HomeMy WebLinkAbout033 - 03/16/1999 - APPROPRIATING UNANTICIPATED PILOT REVENUE FROM THE FORT COLLINS HOUSING AUTHORITY IN THE GENERAL FUN ORDINANCE NO. 33, 1999
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED PILOT REVENUE FROM
THE FORT COLLINS HOUSING AUTHORITY IN THE GENERAL FUND
WHEREAS,Article V, Section 14 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$18,476 and $16,463 as payments in lieu of taxes for 1997 and 1998,respectively
("PILOT"); and
WHEREAS, the Authority has requested that the 1997 and 1998 PILOT payments be
appropriated by the Council for expenditure by the Authority to fund Y2K compliance needs; and
WHEREAS, said payments of$18,476 and $16,463 was not projected as a revenue source
in the 1998 - 1999 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
ofthe total amount of THIRTY-FOUR THOUSAND NINE HUNDRED THIRTY-NINE DOLLARS
($34,939), 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"red published the d day of
March, A.D. 1999, and to be presented for final passage on the 16tllday of March, A. . 1999.
�or
ATTEST:
City Clerk
Passed and adopted on final reading this 16th day of March, A.D. 1999.
Mavor L
ATTEST:
City Clerk