City of Columbus - File #: 0647-2011

• File #: 0647-2011
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 4/18/2011
• In control: Health, Housing & Human Services Committee
• On agenda: 5/2/2011
• Final action: 5/4/2011
• Title: To authorize the Director of the Department of Development to the accept $12,900 of HOME Match funds being returned to the City by Columbus Housing Partnership (CHP); to authorize the appropriation of these monies within the HOME Fund; to authorize the expenditure of $12,900 of HOME Funds as match dollars for HOME Investment Partnerships for eligible housing projects; and to declare an emergency. ($12,900.00)

Date	Ver.	Action By	Action	Result
5/4/2011	1	CITY CLERK	Attest
5/3/2011	1	MAYOR	Signed
5/2/2011	1	Columbus City Council	Approved	Pass
5/2/2011	1	COUNCIL PRESIDENT	Signed
4/21/2011	1	FINANCE DIRECTOR	Reviewed and Approved
4/21/2011	1	Dev Drafter	Sent for Approval
4/21/2011	1	Auditor Reviewer	Reviewed and Approved
4/21/2011	1	CITY AUDITOR	Reviewed and Approved
4/21/2011	1	Dev Drafter	Sent for Approval
4/21/2011	1	CITY ATTORNEY	Reviewed and Approved
4/21/2011	1	Dev Drafter	Sent to Clerk's Office for Council
4/20/2011	1	Finance Reviewer	Reviewed and Approved
4/19/2011	1	Dev Drafter	Sent for Approval
4/19/2011	1	Finance Reviewer	Reviewed and Approved
4/19/2011	1	Finance Reviewer	Reviewed and Approved
4/18/2011	1	Dev Drafter	Sent for Approval
4/18/2011	1	DEVELOPMENT DIRECTOR	Reviewed and Approved

Explanation

BACKGROUND: The purpose of this ordinance is to authorize the Director of the Department of Development to accept funds being returned to the City by Columbus Housing Partnership (CHP). The HOME Match funds are being returned by CHP in order that the City can issue new loan documents showing the City is the lender of affordability assistance to the homebuyer.

CHP will be repaid the funds it is returning through the proceeds from the sale of the home.

This legislation is submitted as an emergency in order to benefit an eligible homebuyer to purchase an affordable home.

FISCAL IMPACT: The City will receive repayment of $12,900 of HOME Match funds from the Columbus Housing Partnership and will loan the funds directly to an eligible homebuyer for affordability assistance in the purchase of an affordable home. This ordinance contains an appropriation within the HOME Match Fund and authorizes expenditure for this purpose.


Title

To authorize the Director of the Department of Development to the accept $12,900 of HOME Match funds being returned to the City by Columbus Housing Partnership (CHP); to authorize the appropriation of these monies within the HOME Fund; to authorize the expenditure of $12,900 of HOME Funds as match dollars for HOME Investment Partnerships for eligible housing projects; and to declare an emergency. ($12,900.00)


Body

WHEREAS, Columbus Housing Partnership desires to return $12,900 of HOME Match funds to the City; and

WHEREAS, the Department of Development proposes to loan $12,900 of HOME Match funds to an eligible homebuyer to assist in meeting an affordability gap in purchasing an affordable house; and

WHEREAS, an emergency exists in the usual daily operation of the City of Columbus in that it is immediately necessary to accept, appropriate and expend $12,900 in order to benefit an eligible homebuyer with the purchase of an affordable home, all for the preservation of public health, peace, property,...