HomeMy WebLinkAbout090 - 08/16/2011 - APPROPRIATING PRIOR YEAR RESERVES IN THE GENERAL FUND FOR THE AFFORDABLE HOUSING AND LAND BANK PROGR ORDINANCE NO. 090, 2011
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES IN THE GENERAL FUND FOR THE
AFFORDABLE HOUSING AND LAND BANK PROGRAMS
WHEREAS, the City Council allocated Affordable Housing funds to various agencies
during the fall cycle of the competitive process in November 2010; and
WHEREAS, Affordable Housing appropriations that were not expended at the end of
2010 lapsed into the General Fund reserves and City staff recommends that the City Council
appropriate those funds to fulfill the City's commitment to provide for the Affordable Housing
program projects; and
WHEREAS, unexpended appropriations for Land Bank property repairs and maintenance
also lapsed at the end of 2010 into General Fund reserves and need to be appropriated into 2011
so the repairs can be completed as needed; and
WHEREAS, Article V, Section 11 of the City Charter requires that all appropriations
unexpended or unencumbered at the end of the fiscal year lapse to the applicable general or
special fund, except that appropriations for capital projects and federal or state grants do not
lapse until the completion of the capital project or until the expiration of the federal or state
grant; and
WHEREAS, Article V, Section 9, of the City Charter permits the City Council to
appropriate by ordinance at any time during the fiscal year such funds for expenditure as may be
available from reserves accumulated in prior years, notwithstanding that such reserves were not
previously appropriated.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF
FORT COLLINS that there is hereby appropriated for expenditure from prior year reserves in
the General Fund the sum of TWO HUNDRED NINETY-FIVE ,.THOUSAND EIGHT
HUNDRED TWENTY-ONE DOLLARS ($295,821) for the following purposes:
Affordable Housing Program $ 284,382
Land Bank Program 11,439
Introduced, considered favorably on first reading, and ordered published this 19th day of
July, A.D. 2011, and to be presented for final passage on the 16th day of August, A.D. 2011.
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Passed and adopted on final reading on the 16th day of August, A.D. 2011.
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