HomeMy WebLinkAbout110 - 09/02/2003 - APPROPRIATING UNANTICIPATED REVENUE IN THE GENERAL FUND TO BE RETURNED TO THE FORT COLLINS HOUSING A ORDINANCE NO. 110, 2003
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE IN THE GENERAL FUND
TO BE RETURNED TO THE FORT COLLINS HOUSING AUTHORITY
TO FUND AFFORDABLE HOUSING RELATED ACTIVITIES
WHEREAS, the City has received a payment from the Fort Collins Housing Authority
(the "Authority") of$11,113 as a payment in lieu of taxes for 2003 ("PILOT"); and
WHEREAS, the Authority has requested that the 2003 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$11,113 was not projected as a revenue source in the 2003
City budget; 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; and
WHEREAS, Article V, Section 14 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, does 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 Housing Authority
PILOT as described herein will not cause the total amount appropriated in the General Fund to
exceed the current estimate of actual and anticipated revenues to be received in that fund during
any fiscal year.
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 ELEVEN THOUSAND ONE HUNDRED AND THIRTEEN DOLLARS
($11,113) to be returned to the Authority to fund affordable housing related activities for Fort
Collins residents consistent with the Federal Department of Housing and Urban Development
guidelines.
Introduced and considered favorably on first reading and ordered published this 19th day
of August, A.D. 2003, and to be presented for final passage on tbo,,2nd day of September, A.D.
2003.
Mayor
A ST:
City Clerk
Passed and adopted on final reading the 2nd day of September, A.D. 2003.
or
Mayor
ATTEST:
City Clerk