HomeMy WebLinkAbout119 - 11/20/2012 - APPROPRIATING UNANTICIPATED REVENUE IN THE GENERAL FUND TO THE FORT COLLINS HOUSING AUTHORITY TO FUN ORDINANCE NO. 119, 2012
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE IN THE GENERAL FUND
TO THE FORT COLLINS HOUSING AUTHORITY TO FUND
AFFORDABLE HOUSING AND RELATED ACTIVITIES
WHEREAS, the City has received a payment from the Fort Collins Housing Authority
(the "Authority") of $15,457 in satisfaction of its 2010 and 2011 payments in lieu of taxes
("PILOTs"); and
WHEREAS, the Authority has requested that the 2010 and 2011 PILOT payments be
appropriated by the City 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$15,457 was not projected as a revenue source in the 2012
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
i
WHEREAS, Article V, Section 9 of the City Charter 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 FIFTEEN THOUSAND FOUR HUNDRED FIFTY SEVEN DOLLARS
($15,457) to the Fort Collins Housing Authority to fund affordable housing and related activities
for Fort Collins residents consistent with the Federal Department of Housing and Urban
Development guidelines.
Introduced, considered favorably on first reading, and ordered published this 6th day of
November, A.D. 2012, and to be presented for final passage on the 20th day of November, A.D.
2012.
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ATTEST: LO
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City Clerk
Passed and adopted on final reading on the 20th day of November, A.D. 2012.
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