Explanation
Background: This legislation authorizes the appropriation of $30,000.00 from the 2017 program income generated as a part of the HOME Investment Partnership Program to provide support for administration of programs in the Department of Development’s Housing Division for 2018.
HOME program income is generated from housing loan repayments, including positive cash flow loans to developers of affordable rental properties.
This legislation represents appropriation in addition to the HOME budget as outlined in the 2017 Action Plan, per Ordinance 2555-2016; however, the additional appropriation does not require a substantial amendment to the Action Plan and is in compliance with the city’s Citizen Participation Plan.
Emergency action is requested so that funds can be established at the start of the 2018 budget year.
Fiscal Impact: $30,000.00 will be appropriated from the 2017 program income generated as a part of the HOME Investment Partnership Program (Fund 2201, Project G451700) in order to provide funds for administration for Housing Division programs in 2018. The program income generated in 2017 was approximately $1,241,407 with approximately $742,805 unobligated.
Title
To authorize the appropriation of $30,000.00 from the 2017 program income generated as a part of the HOME Investment Partnership Program to provide funding for administration of programs in the Department of Development’s Housing Division for 2018; and to declare an emergency. ($30,000.00)
Body
WHEREAS, the Columbus City Council has approved the 2017 Action Plan (Ordinance 2555-2016), as required by the U.S. Department of Housing and Urban Development; and
WHEREAS, the additional appropriation proposed herein does not require a substantial amendment to the Action Plan and is in compliance with the City’s Citizen Participation Plan; and
WHEREAS, this legislation authorizes the appropriation of $30,000.00 from the 2017 program income generated as a part of the HOME Invest...
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