HomeMy WebLinkAbout108 - 06/16/1998 - APPROPRIATING UNANTICIPATED REVENUE AND AUTHORIZING THE TRANSFER OF APPROPRIATIONS BETWEEN PROGRAM Y ORDINANCE NO. 108, 1998
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE AND
AUTHORIZING THE TRANSFER OF APPROPRIATIONS BETWEEN PROGRAM YEARS
IN THE HOME INVESTMENT PARTNERSHIPS FUND
WHEREAS, the HOME Investment Partnership Program (the "HOME Program") was
authorized by the National Affordable Housing Act of 1990 to provide funds for a variety of
housing-related activities which would increase the supply of decent, safe, sanitary and affordable
housing, primarily rental housing; and
WHEREAS,on March 1, 1994,the City Council adopted Resolution 94-92 authorizing the
Mayor to submit to the Department of Housing and Urban Development("HUD") a notification of
intent to participate in the HOME Program; and
WHEREAS, on May 26, 1994, HUD designated the City as a Participating Jurisdiction in
the HOME Program, allowing the City to receive an allocation of HOME Program funds as long as
Congress re-authorizes and continues to fund the program; and
WHEREAS, the City has been notified by HUD that the City's HOME Participating
Jurisdiction Grant for the federal fiscal year 1998-1999 is $569,000, constituting a new revenue
source; and
WHEREAS,the City expects to receive HOME Program income in the 1998-1999 federal
fiscal year in the amount of$50,000; and
WHEREAS, unexpended funds are also available from the HOME Program for the federal
1997-1998 fiscal year in the amount of$59,900; and
WHEREAS, Article V, Section 9, of the Charter of the City of Fort Collins (the"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,do not exceed the then current estimate of actual and
anticipated revenues to be received during the fiscal year; and
WHEREAS,Article V, Section 10,of the Charter authorizes the City Council to transfer by
ordinance any unexpended and unencumbered amount or portion thereof from one fund or capital
project to another fund or capital project,provided that the purpose for which the funds were initially
appropriated no longer exists; and
WHEREAS,Article V, Section 11,of the Charter provides that federal grant appropriations
shall not lapse if unexpended at the end of the budget year until the expiration of the federal grant;
and
WHEREAS, City staff has determined that the appropriation of the unanticipated HOME
Participating Jurisdiction Grant revenue from HUD and unanticipated Program Income in the amount
of$50,000, will not result in total appropriations in excess of the current estimate of actual and
anticipated revenues for fiscal year 1998; and
WHEREAS, Resolution 98-92, approved by the City Council on June 2, 1998, adopted the
1998-1999 HOME Program.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1. That there is hereby appropriated for expenditure from unanticipated revenue in
the federal fiscal year 1998-1999 in the HOME Program Fund the sum of FIVE HUNDRED SIXTY-
NINE THOUSAND DOLLARS($569,000),upon receipt from federal fiscal year 1998-1999 HOME
Participating Jurisdiction Grant Funds.
Section 2. That there is hereby appropriated from unanticipated program income revenue for
approved HOME Program projects,upon receipt in the HOME Program Fund the amount of FIFTY
THOUSAND DOLLARS ($50,000) for approved HOME Program projects.
Section 3. That the unexpended and unencumbered amount of FIFTY-NINE THOUSAND
NINE HUNDRED DOLLARS ($59,900)is hereby authorized for transfer from 1997-1998 HOME
Program projects to the 1998-1999 HOME Program.
Introduced,considered favorably on first reading,and ordered published this 2nd d f June,
A.D. 1998, and to be presented for final passage on the 16th day gf'J'u e A.D. 199 .
Mayor
ATTEST:
. AaUL
City Clerk
Passed and adopted on final reading this 16th day of June, A.D. 1998.
Mayor P;,' T411
ATTEST:
City Clerk ,