Explanation
BACKGROUND: This ordinance authorizes the expenditure of up to $1,175,790.88.00 from the Housing Preservation Fund 7782 to increase the local supply of decent, safe, and sanitary housing and decrease the number of vacant properties in our neighborhoods. The funds will assist homeowners, homebuyers, renters, for-profit and non-profit developers with grants for residential projects including both affordable and market rate housing.
This legislation is submitted as an emergency to allow the program activities to continue without interruption.
FISCAL IMPACT: Cash is available in the Housing Preservation Fund 7782 of the 2018 Capital Improvements Budget.
Title
To amend the 2018 Capital Improvement Budget; to authorize the Director of the Department of Development to make financial assistance available as grants to homeowners, homebuyers, renters, for-profit and non-profit organizations to increase the local supply of decent, safe, and sanitary housing and decrease the number of vacant properties in our neighborhoods; to authorize and direct the City Auditor to transfer cash and appropriation between projects within the Housing Preservation Fund; to authorize the expenditure of $1,175,790.88 from the 2018 Housing Preservation Fund; and to declare an emergency. ($1,175,790.88)
Body
WHEREAS, it is necessary to authorize the expenditure of monies from the Housing Preservation Fund to assist homeowners, homebuyers, renters, for-profit and non-profit organizations with grants to increase the local supply of decent, safe, and sanitary housing and decrease the number of vacant properties in our neighborhoods; and
WHEREAS, the Housing Preservation Fund will assist homeowners, homebuyers, renters, for-profit and non-profit developers with grants for residential projects including both affordable and market rate housing; and
WHEREAS, an emergency exists in the usual daily operation of the Department of Development, Housing Division, in that it is immediatel...
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