Explanation
BACKGROUND: This ordinance authorizes the appropriation of FY 2016 HOME monies within the HOME Investment Partnerships Program for the Department of Development. These funds will allow the Housing Division to provide staffing for Housing Finance programs including CHDO set-aside, Affordable Housing Opportunities, Down-payment Assistance grants and no or low interest loans for projects designed to increase and preserve the local supply of decent, safe, sanitary, and affordable housing for low and moderate income families. This ordinance is in accordance with the 2015-2019 Consolidated Plan and application to the U.S. Department of Housing and Urban Development (HUD).
Emergency action is requested to allow for continuation of services without interruption.
FISCAL IMPACT: The City of Columbus has been awarded $3,190,542 by the United States Department of Housing and Urban Development (HUD) in Fiscal Year 2016 (per the HUD website) to fund various housing assistance activities under the HOME Investment Partnerships Act. This ordinance requests the appropriation of $319,054.00 from the FY 2016 HOME entitlement. A separate ordinance will authorize the appropriation and expenditure of the remaining HOME funds for CHDO set-aside, CHDO operating, Tenant-based Rental Assistance and HOME Affordable Housing Opportunity grants.
Title
To authorize the appropriation of $319,054.00 from the 2016 HOME Fund to the Department of Development to provide funding for program staff; and to declare an emergency. ($319,054.00)
Body
WHEREAS, it is necessary to appropriate funds from the unappropriated balance of the 2016 HOME Fund to the Department of Development; and
WHEREAS, this legislation authorized the appropriation of $319,054.00 from the FY2016 HOME program; and
WHEREAS, these funds will allow the Housing Division to provide staffing for Housing Finance programs including CHDO set-aside, Affordable Housing Opportunities, Down-payment Assistance grants an...
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