HomeMy WebLinkAbout015 - 02/20/2001 - APPROPRIATING PRIOR YEAR RESERVES IN THE AFFORDABLE HOUSING RESERVE IN THE GENERAL FUND FOR IMPACT F 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.
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Mayor _...
ATTEST:
WkL16
City Clerk
Passed and adopted on final reading this 20th day of February, A.D. 2001.
Mayor
ATTEST:
City Clerk