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 appropriate and expend said funds to allow for continuation of services without interruption, 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 and from all monies estimated to come into Fund 2201 from any and all sources and unappropriated during the fiscal year ended December, 31, 2019, the sum of $467,311.79 is appropriated in Fund 2201 (HOME Investment Partnerships Program), Dept-Div 44-10 (Housing), Project G458001, in object class 03 (Contractual Services) per the accounting codes in the attachment to this ordinance.
SECTION 2. That the Director of Development is hereby authorized to enter into agreements with various entities 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.
SECTION 3. That for the purpose as stated in Section 2, the expenditure of $467,311.79 or so much thereof as may be necessary, is hereby authorized in Fund 2201 (HOME Investment Partnerships Program), Dept-Div 44-10 (Housing), Project G458001, in object class 03 (Contractual Services) per the account codes in the attachment to this ordinance.
SECTION 4. Funds are hereby deemed appropriated and expenditures and transfers authorized to carry out the purposes of this ordinance and the City Auditor shall establish such accounting codes as necessary.
SECTION 5. That the City Auditor is authorized to make any accounting changes to revise the funding source for all contracts or contract modifications associated with this ordinance.
SECTION 6. 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 approval by the Mayor, or ten days after passage if the Mayor neither approves nor vetoes the same.