HomeMy WebLinkAbout088 - 06/17/1997 - APPROPRIATING UNANTICIPATED REVENUE FOR THE 1997-1998 HOME PROGRAM ORDINANCE NO. 88, 1997
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE
FOR THE 1997-1998 HOME PROGRAM
WHEREAS, the HOME Program was authorized by the National Affordable Housing Act
of 1990 to provide funds for a variety of housing-related activities which would increase the
supply of decent, safe, sanitary and affordable housing, primarily rental housing; and
WHEREAS, on March 1, 1994, the City Council adopted Resolution 94-42 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 funds as long as
Congress re-authorizes and continues to fund the program; and
WHEREAS, the City has been notified by HUD that the City's HOME Program grant for
the federal fiscal year 1997-1998 is $533,000; 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 have determined that the appropriation of the unanticipated revenue
from the Department of Housing and Urban Development (HUD) referenced herein will not cause
total appropriations to exceed the current estimate of actual and anticipated revenues for fiscal year
1997.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that, upon receipt, there is hereby appropriated for expenditure from unanticipated
grant revenue from the Department of Housing and Urban Development in the HOME Program
Fund the sum of FIVE HUNDRED THIRTY-THREE THOUSAND DOLLARS ($533,000) for
the 1997-1998 HOME Investment Partnership Program.
Introduced,considered favorably on first reading,and ordered pubY§ho4 this 3rd day of June,
A.D. 1997, and to be presented for final passage on the 17th day of e . 19
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ATTEST:
UL
City Clerk
Passed and adopted on final reading this 17th day of June, A.D. 1997.
Mayor ,;;
ATTEST:
City Clerk