City of Columbus - File #: 1489-2007

• File #: 1489-2007
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 9/11/2007
• In control: Health, Housing & Human Services Committee
• On agenda: 10/15/2007
• Final action: 10/16/2007
• Title: To authorize the appropriation of $1,675,000 from the Special Income Tax Fund: to authorize and direct the City Auditor to transfer $1,675,000.00 from the Special Income Tax Fund to the Housing Preservation Fund; to amend the 2007 Capital Improvements Budget; to authorize the Director of the Development Department to enter into an agreement with the Affordable Housing Trust Corporation for Columbus and Franklin County for the implementation of the Home Again Program; to authorize the expenditure of $1,675,000.00 from the Housing Preservation Fund; and to declare an emergency. ($1,675,000)

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	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
9/28/2007	1	Finance Reviewer	Reviewed and Approved
9/28/2007	1	FINANCE DIRECTOR	Reviewed and Approved
9/27/2007	1	Dev Drafter	Sent for Approval
9/27/2007	1	Finance Reviewer	Reviewed and Approved
9/14/2007	1	Finance Reviewer	Reviewed and Disapproved
9/13/2007	1	Finance Reviewer	Reviewed and Approved
9/12/2007	1	Dev Drafter	Sent for Approval
9/11/2007	1	Dev Drafter	Sent for Approval
9/11/2007	1	DEVELOPMENT DIRECTOR	Reviewed and Approved
9/11/2007	1	DEVELOPMENT DIRECTOR	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 Program. The AHTC currently facilitates the production of affordable housing and the enhancement of home ownership opportunities in Columbus. This legislation authorizes the expenditure of $1,675,000 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.

The Housing Preservation Fund represents the City's commitment to the preservation of housing units affordable to very-low, low and moderate-income individuals.

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

FISCAL IMPACT: The Development Department received $3,500,000.00 in the 2007 Capital Improvement Budget for Housing Preservation projects. Bonds have yet to be sold, therefore a transfer of cash from the Special Income Tax Fund is necessary.


Title

To authorize the appropriation of $1,675,000 from the Special Income Tax Fund: to authorize and direct the City Auditor to transfer $1,675,000.00 from the Special Income Tax Fund to the Housing Preservation Fund; to amend the 2007 Capital Improvements Budget; to authorize the Director of the Development Department to enter into...