/5/2010	1	Finance Reviewer	Reviewed and Approved
11/5/2010	1	FINANCE DIRECTOR	Reviewed and Approved
11/5/2010	1	Dev Drafter	Sent for Approval
11/4/2010	1	Dev Drafter	Sent for Approval
11/4/2010	1	DEVELOPMENT DIRECTOR	Reviewed and Approved
11/4/2010	1	Dev Drafter	Sent for Approval

Explanation

BACKGROUND: This legislation authorizes the transfer of $2,250,000 within the General Government Grant Fund and the modification of the NSP2 Consortium Agreement with Community Development Collaborative of Greater Columbus (CD Collaborative). This transfer and modification to the CD Collaborative's Funding Agreement will allow the City and the CD Collaborative to work together to establish loan agreements between the City of Columbus and designated community development corporations to implement eligible projects approved by both the CD Collaborative and the City under the Neighborhood Stabilization Program 2 grant. The City of Columbus is the Lead Applicant of the NSP2 Consortium which is an association of seven organizations and government entities formed for the purpose of applying for and implementing NSP2 funds. The CD Collaborative is a member of the NSP2 Consortium. Prior ordinance 0156-2010, as amended by ordinance 1278-2010, authorized the Director of the Department of Development to enter into consortium funding agreements with members of the NSP2 Consortium. The NSP2 funds provide for the acquisition, rehabilitation, redevelopment or demolition of foreclosed, abandoned and vacant properties in order to stabilize neighborhoods and stem the decline of housing values.

Emergency action is requested to avoid interruptions in program services.

FISCAL IMPACT: This legislation authorizes the transfer and expenditure of $2,250,000 in General Government Grant funds within the Department of Development. The City of Columbus was awarded $23,200,773 of Neighborhood Stabilization Program 2 (NSP2) grant funds under the American Reinvestment and Recovery Act of 2009 from the U.S. Department of Housing and Urban Development. A cancellation of Auditor's Certificate AC031454, Suffix 4 will make the funds available for this expenditure.


Title

To authorize and direct the City Auditor to cancel t...