HomeMy WebLinkAbout116 - 11/01/2016 - APPROPRIATING UNANTICIPATED REVENUE IN THE GENERAL FUND TO BE REMITTED TO THE FORT COLLINS HOUSING AORDINANCE NO. 116, 2016
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE IN THE GENERAL FUND TO BE
REMITTED 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
the "Authority") of $10,006 as a payment in lieu of taxes ("PILOT") for public services and
facilities under a Cooperation Agreement dated December 16, 1971, pertaining to a HUD
financed public housing program; and
WHEREAS, since at least 1992, the City has remitted such PILOT payments to the
Authority; and
WHEREAS, the Authority has requested that the 2015 PILOT payments be appropriated
by the City Council for return to the Authority to fund much-needed affordable housing related
activities and to attend to the housing needs of low-income Fort Collins residents; and
WHEREAS, said payment of$10,906 was not projected as a revenue source in the 2015
City budget; and
WHEREAS, the City may spend the PILOT revenues as it deems appropriate in
accordance with law, including remitting the funds to the Authority if Council determines that
such remittal serves a valid public purpose; and
WHEREAS, it is a City Council priority to support programs for providing additional
affordable housing in the community; 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, as a condition of receiving these funds, the City will require the Authority to
sign a letter agreement obligating the Authority to spend the funds for creating or maintaining
affordable housing in a manner consistent with the guidelines of the federal Department of
Housing and Urban Development; and
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WHEREAS, Article V, Section 9 of the City Charter 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.
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NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF
FORT COLLINS as follows:
Section 1. That the City Council hereby makes and adopts the determinations and
findings contained in the recitals set forth above.
Section 2. That there is hereby appropriated from unanticipated revenue in the
General Fund the sum of TEN THOUSAND NINE HUNDRED SIX DOLLARS ($10,906) to be
remitted 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, considered favorably on first reading, and ordered published this 18th day of
October, A.D. 2016, and to be presented for final passage on the 1st day of November, A.D.
2016.
e Mayor
ATTEST:
City Clerk
Passed and adopted on final reading on the 1 st day of November, A.D.2016.
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SEAL
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ATTEST: oiiAoo
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City Clerk
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