Explanation
BACKGROUND: This ordinance authorizes the appropriation and expenditure of $1,543,000 of the anticipated FY 2019 HOME Investment Partnerships Program (HOME) funding from the U.S. Department of Housing and Urban Development (HUD) for the Department of Development’s Housing Division.
This legislation represents appropriation for the HOME portion of the 2019 Action Plan, per Ordinance 2776-2018.
This legislation also authorizes the Director of Development to use these funds to enter into contracts to 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: Funds in the amount of $1,543,000.00 for this appropriation are supported by the anticipated HOME entitlement award from the U.S. Department of Housing and Urban Development (HUD) and are allocated from the 2019 HOME Investment Partnership Grant.
Title
To authorize the appropriation and expenditure of $1,543,000.00 remaining from FY 2019 HOME monies within the HOME Investment Partnerships Program for the Department of Development; 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 provide funding for various approved programs; and to declare an emergency. ($1,543,000.00).
Body
WHEREAS, the City of Columbus expects to continue as a participating jurisdiction of the U.S. Department of Housing and Urban Development for 2019; and
WHEREAS, the...
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