header-left
Share to Facebook Share to Twitter Bookmark and Share
File #: 0044-2019    Version: 1
Type: Ordinance Status: Passed
File created: 12/20/2018 In control: Housing Committee
On agenda: 1/14/2019 Final action: 1/16/2019
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 Development Taxable Bond Fund; to authorize the expenditure of $2,000,000.00 from the 2018 Development Taxable Bond Fund; and to declare an emergency. ($2,000,000.00)
Attachments: 1. ORD0044-2019 2018-12-20 Housing Preservation 7739 DAX
Explanation
BACKGROUND: This ordinance authorizes the expenditure of up to $2,000,000.00 from the Housing Preservation Fund 7739 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 7739 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 Development Taxable Bond Fund; to authorize the expenditure of $2,000,000.00 from the 2018 Development Taxable Bond Fund; and to declare an emergency. ($2,000,000.00)

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 immed...

Click here for full text