HomeMy WebLinkAbout085 - 06/18/1996 - APPROPRIATING UNANTICIPATED REVENUE FOR THE 1996-1997 HOME PROGRAM ORDINANCE NO. 85, 1996
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE
FOR THE 1996-1997 HOME PROGRAM
WHEREAS, the HOME Program was authorized by Congress in the National Affordable
Housing Act, to provide funds for a variety of housing related activities including acquisition,
rehabilitation, new construction, tenant based assistance, home buyer assistance, planning, and
support services; and
WHEREAS, on March 1, 1994, the City Council passed Resolution 94-42 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 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 Program grant for the
federal fiscal year 1996-97 is $539,000; and
WHEREAS, Article V, Section 14,of the Charter of the City of Fort Collins permits the City
Council to appropriate by ordinance unanticipated revenue which is the result of rate or fee increases
or new revenue sources at any time during the year in which such revenue is received.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that there is hereby appropriated from unanticipated grant revenue from the Department
of Housing and Urban Development in the HOME Program Fund the sum of FIVE HUNDRED
THIRTY NINE THOUSAND DOLLARS ($539,000), upon receipt, for the 1996-1997 HOME
Investment Partnership Program.
Introduced,considered favorably on first reading, and ordered published this 4th day of June,
A.D. 1996, and to be presented for final passage on the 18th day of June, A.D. 1996.
Mayor
ATTEST:
City Clerk
Passed and adopted on final reading on the 18th day o D. 1996.
r
or
ATTEST:
Ail
City Clerk