Explanation
BACKGROUND: This legislation authorizes the transfer within the Housing Preservation Fund and the expenditure of $702,941.98 to preserve the local supply of decent, safe, sanitary and affordable housing for low-income families. The Housing Preservation Fund represents the City's commitment to the preservation of housing units affordable to low and moderate income individuals. Funds will be used to provide eligible homeowners with assistance for home repairs through the Roof Repair and Home Safe and Sound programs in order to preserve the housing stock and enable homeowners to remain in their homes.
$702,941.98 is available for this purpose in the 2014 Capital Improvements Budget, Housing Preservation Fund.
Emergency action is requested to avoid interruptions in the delivery of vital program services.
FISCAL IMPACT: $702,941.98 will be expended from the Housing Preservation Fund-2014 Capital Improvements Budget.
Title
To amend the 2014 Capital Improvements Budget; to authorize and direct the transfer of $357,011.54 within the Build America Bond Fund; to authorize and direct the transfer of $345,930.44 within the Housing Preservation Fund; to authorize the Director of the Department of Development to make financial assistance available through the Roof Repair and Home Safe and Sound programs administered by the Housing Division; to authorize the expenditure of $357,011.54 from the Build America Bond Fund; to authorize the expenditure of $345,930.44 from the Housing Preservation Fund; and to declare an emergency. ($702,941.98)
Body
WHEREAS, it is necessary to expend funds from the Housing Preservation Fund and the Build America Bond Fund to preserve the local supply of decent, safe, sanitary and affordable housing for low and moderate income families; and
WHEREAS, funds will be used to provide eligible homeowners with assistance for home repairs through the Roof Repair and Home Safe and Sound programs in order to preserve the housing stock and enable homeowners to remain in their homes; and
WHEREAS, emergency action is necessary to avoid interruptions in the delivery of vital program services; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development, Housing Division, in that it is immediately necessary to transfer and expend the aforementioned funds, 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 2014 Capital Improvements Budget authorized by Ordinance 0683-2014 be and is hereby amended to provide sufficient budget authority for the appropriate projects authorized within this ordinance as follows:
Fund / Project / Project Name / C.I.B. / Change / C.I.B. as Amended
746/ 782001-100001/ Rebuilding Lives/ $357,012/ (357,012)/ $0
746/782001-100000/Housing Preservation/$0/$357,012/$357,012
782/ 782001-100001/ Rebuilding Lives/ $345,931/ ($345,931)/ $0
782/ 782002-100000/ Home Safe & Sound/ $60,196/ $142,989/$203,185
782/ 782001-100002/ Roof Program/ $3,900/ $202,942/ $206,842
SECTION 2. That the City Auditor be and is hereby authorized and directed to transfer $357,011.54 within the Build America Bond Fund as follows:
Transfer from:
Fund / Project / Project Name / O.L. 01-03 Codes / OCA / Amount
746/ 782001-100001/ Rebuilding Lives/ 06-6617/ 746822/ $357,011.54
Transfer to:
Fund / Project / Project Name / O.L. 01-03 Codes / OCA / Amount
746/ 782001-100000/ Housing Preservation/ 06-6617/ 746821/ $357,011.54
SECTION 3. That the City Auditor be and is hereby authorized and directed to transfer $345,930.44 within the Housing Preservation Fund as follows:
Transfer from:
Fund / Project / Project Name / O.L. 01-03 Codes / OCA / Amount
782/ 782001-100001/ Rebuilding Lives/ 06-6617/ 782101 / $345,930.44
Transfer to:
Fund / Project / Project Name / O.L. 01-03 Codes / OCA / Amount
782/ 782002-100000/ Home Safe & Sound/ 06-6617/ 782002/ $142,988.46
782/ 782001-100002/ Roof Program/ 06-6617/ 784402/ $202,941.98
SECTION 4. That the Director of the Department of Development is hereby authorized to make financial assistance available through the Roof Repair and Home Safe and Sound programs administered by the Housing Division and awarded as grants to homeowners for home repairs.
SECTION 5. That for the purpose stated in Section 4, the expenditure of $345,930.44 or so much thereof as may be necessary, is hereby authorized to be expended from the Housing Preservation Fund as follows:
Fund / Project / Project Name / O.L. 01-03 Codes / OCA / Amount
782/ 782002-100000/ Home Safe & Sound/ 06-6617/ 782002 / $142,988.46
782/ 782001-100002/ Roof Program/ 06-6617/ 784402/ $202,941.98
SECTION 6. That for the purpose stated in Section 4, the expenditure of $357,011.54 or so much thereof as may be necessary, is hereby authorized to be expended from the Build America Bond Fund as follows:
Fund / Project / Project Name / O.L. 01-03 Codes / OCA / Amount
746/ 782001-100000/ Housing Preservation 06-6617/ 746821 / $357,011.54
SECTION 7. Those expenditures of capital improvements budget 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, to ensure consistency of housing programs and income eligibility for all programs as administered by the Housing Division.
SECTION 8. 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 9. That the City Auditor is authorized to make any accounting changes to revise the funding source for all contracts or contract modifications associated with this ordinance.
SECTION 10. That the City Auditor is hereby authorized to transfer the unencumbered balance in a project account to the unallocated balance account within the same fund upon receipt of certification by the Director of the Department administrating said project that the project has been completed and the monies are no longer required for said project.
SECTION 11. 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.