City of Columbus - File #: 0657-2011

• File #: 0657-2011
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 4/19/2011
• In control: Health, Housing & Human Services Committee
• On agenda: 5/9/2011
• Final action: 5/12/2011
• Title: To amend the 2011 CIB; to authorize the City Auditor to transfer funds within the Housing Preservation Fund; to authorize the Director of the Department of Development to purchase six vacant lots from Samaritan Project Community Development Corporation to place in the City's Land Bank for future housing development; and to authorize the expenditure of $90,000.00 from the Housing Preservation Fund. ($90,000.00)

Date	Ver.	Action By	Action	Result
5/12/2011	1	CITY CLERK	Attest
5/11/2011	1	MAYOR	Signed
5/9/2011	1	Columbus City Council	Approved	Pass
5/9/2011	1	COUNCIL PRESIDENT	Signed
5/2/2011	1	Columbus City Council	Read for the First Time
4/21/2011	1	Finance Reviewer	Reviewed and Approved
4/21/2011	1	Finance Reviewer	Reviewed and Approved
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	DEVELOPMENT DIRECTOR	Reviewed and Approved
4/20/2011	1	Dev Drafter	Sent for Approval
4/20/2011	1	Finance Reviewer	Reviewed and Approved
4/19/2011	1	Dev Drafter	Sent for Approval

Explanation

BACKGROUND: This legislation authorizes the expenditure of up to $90,000 to foster the local supply of decent, safe, sanitary and affordable housing for low-income families. In addition, this legislation authorizes the City Auditor to transfer funds within the Housing Preservation Fund. The Housing Preservation Fund represents the City's commitment to the preservation of affordable housing units and the revitalization of Columbus neighborhoods. Funds will be used to purchase six vacant lots from Samaritan Project Community Development Corporation to place in the City's Land Bank for future housing development in the area.

FISCAL IMPACT: A total of up to $90,000 of Capital Improvement bonds will be expended. Cash of $40,000.02 is available from an amendment and transfer in the 2011 CIB. The remaining funds ($49,999.98) will be expended from the Housing Preservation Fund 746 of 2010 Capital Improvements Budget.


Title

To amend the 2011 CIB; to authorize the City Auditor to transfer funds within the Housing Preservation Fund; to authorize the Director of the Department of Development to purchase six vacant lots from Samaritan Project Community Development Corporation to place in the City's Land Bank for future housing development; and to authorize the expenditure of $90,000.00 from the Housing Preservation Fund. ($90,000.00)


Body

WHEREAS, it is necessary to expend funds from the Housing Preservation Fund to preserve the local supply of decent, safe, sanitary and affordable housing for low-income families of; and

WHEREAS, funds will be used to purchase six vacant lots from Samaritan Project Community Development Corporation to place in the City's Land Bank for future housing development in the area; and

WHEREAS, it is necessary for this Council to authorize the City Auditor to transfer funds within the Housing Preservation Fund; and

WHEREAS, it is necessary to authorize an amendment to the 2011 Capital Improvements Bu...