Explanation
BACKGROUND: This ordinance authorizes the appropriation and expenditure of $467,311.79 remaining from FY 2014 HOME monies within the HOME Investment Partnerships Program for the Department of Development. The funds will assist first time homebuyers, for-profit and non-profit organizations with 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.
Emergency action is requested to allow for continuation of services without interruption.
FISCAL IMPACT: The City of Columbus has $467,311.79 remaining from its 2014 HOME Investment Partnerships award by the United States Department of Housing and Urban Development.
Title
To authorize the Director of Development to enter into agreements to provide funding for various approved housing programs that will assist first time homebuyers and for-profit and non-profit organizations with 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; to authorize the appropriation and expenditure of up to $467,311.79 from the 2014 HOME Fund to the Department of Development; to provide funding for various approved programs; and to declare an emergency. ($467,311.79).
Body
WHEREAS, it is necessary to appropriate and expend funds from the unappropriated balance of the 2014 HOME Fund to the Department of Development; and
WHEREAS, HOME funds will be used to assist 1st time homebuyers, for-profit and non-profit organizations with 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 income families; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development, Housing Division, in that it is immediately necessary to appropr...
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