HomeMy WebLinkAbout148 - 12/05/1995 - APPROPRIATING FUNDS FROM THE AFFORDABLE HOUSING TRUST FUND FOR AN IMPACT FEE REBATE FOR ROSETREE VIL OIZDINANCENO. 1481 1995
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING FUNDS FROM THE AFFORDABLE
HOUSING TRUST FUND FOR AN IMPACT FEE REBATE
FOR ROSETREE VILLAGE AFFORDABLE HOUSING PROJECT
WHEREAS, pursuant to Ordinance No. 145, 1994 the City of Fort Collins may rebate
development impact fees for the purpose of promoting affordable housing; and
WHEREAS, the City has received an application for a development impact fee rebate for
$106,800 from the Rosetree Village affordable housing project; and
WHEREAS, the current balance of available appropriations for development fee impact
rebates is $35,740; and
WHEREAS, additional funds in the amount of$71,060 are needed to provide the eligible
development impact fee rebate for the Rosetree affordable housing project; and
WHEREAS, the $71,060 needed to provide the eligible rebate is available in the General
Fund Affordable Housing Trust Fund prior year reserves; and
WHEREAS, Article V, Section 7, 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.
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 Trust Fund prior year reserve the sum of SEVENTY-ONE THOUSAND SIXTY
DOLLARS ($71,060) for the development impact fee rebate for the Rosetree affordable housing
project.
Introduced and considered favorably on first reading and ord published t ' st day of
November,A.D. 1995, and to be presented for final passage o e St13 day of D92emberA.D. 1995.
Mayor
ATTEST:
�Ni"
City Clerk
Passed and adopted on final reading this 5th day of D ber D. 1995
ayor
ATTEST:
City Clerk