City of Columbus - File #: 1818-2007

• File #: 1818-2007
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 10/29/2007
• In control: Health, Housing & Human Services Committee
• On agenda: 11/12/2007
• Final action: 11/15/2007
• Title: To authorize an appropriation of $1,000,000 from the HOME Fund to the Department of Development; to authorize the Director of the Department of Development to expend $1,000,000 of HOME Funds as match dollars for HOME Investment Partnerships for eligible housing projects; and to declare an emergency. ($1,000,000)

Date	Ver.	Action By	Action	Result
11/15/2007	1	CITY CLERK	Attest
11/13/2007	1	MAYOR	Signed
11/12/2007	1	Columbus City Council	Approved	Pass
11/12/2007	1	COUNCIL PRESIDENT	Signed
10/31/2007	1	CITY ATTORNEY	Reviewed and Approved
10/31/2007	1	Dev Drafter	Sent to Clerk's Office for Council
10/30/2007	1	Dev Drafter	Sent for Approval
10/30/2007	1	DEVELOPMENT DIRECTOR	Reviewed and Approved
10/30/2007	1	Dev Drafter	Sent for Approval
10/30/2007	1	Finance Reviewer	Reviewed and Approved
10/30/2007	1	Finance Reviewer	Reviewed and Approved
10/30/2007	1	FINANCE DIRECTOR	Reviewed and Approved
10/30/2007	1	Dev Drafter	Sent for Approval
10/30/2007	1	Auditor Reviewer	Reviewed and Approved
10/30/2007	1	CITY AUDITOR	Reviewed and Approved
10/30/2007	1	Dev Drafter	Sent for Approval

Explanation

BACKGROUND:
This legislation authorizes the appropriation and expenditure of $1,000,000 from the HOME Fund to be used 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 of 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 an appropriation of $1,000,000 from the HOME Fund to the Department of Development; to authorize the Director of the Department of Development to expend $1,000,000 of HOME Funds as match dollars for HOME Investment Partnerships for eligible housing projects; and to declare an emergency. ($1,000,000)


Body

WHEREAS, it is necessary to appropriate and expend funds from the unappropriated balance of the HOME Fund to the Department of Development; 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, it is the desire of the Housing Division to expend these funds from the HOME Fund to assist low income families; and

WHEREAS, an emergency exists in the usual daily operation of the Department of Development in that it is immediately necessary to appropriate said funds and authorize these expenditures so that this program can proceed with out delay, all for the preservation of the public peace, property, health safety and welfare; now, therefore,


BE IT ORDAINED BY THE CO...