City of Columbus - File #: 0288-2007

• File #: 0288-2007
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 2/12/2007
• In control: Health, Housing & Human Services Committee
• On agenda: 2/26/2007
• Final action: 2/27/2007
• Title: To authorize the Director of the Department of Development to enter into an agreement with the Affordable Housing Trust Corporation for Columbus and Franklin County to undertake the acquisition and rehabilitation components of the Home Again Initiative; to authorize the expenditure of $750,000 from the 2006 Capital Improvements Fund; and to declare an emergency. ($750,000)

Date	Ver.	Action By	Action	Result
2/27/2007	1	MAYOR	Signed
2/27/2007	1	CITY CLERK	Attest
2/26/2007	1	Columbus City Council	Approved	Pass
2/26/2007	1	COUNCIL PRESIDENT	Signed
2/16/2007	1	Dev Drafter	Sent to Clerk's Office for Council
2/15/2007	1	CITY ATTORNEY	Reviewed and Approved
2/14/2007	1	CITY AUDITOR	Reviewed and Approved
2/14/2007	1	CITY AUDITOR	Reviewed and Approved
2/14/2007	1	Dev Drafter	Sent for Approval
2/13/2007	1	Finance Reviewer	Reviewed and Approved
2/13/2007	1	FINANCE DIRECTOR	Reviewed and Approved
2/13/2007	1	Dev Drafter	Sent for Approval
2/12/2007	1	Dev Drafter	Sent for Approval
2/12/2007	1	DEVELOPMENT DIRECTOR	Reviewed and Approved
2/12/2007	1	Dev Drafter	Sent for Approval
2/12/2007	1	Finance Reviewer	Reviewed and Approved

Explanation

BACKGROUND: This legislation authorizes the Director of the Department of Development to enter into an agreement with the Affordable Housing Trust Corporation (AHTC) for Columbus and Franklin County. The funds provided by the agreement will be used to undertake the acquisition and rehabilitation components of the Home Again Initiative. The AHTC currently facilitates the production of affordable housing and the enhancement of home ownership opportunities in Columbus. This legislation authorizes the expenditure of $750,000 to the AHTC for the acquisition and rehabilitation of vacant houses to increase the supply of decent, safe, sanitary and affordable housing as well as to enhance neighborhood revitalization activities. The program will also assist in building the capacity of neighborhood-based non-profit organizations. Specifically, the proposal is to provide the funds to AHTC to selectively target acquisitions of vacant properties for redevelopment and to ensure maximum neighborhood revitalization potential. The AHTC may also receive properties from the city that are acquired via the enforcement process.

Emergency action is necessary to allow for the AHTC to immediately begin the acquisition process.

FISCAL IMPACT: Funding is from the Housing Preservation Fund - 2006 Capital Improvements Budget.



Title

To authorize the Director of the Department of Development to enter into an agreement with the Affordable Housing Trust Corporation for Columbus and Franklin County to undertake the acquisition and rehabilitation components of the Home Again Initiative; to authorize the expenditure of $750,000 from the 2006 Capital Improvements Fund; and to declare an emergency. ($750,000)



Body

WHEREAS, this legislation authorizes the Director of the Department of Development to enter into an agreement with the Affordable Housing Trust Corporation (AHTC) for Columbus and Franklin County; and

WHEREAS, the funds provided by the agreem...