City of Columbus - File #: 1036-2009

• File #: 1036-2009
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 7/13/2009
• In control: Health, Housing & Human Services Committee
• On agenda: 7/27/2009
• Final action: 7/29/2009
• Title: To authorize the Director of the Department of Development to assist for-profit and non-profit developers with grants and no or low interest loans for projects designed to increase and preserve the local supply of decent, safe, sanitary, and affordable housing for low income families; to authorize the expenditure of $768,000 from the HOME Fund; and to declare an emergency. ($768,000)

Date	Ver.	Action By	Action	Result
7/29/2009	1	CITY CLERK	Attest
7/28/2009	1	MAYOR	Signed
7/27/2009	1	Columbus City Council	Approved	Pass
7/27/2009	1	COUNCIL PRESIDENT PRO-TEM	Signed
7/15/2009	1	Dev Drafter	Sent for Approval
7/15/2009	1	CITY ATTORNEY	Reviewed and Approved
7/15/2009	1	Dev Drafter	Sent to Clerk's Office for Council
7/14/2009	1	Dev Drafter	Sent for Approval
7/14/2009	1	Finance Reviewer	Reviewed and Approved
7/14/2009	1	Finance Reviewer	Reviewed and Approved
7/14/2009	1	Finance Reviewer	Reviewed and Approved
7/14/2009	1	FINANCE DIRECTOR	Reviewed and Approved
7/14/2009	1	Dev Drafter	Sent for Approval
7/14/2009	1	Auditor Reviewer	Reviewed and Approved
7/14/2009	1	CITY AUDITOR	Reviewed and Approved
7/13/2009	1	Dev Drafter	Sent for Approval
7/13/2009	1	DEVELOPMENT DIRECTOR	Reviewed and Approved

Explanation

BACKGROUND: This legislation authorizes the expenditure of $768,000 from the HOME Fund to be used as a source of matching funds for the HOME Investment Partnerships entitlement award. The funds will assist for-profit and non-profit developers with grants and no or low interest loans for projects designed to increase and preserve the local supply of decent, safe, sanitary, and affordable housing for low income families.

Emergency action is requested to allow for payment to projects where commitment letters have been issued.

FISCAL IMPACT: The monies represent repayments of prior years Housing Development Action Grant funds. These funds are maintained in a separate Home Match account within the HOME Fund.


Title

To authorize the Director of the Department of Development to assist for-profit and non-profit developers with grants and no or low interest loans for projects designed to increase and preserve the local supply of decent, safe, sanitary, and affordable housing for low income families; to authorize the expenditure of $768,000 from the HOME Fund; and to declare an emergency. ($768,000)


Body

WHEREAS, it is the desire of the Housing Division to expend funds from the HOME Fund to assist low income families; and

WHEREAS, these funds will assist for-profit and non-profit developers with grants and no or low interest loans for projects designed to increase and preserve the local supply of decent, safe, sanitary, and affordable housing for low income families; and

WHEREAS, these monies represent repayments of prior years Housing Development Action Grant funds. These funds are maintained in a separate Home Match account within the HOME Fund; and

WHEREAS, an emergency exists in the usual daily operation of the Department of Development in that it is immediately necessary to authorize the expenditure of said funds to allow for payment to projects where commitment letters have been issued, all for the preservation of th...