Explanation
BACKGROUND
The purpose of this ordinance is to appropriate $100,000.00 within the Public Safety Initiative subfund to the Department of Public Safety, so that the department can provide funding for forgivable home loans for the Safety Forces Residential Incentive Program (SFRIP).
The SFRIP is a pilot program that will offer up to $10,000 in the form of a secondary home loan to police officers and firefighters who have successfully completed their probationary periods and are purchasing a home within the City of Columbus corporate boundaries. The officer or firefighter must then live in that home for five years for the loan to be completely forgivable. The program will be administered by CME Federal Credit Union and the loan dollars will be disbursed by City payroll.
Over the past several years, the City has been engaged in efforts to further diversify the safety forces in Columbus and ensure that those ranks reflect the communities in which they serve. This pilot program will serve as an incentive for those charged with the safety of City residents to live in some of the same neighborhoods that they work.
EMERGENCY DESIGNATION: Emergency action is requested to ensure that the Department of Public Safety has the ability to provide the benefit as soon as practicable to protect the health, safety, and welfare of the residents of Columbus.
FISCAL IMPACT: Total appropriation is $100,000.00 and is available in the 2019 budget within the Public Safety Initiative subfund, Fund 1000-100016.
Title
To appropriate $100,000.00 within the Public Safety Initiative subfund to the Department of Public Safety to provide forgivable home loans for the Safety Forces Residential Incentive Program; and to declare an emergency. ($100,000.00)
Body
WHEREAS, the City has been engaged in efforts to further diversify the safety forces in Columbus and ensure that those ranks reflect the communities in which they serve; and,
WHEREAS, promoting City...
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