Loading...
HomeMy WebLinkAbout148 - 12/05/1995 - APPROPRIATING FUNDS FROM THE AFFORDABLE HOUSING TRUST FUND FOR AN IMPACT FEE REBATE FOR ROSETREE VIL OIZDINANCENO. 1481 1995 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING FUNDS FROM THE AFFORDABLE HOUSING TRUST FUND FOR AN IMPACT FEE REBATE FOR ROSETREE VILLAGE AFFORDABLE HOUSING PROJECT WHEREAS, pursuant to Ordinance No. 145, 1994 the City of Fort Collins may rebate development impact fees for the purpose of promoting affordable housing; and WHEREAS, the City has received an application for a development impact fee rebate for $106,800 from the Rosetree Village affordable housing project; and WHEREAS, the current balance of available appropriations for development fee impact rebates is $35,740; and WHEREAS, additional funds in the amount of$71,060 are needed to provide the eligible development impact fee rebate for the Rosetree affordable housing project; and WHEREAS, the $71,060 needed to provide the eligible rebate is available in the General Fund Affordable Housing Trust Fund prior year reserves; and WHEREAS, Article V, Section 7, of the Charter of the City of Fort Collins authorizes the City Council to provide by ordinance for payment of any expense from reserves accumulated in prior years notwithstanding that such reserves were not appropriated for expenditure in the annual appropriation ordinance. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS that there is hereby appropriated for expenditure from the General Fund Affordable Housing Trust Fund prior year reserve the sum of SEVENTY-ONE THOUSAND SIXTY DOLLARS ($71,060) for the development impact fee rebate for the Rosetree affordable housing project. Introduced and considered favorably on first reading and ord published t ' st day of November,A.D. 1995, and to be presented for final passage o e St13 day of D92emberA.D. 1995. Mayor ATTEST: �Ni" City Clerk Passed and adopted on final reading this 5th day of D ber D. 1995 ayor ATTEST: City Clerk