Explanation
This legislation appropriates $1,795,028.00 from the unappropriated balance of the Land Management Fund for the administration of the Land Reutilization Program (Land Bank) and the Affordable Housing Strategy within the Department of Development’s Land Redevelopment Division. This appropriation and expenditure is for the 2025 fiscal year and is in addition to funding provided by the Division from the General Fund.
The Land Management Fund was created in September 1998 to provide funds for various expenses associated with the management and maintenance of properties held in the Columbus Land Bank. For 2025, these funds will also be used for the implementation of the Affordable Housing Strategy.
EMERGENCY JUSTIFICATION: Emergency action is requested so that funds can be available at the start of the 2025 budget year.
Fiscal Impact: This legislation appropriates $1,795,028.00 from the unappropriated balance of the Land Management Fund (Fund 2206) for the 2025 budget year. The unappropriated balance of this fund is approximately $2,332,621.02.
Title
To authorize the appropriation of $1,795,028.00 from the unappropriated balance of the Land Management Fund to the Department of Development to provide funds for the administration of the Land Redevelopment Division for budget year 2025; and to declare an emergency. ($1,795,028.00)
Body
WHEREAS, the Land Management Fund was created in September 1998 to provide funds for various expenses associated with the management and maintenance of properties held in the Land Bank; and
WHEREAS, for 2025, these funds will also be used for the implementation of the Affordable Housing Strategy; and
WHEREAS, it is necessary to appropriate $1,795,028.00 from the unappropriated balance of the Land Management Fund to the Department of Development for the administration of the Division of Land Redevelopment for budget year 2025; and
WHEREAS, the unappropriated balance of this fund is approximately $2,332,621.02...
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