HomeMy WebLinkAbout097 - 09/05/2000 - APPROPRIATING FUNDS FROM THE AFFORDABLE HOUSING FUND FOR AN IMPACT FEE REBATE PAYMENT FOR THE BULL R ORDINANCE NO. 97, 2000
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING FUNDS FROM THE AFFORDABLE
HOUSING FUND FOR AN IMPACT FEE REBATE PAYMENT
FOR THE BULL RUN APARTMENTS AFFORDABLE HOUSING PROJECT
WHEREAS,pursuant to Ordinance No. 145, 1994,the City may rebate development impact
fees for the purpose of promoting affordable housing; and
WHEREAS, by its adoption of Ordinance No. 20, 1999, the Council eliminated the Rebate
Program except for eleven projects that had received preliminary planning approval from the City
and had financially anticipated rebates; and
WHEREAS, the Bull Run Apartments affordable housing project is one of the eleven
projects still eligible for impact fee rebates; and
WHEREAS, the City has received an application for a development impact fee rebate for
$207,450 from the Brisben Company for its Bull Run Apartments affordable housing project; and
WHEREAS, the $207,450 needed to provide the eligible rebate is available in the General
Fund Affordable Housing Fund prior year reserves; and
WHEREAS, Article V,Section 9,of the Charter of the City of Fort Collins permits the City
Council to appropriate by ordinance at any time during the fiscal year such funds for expenditure as
may be available from reserves accumulated in prior years,notwithstanding that such reserves were
not previously appropriated.
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 Fund prior year reserve the sum of TWO HUNDRED SEVEN THOUSAND FOUR
HUNDRED FIFTY DOLLARS ($207,450) for the development impact fee rebate for the Bull Run
Apartments affordable housing project.
Introduced and considered favorably on first reading and ordered publ' hed this 15th day of
August, A.D. 2000, and to be presented for final passage on the 5th da September, A 2000.
ayor
ATTEST:
- '��WLA ft z-0 a �
City Clerk
Passed and adopted on final reading this 5th day of September,A. 2000.
Mayor
ATTEST:
City Clerk