City of Columbus - File #: 1600-2007

• File #: 1600-2007
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 10/1/2007
• In control: Health, Housing & Human Services Committee
• On agenda: 10/15/2007
• Final action: 10/16/2007
• Title: To authorize the expenditure of $30,000 in program income from the Rental Rehabilitation Program to reimburse the City's HOME account with the U.S. Department of Housing and Urban Development from which the original HOME dollars were drawn; and to declare an emergency. ($30,000.00)

Date	Ver.	Action By	Action	Result
10/16/2007	1	MAYOR	Signed
10/16/2007	1	ACTING CITY CLERK	Attest
10/15/2007	1	Columbus City Council	Approved	Pass
10/15/2007	1	COUNCIL PRESIDENT	Signed
10/2/2007	1	Dev Drafter	Sent to Clerk's Office for Council
10/1/2007	1	Dev Drafter	Sent for Approval
10/1/2007	1	DEVELOPMENT DIRECTOR	Reviewed and Approved
10/1/2007	1	Dev Drafter	Sent for Approval
10/1/2007	1	Finance Reviewer	Reviewed and Approved
10/1/2007	1	Finance Reviewer	Reviewed and Approved
10/1/2007	1	FINANCE DIRECTOR	Reviewed and Approved
10/1/2007	1	Dev Drafter	Sent for Approval
10/1/2007	1	Auditor Reviewer	Reviewed and Approved
10/1/2007	1	CITY AUDITOR	Reviewed and Approved
10/1/2007	1	Dev Drafter	Sent for Approval
10/1/2007	1	CITY ATTORNEY	Reviewed and Approved

Explanation

BACKGROUND:
This ordinance authorizes the expenditure of $30,000 in program income from the Rental Rehabilitation Program. The funds will be used to reimburse the City's HOME account with the U.S. Department of Housing and Urban Development (HUD) from which the original HOME dollars were drawn. The reimbursement of non-Federal funds was mandated by HUD in response to a Samaritan Community Development Corporation housing project in which an ineligible buyer purchased a home in which City HOME funds were invested. This mandate is in accordance with the HOME regulations at 92.503 (3) and must be complied with by October 16, 2007.

Emergency action is requested in order to comply with the HUD mandate to reimburse the funds by October 16, 2007.

FISCAL IMPACT:
Income from the Rental Rehabilitation Program is generated on the principal of amortized and deferred loans, allowing these funds to accumulate until sufficient amounts are available to fund affordable housing initiatives.


Title

To authorize the expenditure of $30,000 in program income from the Rental Rehabilitation Program to reimburse the City's HOME account with the U.S. Department of Housing and Urban Development from which the original HOME dollars were drawn; and to declare an emergency. ($30,000.00)


Body

WHEREAS, the Department of Development desires to expend earned income from the Rental Rehabilitation Program to reimburse the City's HOME account with the U.S. Department of Housing and Urban Development from which the original HOME dollars were drawn; and

WHEREAS, the reimbursement to the HOME account was mandated by HUD in response to a Samaritan Community Development Corporation housing project in which an ineligible buyer purchased a home in which City HOME funds were invested; and

WHEREAS, an emergency exists in the usual daily operation of the Department of Development, Housing Division, in that it is immediately necessary to expend said funds t...