HomeMy WebLinkAbout077 - 06/15/2021 - APPROPRIATING UNANTICIPATED REVENUE IN THE HOME INVESTMENT PARTNERSHIPS PROGRAMC C
ORDINANCE NO.077,2021
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE IN THE HOME
INVESTMENT PARTNERSHIPS PROGRAM
WHEREAS,the Home Investment Partnerships Program (the “I-IOME 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 (“1-IUD”)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 re-authorizes and continues to fund the program;and
WI-IEREAS,the City estimates it will receive in federal fiscal year 2021-2022
unanticipated revenue in the form of l-Iome Investment Partnership Program (“HOME”)funds
from Housing and Urban Development (I-IUD)totaling is $725,218;and
WHEREAS,the City received unanticipated HOME Program income in the amount of
232,642;and
WHEREAS,Article V,Section 9 of the City Charter permits the City Council,upon
recommendation of the City Manager,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 and all other funds to be received during the 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 budget year until the expiration of
the federal grant;and
WHEREAS,this appropriation benefits the public health,safety and the welfare of the
residents of Fort Collins and serves the public purpose of providing affordable housing for City
residents;and
WHEREAS,the City Manager has recommended the appropriation described herein and
determined that this appropriation is available and previously unappropriated from the Home
Investment Partnerships Grant Fund and will not cause the total amount appropriated in the Home
Investment Partnerships Grant Fund to exceed the current estimate of actual and anticipated
revenues and all other funds to be received in that fund during any fiscal year.
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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 for expenditure from unanticipated grant
revenue in the federal fiscal year 2021-2022 in the HOME Investment Partnerships Grant Fund
the sum of SEVEN HUNDRED TWENTY-FIVE THOUSAND TWO HUNDRED EIGHTEEN
DOLLARS ($725,218),upon receipt from federal fiscal year 2021-2022 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 Investment Partnerships Grant Fund
the sum of TWO HUNDRED THIRTY-TWO THOUSAND SIX HUNDRED FORTY-TWO
DOLLARS ($232,642),for approved HOME Program projects.
Introduced,considered favorably on first reading,and ordered published this 1st day of
June,AD.2021,and to be presented for final passage on the 15th day of June,A.D.2021.
ATTEST:
City Clet(
Passed and adopted on final reading on the
ATTEST:
2-
A.D.2021.
City Clerk
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