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HomeMy WebLinkAbout044 - 04/17/2001 - APPROPRIATING UNANTICIPATED REVENUE IN THE GENERAL FUND (REFUNDING HOUSING AUTHORITY PILOT) ORDINANCE NO. 44, 2001 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING UNANTICIPATED REVENUE IN THE GENERAL FUND WHEREAS, Article V, Section 9 of the Charter of the City of Fort Collins permits the City Council to appropriate by ordinance unanticipated revenue which is the result of rate or fee increases or new revenue sources at any time during the year in which such revenue is received; and WHEREAS, the City has received a payment from the Fort Collins Housing Authority (the "Authority") of$14,823 as a payment in lieu of taxes for 2000 ('PILOT"); and WHEREAS, the Authority has requested that the 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 $14,823 was not projected as a revenue source in the 2001 budget of the City; 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 FOURTEEN THOUSAND EIGHT HUNDRED TWENTY THREE DOLLARS ($14,823) to be returned to the Authority to fund affordable housing related activities for Fort Collins residents consistent with Federal Department of Housing and Urban Development guidelines. Introduced and considered favorably on first reading and ordered published this 20th day of March, A.D. 2001, and to be presented for final passage on the 17th day of April, A.D. 2001. MSyor ATTEST: - LLWkv)4�4_� City Clerk Passed and adopted on final reading this 17th day of April, A 1 2001. a Mayor r ATTEST: City Clerk