HomeMy WebLinkAbout050 - 04/21/1998 - APPROPRIATING UNANTICIPATED PILOT REVENUE FROM THE FORT COLLINS HOUSING AUTHORITY IN THE GENERAL FUN ORDINANCE NO. 50, 1998
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED PILOT REVENUE FROM
THE FORT COLLINS HOUSING AUTHORITY IN THE GENERAL FUND
WHEREAS,the City has received a payment from the Fort Collins Housing Authority (the
"Authority") of$18,065 as a payment in lieu of 1996 taxes ("PILOT"); and
WHEREAS,the Authority has requested that the 1996 PILOT payment be appropriated by
the Council for expenditure by the Authority to fund affordable housing related activities and to
attend to the housing needs of low-income Fort Collins residents; and
WHEREAS, said payment of$18,065 was not projected as a revenue source or appropriated
for expenditure in the 1998 budget of the City; and
WHEREAS,Article V, Section 9,of the Charter of the City of Fort Collins 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, City staff has determined that the appropriation of the unanticipated revenue
from the Fort Collins Housing Authority referenced herein will not cause total appropriations to
exceed the current estimate of actual and anticipated revenues for fiscal year 1998; 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.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that there is hereby appropriated from unanticipated revenue in the General Fund the sum
of EIGHTEEN THOUSAND SIXTY FIVE DOLLARS AND ($18,065) to be returned to the Fort
Collins Housing Authority to fund affordable housing related activities for Fort Collins residents
consistent with the Federal Department of Housing and 1lrban Development guidelines.
Introduced and considered favorably on first reading and ordered published this 7th day of
April, A.D. 1998, and to be presented for final passage on the 21 st 'ril, A.D.
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ATTEST:
City Clerk
Passed and adopted on final reading this 21 st day of A ' , A 19c
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ATTEST:
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City Clerk �Y- �