Explanation
BACKGROUND: This legislation authorizes up to $500,000 from the Housing Preservation Fund to the Department of Development, Housing Division for targeted distribution through the Better Municipal Care for Veterans Home Fund. The funds will be used to provide financial assistance to a homeowner who is an eligible veteran or a homeowner with an eligible veteran whose permanent address is the same as the homeowner’s but is not a rental tenant of the homeowner for necessary and prioritized home improvements.
The Better Municipal Care for Veterans Home Fund represents City Council's continued commitment to serving the housing needs of our nation's heroes. Eligible participants are those homeowners who reside within the City of Columbus and are either an eligible veteran or a homeowner with an eligible veteran whose permanent address is the same as the homeowner’s but is not a rental tenant of the homeowner. Eligible veterans are those individuals who have presented a government record denoting his or her other than dishonorable discharge or release from active military, naval, or air service.
The staffing costs associated with this housing program are initially expensed to the General Fund or other funds, however, project related activities are able to be expensed using capital funds. Time spent on capital-related projects are tracked and expensed accordingly to the appropriate capital fund. The process is consistent with the City of Columbus procedure to reimburse the General Fund or other funds for the portion of the staff time attributable to capital projects.
Emergency action is necessary to allow the Housing Division to continue making the Better Municipal Care for Veterans Home Fund available to veterans without interruption.
FISCAL IMPACT: This expenditure is budgeted within the Housing Preservation Fund and is contingent on the 2014 bond sale.
Title
To authorize the Director of the Department of Development to make financial assistanc...
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