HomeMy WebLinkAbout071 - 06/19/2018 - APPROPRIATING UNANTICIPATED REVENUE IN THE HOME INVESTMENT PARTNERSHIPS FUND ORDINANCE NO. 071, 2018
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE INTHE HOME
INVESTMENT PARTNERSHIPS FUND
WHEREAS, the Home Investment Partnership Program (the "HOME Program") was
authorized by the National Affordable Housing Act of 1990 to provide funds in the form of
Participating Jurisdiction Grants for a variety of housing-related activities that would increase the
supply of decent, safe, and affordable housing; and
WHEREAS, on March 1, 1994,the City Council adopted Resolution 1994-092 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 Program funds as long
as Congress reauthorizes and continues to fund the program; and
WHEREAS, the City estimates it will receive in federal fiscal year 2018-2019
unanticipated revenue in the form of HOME Program funds from HUD totaling is $846,700; and
WHEREAS, the City received unanticipated HOME Program income in the amount of
$515,534; 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, do not exceed the then current estimate of actual and anticipated revenues to be
received during the fiscal year; and
WHEREAS, the City, Manager has determined that the appropriation of the HOME
Program funds as described herein will not cause the total amount appropriated in the HOME
Program Fund to exceed the current estimate of actual and anticipated revenues to be received in
that fund during the 2018 fiscal year; and
WHEREAS, Article V, Section 11, of the City Charter provides that federal grant
appropriations shall not lapse if unexpended at the end of the fiscal year until the expiration of the
federal grant; and
WHEREAS,this appropriation benefits the public health,safety and welfare of Fort Collins
residents and serves the public purpose of providing safe, affordable housing for low-income
residents.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
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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 for expenditure from .unanticipated
revenue in the federal fiscal year 2018-2019 in the HOME Program Fund the sum of EIGHT
HUNDRED FORTY-SIX THOUSAND SEVEN HUNDRED DOLLARS ($846,700), upon
receipt from federal fiscal year 2018-2019 HOME Participating Jurisdiction Grant Funds.
Section 3. That there is hereby appropriated for expenditure from unanticipated
program income revenue, upon receipt thereof, in the HOME Program Fund the sum of FIVE
HUNDRED FIFTEEN THOUSAND FIVE HUNDRED THIRTY-FOUR DOLLARS ($515,534),
for approved HOME Program projects.
Introduced, considered favorably on first reading, and ordered published this 5th day of
June, A.D. 2018, and to be presented for final passage on the 19th day of June, A.D. 2018.
Mayor Wo Tern
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Passed and adopted on final reading on the 19th day of June, A.D. 2018.
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