City of Columbus - File #: 1091-2004

• File #: 1091-2004
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 6/8/2004
• In control: Health, Housing & Human Services Committee
• On agenda: 6/28/2004
• Final action: 7/1/2004
• Title: To authorize the appropriation and expenditure of $727,047 from the HOME Fund to the Department of Development to provide funding for the American Dream Down Payment Initiative (ADDI); and to declare an emergency. ($727,047)

Date	Ver.	Action By	Action	Result
7/1/2004	1	MAYOR	Signed
7/1/2004	1	CITY CLERK	Attest
6/28/2004	1	Columbus City Council	Approved	Pass
6/28/2004	1	COUNCIL PRESIDENT	Signed
6/14/2004	1	Dev Drafter	Sent to Clerk's Office for Council
6/11/2004	1	Dev Drafter	Sent for Approval
6/11/2004	1	Auditor Reviewer	Reviewed and Approved
6/11/2004	1	CITY AUDITOR	Reviewed and Approved
6/11/2004	1	Dev Drafter	Sent for Approval
6/11/2004	1	CITY ATTORNEY	Reviewed and Approved
6/10/2004	1	DEVELOPMENT DIRECTOR	Reviewed and Approved
6/10/2004	1	Dev Drafter	Sent for Approval
6/10/2004	1	Finance Reviewer	Reviewed and Approved
6/10/2004	1	FINANCE DIRECTOR	Reviewed and Approved
6/9/2004	1	Dev Drafter	Sent for Approval

Explanation

BACKGROUND
This ordinance authorizes the appropriation and expenditure of FY 2003 and 2004 HOME monies earmarked as the American Dream Down Payment Initiative (ADDI) within the HOME Investment Partnerships Program for the Department of Development. The funds will assist first time, low and moderate-income homebuyers to purchase homes within the city of Columbus. This ordinance is in accordance with Ordinance No. 0725-04, passed April 19, 2004, authorizing the amendment to 2000-2004 Consolidated Plan as submitted to the U.S. Department of Housing and Urban Development (HUD).


Emergency action is requested to allow for payment of projects currently under consideration at this time.


FISCAL IMPACT
The City of Columbus was awarded $727,047 by HUD to fund first time homebuyer activities under the HOME Investment Partnerships Program and particularly the ADDI. This ordinance requests the appropriation and expenditure of $727,047 from the total FY 2003 and 2004 HOME ADDI entitlement of $727,047.



Title

To authorize the appropriation and expenditure of $727,047 from the HOME Fund to the Department of Development to provide funding for the American Dream Down Payment Initiative (ADDI); and to declare an emergency. ($727,047)



Body

WHEREAS, it is necessary to appropriate funds from the unappropriated balance of the 2003 and 2004 HOME Fund to the Department of Development to support the American Dream Down Payment Initiative (ADDI); and

WHEREAS, these funds will be used to assist first time, low and moderate income homebuyers to purchase a home within the city of Columbus; and

WHEREAS, emergency action is requested in order to process applications that have already been received by the Housing Division; 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 and expend said funds thereby preserving the public h...