Explanation
BACKGROUND: This legislation authorizes the expenditure of $331,385 for the provision of loans and/or grants for projects that preserve and increase the local supply of decent, safe, sanitary and affordable housing for low-income families. The source of funding is the Community Development Block Grant Fund awarded to the City by the U.S. Department of Housing and Urban Development (HUD).
The Affordable Housing Opportunity Fund represents the City's commitment to the preservation and production of housing units affordable to very-low, low and moderate-income individuals. Eligible households must meet the HUD income eligibility requirements of 80% AMI or below. Funds will be used to meet the housing needs identified in the Consolidated Plan. Programs will provide housing rehabilitation assistance for owner-occupied, single family homes of homeowners.
Emergency action is requested to avoid interruptions in program services.
FISCAL IMPACT: Funding is from the 2013 Community Development Block Grant Fund.
Title
To authorize the Director of the Department of Development to make loans and grants for the operation of the Affordable Housing Opportunity Program; to authorize the expenditure of $331,385.00 from the 2013 Community Development Block Grant Fund; and to declare an emergency. ($331,385.00)
Body
WHEREAS, the Department of Development, Housing Division desires to administer an Affordable Housing Opportunity Program; and
WHEREAS, this legislation authorizes the expenditure of $331,385.00 for the provision of loans and grants for projects that preserve and increase the local supply of decent, safe, sanitary and affordable housing for low-income families; and
WHEREAS, the Affordable Housing Opportunity Fund represents the City's commitment to the preservation and production of housing units affordable to very-low, low and moderate-income
WHEREAS, funds will be used to meet the housing needs identified in the Consolidated Plan; and
WHEREAS, programs will provide housing rehabilitation assistance for owner-occupied, single family homes of homeowners; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development, Housing Division, in that it is immediately necessary to authorize the expenditure of the aforementioned grant funds to avoid interruptions in program services, thereby preserving the public health, peace, property, safety and welfare; and NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
Section 1. That the Director of the Department of Development is hereby authorized to make loans or grants for the various affordable housing programs administered by the Housing Division under the Affordable Housing Opportunity Program.
Section 2. That for the purpose as stated in Section 1, the expenditure of $331,385.00 or so much thereof as may be necessary, is hereby authorized from the Department of Development, Division 44-10, Fund 248, Object Level One 05, OCA Code 443236 as follows:
Object Level Three / Amount
5525 (Loans) / $231,385.00
5517 (Grants) / $100,000.00
Total: $331,385.00
Section 3. That expenditure of funds from this authorization will be in accordance with U.S. Department of Housing and Urban Development Regulations 24 CFR Part 570.200-206, CDBG Eligibility.
Section 4. That the funds necessary to carry out the purpose of this ordinance are hereby deemed appropriated, and the City Auditor shall establish such accounting codes as necessary.
Section 5. That in the reasons stated in the preamble hereto, which is hereby made a part thereof, this Ordinance is declared to be an emergency measure and shall take effect and be in force from and after its passage and approval by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes the same.