HomeMy WebLinkAbout033 - 03/06/2018 - APPROPRIATING UNANTICIPATED REVENUE IN THE GENERAL FUND FOR A HOUSING CATALYST PILOT REFUND ORDINANCE NO. 033, 2018
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE IN THE GENERAL
FUND FOR A HOUSING CATALYST PILOT REFUND
WHEREAS, the City has received in 2018 a payment from the Fort Collins Housing
Authority(the"Authority")of$10,153 as a payment in lieu of taxes("PILOT")for 2016 for public
services and facilities under a Cooperation Agreement dated December 16, 1971, pertaining to a
public housing program financed by the federal Department of Housing and Urban Development
(HUD); and
WHEREAS, since at least 1992, the City has remitted such PILOT payments to the
Authority; and
WHEREAS, the Authority has requested that the 2016 PILOT payments be appropriated
by the City Council for return to the Authority to fund much-needed affordable housing related
activities and to attend to the housing needs of low-income Fort Collins residents; and
WHEREAS, said payment of$10,153 was not projected as a revenue source in the 2018
City budget; and
WHEREAS,the City may spend the PILOT revenues as it deems appropriate in accordance
with law, including remitting the funds to the Authority if Council determines that such remittal
serves a valid public purpose; and
WHEREAS, it is a City Council priority to support programs for providing additional
affordable housing in the community; 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, as a condition of receiving these funds, the City will require the Authority to
sign a letter agreement obligating the Authority to spend the funds for creating or maintaining
affordable housing in a manner consistent with HUD guidelines; and
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, the Financial Officer has determined that the appropriation of the revenue 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 as follows:
Section 1. That the City Council hereby makes and adopts the determinations and
findings contained in the recitals set forth above.
Section 2. That there is hereby appropriated from unanticipated revenue in the General
Fund the sum of TEN THOUSAND ONE HUNDRED FIFTY-THREE DOLLARS ($10,153) for
expenditure in the General Fund to be remitted to Housing Catalyst as a PILOT Refund to fund
affordable housing and related activities for Fort Collins residents consistent with HUD guidelines
and the terms of this Ordinance.
Introduced, considered favorably on first reading, and ordered published this 20th day of
February, A.D. 2018, and to be presented for final passage on the 6th day of March, A.D. 2018.
Payor
ATTEST:
e
City CI
Passed and adopted on final reading on the 6th day of March, A.D. 2018.
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Mayor
ATTEST:
VORTC
city CIA
SEAL
COLORPOO
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