HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 02/06/2001 - FIRST READING OF ORDINANCE NO. 15, 2001, APPROPRIA AGENDA ITEM SUMMARY ITEM NUMBER: 13
FORT COLLINS CITY COUNCIL DATE: February 6, 2001
STAFF: Ken Waido
SUBJECT:
First Reading of Ordinance No. 15, 2001, Appropriating Prior Year Reserves in the Affordable
Housing Reserve in the General Fund for Impact Fee Rebate Payments for Affordable Housing
Projects.
RECOMMENDATION:
Staff recommends adoption of the Ordinance on First Reading.
FINANCIAL IMPACT:
This appropriation of $345,004 for the affordable housing development impact fee rebates will
reduce the Affordable Housing Reserve balance by $345,004, leaving a balance of $41,988 in
the reserve.
EXECUTIVE SUMMARY:
The City has received requests from Brisben Companies for development impact fee rebates for
$179,580 for Bull Run Apartments and for $86,140 for Country Ranch Apartments affordable
housing projects. In addition, Habitat for Humanity's Albion Way homes ($6,284), and CARE
Housing's Windtrail Apartments ($73,000) projects are reaching completion and applications for
development impact fee rebates are anticipated. The amount of $345,004 is needed to provide
the eligible development impact fee rebate for these projects and is available in the General
Fund's Affordable Housing Fund prior year reserves. Article V, Section 9 of the Charter of the
City of Fort Collins authorizes the City Council to provide by ordinance for payment of any
expense from reserves accumulated in prior years notwithstanding that such reserves were not
appropriated for expenditure in the annual appropriation ordinance.
BACKGROUND:
In 1994, the Council established the Development Impact Fee Rebate Program as an
administrative program permitting a partial rebate of City impact fees for the purpose of
promoting the development of additional affordable housing units. Fees eligible for rebate
included almost all City fees as well as fees from special purpose utility districts and school
districts. The Affordable Housing Board considered proposing a series of changes to the Rebate
DATE: February 6, 2001 2 ITEM NUMBER: 13
Program, but in the context of the "Priority Affordable Housing Needs and Strategies" report the
Rebate Program was replaced with the competitive process. On February 2, 1999, the Council
adopted Ordinance No. 20, 1999, eliminating the Rebate Program except for eleven projects that
had received preliminary planning approval from the City and had financially anticipated
rebates. These four affordable housing projects are among the eleven projects still eligible for
impact fee rebates. Two projects remain that would be eligible for development impact fee
rebates, provided they meet the criteria for affordable units.
ORDINANCE NO. 15, 2001
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES IN THE AFFORDABLE
HOUSING RESERVE IN THE GENERAL FUND
FOR IMPACT FEE REBATE PAYMENTS
FOR AFFORDABLE HOUSING PROJECTS
WHEREAS,pursuant to Ordinance No. 145, 1994,the City may rebate development impact
fees for the purpose of promoting affordable housing; and
WHEREAS, by its adoption of Ordinance No. 20, 1999, the Council eliminated the Rebate
Program except for eleven projects that had received preliminary planning approval from the City
and had financially anticipated rebates; and
WHEREAS,the Bull Run Apartments,Country Ranch Apartments,Windtrail Apartments,
and Albion Way single family affordable housing projects are four of the eleven projects still eligible
for impact fee rebates; and
WHEREAS,the City has received requests from Brisben Companies for development impact
fee rebates for $179,580 for the Bull Run Apartments and for $86,140 for the Country Ranch
Apartments affordable housing projects; and
WHEREAS, applications for development impact fee rebates are also anticipated from the
Habitat for Humanity's Albion Way homes for $6,284, and from CARE Housing's Windtrail
Apartments affordable housing project for$73,000; and
WHEREAS,the total amount of$345,004 needed to provide the eligible rebates is available
in the General Fund Affordable Housing prior year reserve; and
WHEREAS,Article V,Section 9, of the Charter of the City of Fort Collins permits the City
Council to appropriate by ordinance at any time during the fiscal year such funds for expenditure as
may be available from reserves accumulated in prior years,notwithstanding that such reserves were
not previously appropriated.
NOW, THEREFORE,BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that there is hereby appropriated for expenditure from the General Fund Affordable
Housing prior year reserves the sum of THREE HUNDRED FORTY FIVE THOUSAND FOUR
DOLLARS ($345,004) for development impact fee rebates for the Bull Run Apartments, Country
Ranch Apartments, Windtrail Apartments, and Albion Way single family affordable housing
projects.
Introduced, considered favorably on first reading, and ordered published this 6th day of
February, A.D. 2001, and to be presented for final passage on the 20th day of February, A.D. 2001.
Mayor
ATTEST:
City Clerk
Passed and adopted on final reading this 20th day of February, A.D. 2001.
Mayor
ATTEST:
City Clerk