Explanation
BACKGROUND: This ordinance authorizes the return of $77,307.40 to the U.S. Department of Housing and Urban Development (HUD) from which the original HOME dollars were drawn. The return represents funds previously drawn for a Homeownership Development Project that did not proceed and complies with the terms of their agreement by repaying the funds. Upon return, the funds will be made available to the City of Columbus for use for another project eligible under the HOME set aside for Community Housing Development Organizations.
Emergency action is requested in order to return the funds immediately pursuant to HUD procedure.
FISCAL IMPACT: Funds are from the HOME Investment Partnerships Program. Repaid funds currently on hand will be returned to HUD and will be added to the funds available to the City for future use.
Title
To authorize an appropriation of $77,307.40 within the HOME Fund to the Department of Development; to authorize the Director of the Department of Development to return funds to the U.S. Department of Housing and Urban Development from which the original HOME dollars were drawn; to authorize the expenditure of $77,307.40 in HOME Funds; and to declare an emergency. ($77,307.40)
Body
WHEREAS, the Department of Development desires to return funds to the U. S. Department of Housing and Urban Development (HUD), pursuant to HUD procedure, which were originally drawn from the City's HOME account with HUD and from which the original HOME dollars were drawn; and
WHEREAS, upon return of the funds to HUD, the funds will be made available to the City of Columbus in its HOME account for use in future projects eligible for the Community Housing Development Organization set aside; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development, Housing Division, in that it is immediately necessary to appropriate and expend said funds in order to return the funds immediately pursuant to HUD procedure, 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 from the unappropriated monies in the fund known as the HOME Fund, Fund 201, Grant 458001 and from all monies estimated to come into said fund from any and all sources during the 12 months ending December 31, 2014, the sum of $77,307.40 is hereby appropriated to the Department of Development, Division 44-10, Object Level One 05, Object Level Three 5515, OCA 044030.
SECTION 2. That the monies appropriated in the foregoing Section 1 shall be paid upon the order of the Director of the Department of Development and that no order shall be drawn or money paid except by voucher, the form of which shall be approved by the City Auditor.
SECTION 3. That the Director of the Department of Development is hereby authorized and directed to return funds to the U.S. Department of Housing and Urban Development from which the original HOME dollars were drawn in the amount of $77,307.40.
SECTION 4. That for the purpose as stated in Section 3, the expenditure of $77,307.40 or so much thereof as necessary, be and is hereby authorized to be expended from the Department of Development, Department 44-10, Fund 201, Grant 458001, Object Level One 05, Object Level Three 5515, OCA 044030.
SECTION 5. That for the reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is hereby 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.