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Home My WebLink AboutCOUNCIL - AGENDA ITEM - 05/17/2005 - SECOND READING OF ORDINANCE NO. 049, 2005, APPROPR ITEM NUMBER: 7 AGENDA ITEM SUMMARY DATE: May 17, 2005 FORT COLLINS CITY COUNCIL STAFF: Wendy Williams SUBJECT Second Reading of Ordinance No. 049,2005,Appropriating Unanticipated Revenue in the General Fund to the Fort Collins Housing Authority to Fund Affordable Housing and Related Activities. RECOMMENDATION Staff recommends adoption of the Ordinance on Second Reading. EXECUTIVE SUMMARY The Fort Collins Housing Authority ("Authority") paid the City of Fort Collins $12,033 as a 2004 payment for public services and facilities. The Authority annually requests that the City refund the Payment in Lieu of Taxes (PILOT)to fund sorely needed affordable housing related activities and to attend to the low-income housing needs of Fort Collins residents. Resolution 1992-093 reinstated the requirement that the Authority make annual PILOT payments to the City. The City may spend the PILOT revenues as it deems appropriate in accordance with law, including remitting the funds to the Authority if the Council determines that such remittal serves a valid public purpose. The Council has remitted the PILOT payment to the Authority annually since 1992. Ordinance No. 049,2005,was unanimously adopted on First Reading on May 3, 2005. ORDINANCE NO. 049, 2005 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING UNANTICIPATED REVENUE IN THE GENERAL FUND TO THE FORT COLLINS HOUSING AUTHORITY TO FUND AFFORDABLE HOUSING AND RELATED ACTIVITIES WHEREAS, the City has received a payment from the Fort Collins Housing Authority ("Authority") of$12,033 as its 2004 payment in lieu of taxes ("PILOT"); and WHEREAS, the Authority has requested that the 2004 PILOT payment be appropriated by the Council for expenditure by the Authority to fund affordable housing related activities and to attend to the housing needs of low-income Fort Collins residents; and WHEREAS, said payment of$12,033 was not projected as a revenue source in the 2005 City budget; and WHEREAS, the City Council has determined that the provision of affordable housing serves an important public purpose and is an appropriate use of these funds; and WHEREAS, Article V, Section 9 of the Charter of the City of Fort Collins permits the City Council to make supplemental appropriations by ordinance at any time during the fiscal year, provided that the total amount of such supplemental appropriations, in combination with all previous appropriations for that fiscal year, does not exceed the current estimate of actual and anticipated revenues to be received during the fiscal year; and WHEREAS, City staff has determined that the appropriation of the Authority PILOT payment as described herein will not cause the total amount appropriated in the General Fund to exceed the current estimate of actual and anticipated revenues to be received in that fund during any fiscal year. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS that there is hereby appropriated from unanticipated revenue in the General Fund the sum of TWELVE THOUSAND AND THIRTY-THREE DOLLARS ($12,033) to the Fort Collins Housing Authority to fund affordable housing and related activities for Fort Collins residents consistent with the Federal Department of Housing and Urban Development guidelines. Introduced and considered favorably on first reading and ordered published this 3rd day of May, A.D. 2005, and to be presented for final passage on th of May, A.D. 2005. i Mayo TEST: City Clerk Passed and adopted on final reading this 17th day of May, A.D. 2005. Mayor ATTEST: City Clerk ITEM NUMBER: 16 AGENDA ITEM SUMMARY DATE: May3, 2005 FORT COLLINS CITY COUNCIL STAFF: Wendy Williams 1�W,o.x,...... 7' c SUBJECT V,.. First Reading of Ordinance No. 049, 2005, Appropriating Unanticipated Revenue in the General Fund to the Fort Collins Housing Authority to Fund Affordable Housing and Related Activities. RECOMMENDATION Staff recommends adoption of the Ordinance on First Reading. FINANCIAL IMPACT The City received unanticipated revenue from the Fort Collins Housing Authority in the amount of .xxq $12,033 as a 2004 payment for ,� c n ces f ills.l avenue was placed in the General Fund. This Ordinance will rrn the (is t�� sing'fµuthority to be used for affordable housing and related activities. 1ie,� ya , EXECUTIVE SUMMARY The Fort Collins Housing Authority("Authority")paid the City of Fort Collins $12,033 as a 2004 payment for public services and facilities. The Authority annually requests that the City refund the Payment in Lieu of Taxes(PILOT) to fund sorely needed affordable housing related activities and to attend to the low-income housing needs of Fort Collins residents. Resolution 1992-093 reinstated the requirement that the Authority make annual PILOT payments to the City. The City may spend the PILOT revenues as it deems appropriate in accordance with law, including remitting the funds to the Authority if the Council determines that such remittal serves a valid P ublic purpose. The Council has remit ?d the PILOT,payment to the Authority annually since 1992 00 BACKGROUND On December 16, 1971, the City and the Authority entered into a Cooperative Agreement which provided that the Authority must make annual PILOT payments to the City for the public services and facilities furnished by the City. In 1986,upon request of the Authority,the City Council adopted a Resolution which relieved the Authority of its obligation to make the PILOT payments. Based on that Resolution, the Authority did not make PILOT payments from 1987 through 1990. The May 3, 2005 -2- Item No. 16 Authority also received a refund from the City of PILOT payments for the years 1984, 1985 and 1986. In 1992, the City Council ap eN a in CooDerative Agreement to reinstate the requirement that the AuthorityKthe ual P en e change was done to clarify that PILOT payments are oweCity to a id a possib, ty that the Department of Housing and Urban Development k-HUD�mni'ght r �uit�e th Authority return the PILOT payments to the federal government. Since that time, the City has refunded the annual PILOT payments to the Housing Authority. Staff recommends that the 2004 PILOT payment of $12,033 be appropriated as unanticipated revenue in the General Fund and remitted to the Authority with the recommendation that the Authority use the funds in the manner consistent with HUD guidelines. The intended use for the funds is affordable housing and related activities. r