HomeMy WebLinkAbout081 - 06/01/2004 - APPROPRIATING UNANTICIPATED REVENUE IN THE GENRAL FUND TO BE RETURNED TO THE FORT COLLINS HOUSING AU ORDINANCE NO. 081, 2004
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE IN THE GENERAL FUND
TO BE RETURNED TO THE FORT COLLINS HOUSING AUTHORITY
TO FUND AFFORDABLE HOUSING RELATED ACTIVITIES
WHEREAS, the City has received a payment from the Fort Collins Housing Authority
("Authority") of$10,682 as their 2004 payment in lieu of taxes ("PILOT"); and
WHEREAS, the Authority has requested that the 2004 PILOT payment be appropriated
by the Council for expenditure by the Authority to fund affordable housing related activities and
to attend to the housing needs of low-income Fort Collins residents; and
WHEREAS, said payment of $10,682 was not projected as a revenue source in the 2004
City budget; 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, 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 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.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF
FORT COLLINS that there is hereby appropriated from unanticipated revenue in the General
Fund the sum of TEN THOUSAND SIX HUNDRED AND EIGHTY-TWO DOLLARS
($10,682) to be returned to the Authority to fund affordable housing related activities for Fort
Collins residents consistent with the Federal Department of Housing and Urban Development
guidelines.
Introduced and 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 Ju , A.D. 2004.
Mayor
A EST:
City Clerk
Passed and adopted on final reading this 1st day of June, A.D. 2004.
Mayor
ATTEST:
City Clerk