Explanation
BACKGROUND: This legislation authorizes the expenditure of up to $1,000,000 from the Housing Preservation Fund to the Department of Development, Housing Division for targeted distribution through the Linden Home Repair Program. The funds will be used to provide financial assistance to homeowners in the Greater Linden area to eligible homeowners for necessary and prioritized home improvements in a targeted area within the Linden neighborhood.
The Linden Home Repair Program represents City Council's commitment to serving the housing needs of the Greater Linden area. Eligible participants are those homeowners who live within the boundaries described in Attachment A as determined by the Department of Development.
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 make the Linden Home Repair Program available to residents without delay.
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 assistance available through the Linden Home Repair Program administered by the Housing Division; to authorize the expenditure of up to $956,875.00 from the Housing Preservation Fund; to authorize the expenditure of $43,125.00 from the Housing Preservation Fund to reimburse the General Fund or other funds for personnel expenses incurred; and to declare an emergency. ($1,000,000.00)
Body
WHEREAS, this legislation authorizes th...
Click here for full text