Explanation
BACKGROUND: This legislation authorizes the modification of contract EA023977 between the City of Columbus and the Affordable Housing Trust for Columbus and Franklin County (the Trust) to permit $100,000.00 of the monies received under the contract by the Trust to be used for the 2007 operating expenses of the Trust. The money previously received by the Trust under this contract is being used to support the development of public and private funding through a variety of sources to support the development of housing within the City. Due to financial constraints, the Trust needs money for its 2007 operations so that it may continue to support the development of housing within the City.
The Affordable Housing Trust for Columbus and Franklin County is a non-profit corporation charged with facilitating the production of housing within Columbus. The Trust 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 will be developed.
This legislation is presented as an emergency because of the need to continue program services without interruption.
FISCAL IMPACT: No additional funds are necessary for this contract modification.
Title
To authorize the modification of a contract between the City of Columbus and the Affordable Housing Trust for Columbus and Franklin County to permit $100,000.00 of the monies received under the contract to be used for the 2007 operating expenses; and to declare an emergency.
Body
Whereas, the Director of the Department of Development desires to modify Contract EA023977 between the City of Columbus and the Affordable Housing Trust for Columbus and Franklin County (the Trust) to permit $100,000.00 of the monies received under the contract by the Trust to be used for the 2007 operating expenses; and
Whereas, this modification will allow the Trust to continue public and private funding throu...
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