HomeMy WebLinkAbout129 - 10/15/1996 - APPROPRIATING UNANTICIPATED REVENUE FOR THE LARIMER COUNTY HOMEBUYER ASSISTANCE PROGRAM ORDINANCE NO. 129, 1996
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE
IN THE HOME PROGRAM FUND
FOR THE LARIMER COUNTY HOMEBUYER
ASSISTANCE PROGRAM
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; and
WHEREAS, in June 1996 the City of Fort Collins and Larimer County submitted a joint
application to the Colorado Division of Housing requesting funds to assist households displaced
through the closure of mobile home parks; and
WHEREAS, the Colorado Division of Housing has allocated $85,000 to the City of Fort
Collins for initiation of a Larimer County Homebuyer Assistance Program; and
WHEREAS, the City received these funds directly to allow residents from Pioneer Mobile
Home Park the opportunity to access this program as quickly as possible; and
WHEREAS,the City will only be involved in the administration of this program for the first
cycle of funding and will receive $5,000 from the $85,000 for administrative costs; and
WHEREAS, the $80,000 designated for homebuyer assistance will assist a minimum of 16
household to pursue home ownership in the County; and
WHEREAS,the Loveland Housing Authority has agreed to assume permanent administration
of this program for future funding cycles.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that there is hereby appropriated from unanticipated grant revenue in the HOME Program
Fund the sum of EIGHTY FIVE THOUSAND DOLLARS ($85,000),for expenditure in the HOME
Program Fund for the 1996 Larimer County Homebuyer Assistance Program.
Introduced, considered favorably on first reading, and ordered published this 1st day of
October, A.D. 1996, and to be presented for final passage on the y of October, 996.
or
ATTEST:
City Clerk
Passed and adopted on final reading this 15th day of qtb—er, A.D. 1996.
L I4ayor
ATTE
ity ler