HomeMy WebLinkAbout085 - 06/01/2004 - APPROPRIATING UNANTICIPATED REVENUE IN THE HOME INVESTMENT PARTNERSHIPS FUND ORDINANCE NO. 085, 2004
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE IN
THE HOME INVESTMENT PARTNERSHIPS FUND
WHEREAS, the HOME Investment Partnership Program ("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; 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 2004-2005 is $723,006, constituting a new revenue
source; and
WHEREAS, Article V, Section 9, of the Charter of the City of Fort Collins 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 HOME Program
funds as described herein will not cause the total amount appropriated in the HOME Fund to
exceed the current estimate of actual and anticipated revenues to be received in that fund during
any fiscal year; 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, by adoption of Resolution 2004-063, the City Council approved the 2004-
2005 HOME Program.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF
FORT COLLINS that there is hereby appropriated for expenditure from unanticipated revenue in
the federal fiscal year 2004-2005 into the HOME Program Fund the sum of SEVEN HUNDRED
TWENTY THREE THOUSAND SIX DOLLARS ($723,006), upon receipt thereof from federal
fiscal year 2004-2005 HOME Participating Jurisdiction Grant Funds.
Introduced, considered favorably on first reading, and ordered published this 18th day of
May, A.D. 2004, and to be presented for final passage on the 1st day of June, A.D. 2004.
Mayor
ATTEST:
— kL�b
City Clerk
Passed and adopted on final reading this 1st day of June, A.D. 2004.
Mayor
ATTEST:
City Clerk