Explanation
BACKGROUND: The Affordable Housing Trust for Columbus and Franklin County (Housing Trust) combines public and private funding through a variety of sources to support the development of housing within the City. Both rental units and homeownership projects are developed.
In 2015 the City will commit its annual contribution of the hotel/motel tax receipts to the Housing Trust at an estimated $1,544,000 or whatever greater or lesser sum of money may be received through the portion of the Hotel/Motel Excise Tax fund allocated to the Housing Trust. The amount is based on 0.43% in relation to the 5.1 % total city rate.
This legislation authorizes a contract with the Housing Trust and directs the appropriation and expenditure of funds.
This legislation is presented as an emergency because of the need to continue program services without interruption.
FISCAL IMPACT: This legislation authorizes and directs the appropriation and expenditure of 0.43% of the combined rates of 5.1% of the Hotel/Motel Excise Tax fund, presently estimated at $1,544,000, and authorizes an agreement with the Housing Trust.
Title
To authorize the Director of the Development Department to enter into a contract with the Affordable Housing Trust for Columbus and Franklin County to facilitate the production of affordable housing and enhance home ownership opportunities in Columbus; to authorize the appropriation and expenditure of 0.43% (presently estimated at $1,544,000.00) of the combined rates of 5.1% of the Hotel/Motel Excise Tax; and to declare an emergency. ($1,544,000.00)
Body
WHEREAS, Mayor Coleman commissioned a Columbus Housing Task Force in May 2000 to design the City's first housing trust fund and to recommend a structure whereby the Affordable Housing Trust for Columbus and Franklin County could facilitate the production of housing in Columbus; and
WHEREAS, the goal of the Housing Trust Fund is that 50% of the City's leveraged funding would go to benefit citizens who are at or below 60% of the median income; and
WHEREAS, Section 371.02(c) of the Columbus City Codes, 1959, specifies that up to 0.43 percent of the combined rates of 5.1 percent of the revenues of the Hotel/Motel Excise Tax are to be used to support the production of affordable housing and create home ownership opportunities within the city of Columbus through the Columbus Housing Trust; and
WHEREAS, the City has determined to adjust the annual distribution of hotel/motel tax receipts to allow for on-going contributions in the amount of 0.43% of the combined rates of 5.1% of the Hotel/Motel Excise Tax fund (presently estimated at $1,544,000) to Affordable Housing Trust for Columbus and Franklin County for this effort; 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 appropriation and expenditure of said funds to the Affordable Housing Trust for Columbus and Franklin County to continue delivery of program services without interruption, in order to preserve the public peace, health, safety, and welfare; and NOW, THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the Director of the Development Department is hereby authorized to enter into a contract with the Affordable Housing Trust for Columbus and Franklin County to support the production of housing in the City of Columbus.
SECTION 2. For the purpose of paying the costs thereof, the sum of 0.43% of the combined rates of 5.1% of the Hotel/Motel Excise Tax (presently estimated at $1,544,000) is hereby deemed appropriated and authorized to be expended from the Department of Development, Department 44-01, the Hotel/Motel Excise Tax Fund 236, Object Level One 03, Object Level Three 3336, OCA Code 236002.
SECTION 3. Said contract shall provide for payment by the City for such services in accordance with Chapter 371.02(c) of Columbus City Code.
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 hereof, 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.