HomeMy WebLinkAbout157 - 12/20/2005 - APPROPRIATING UNANTICIPATED REVENUE AND AUTHORIZING THE TRANSFER OF APPROPRIATIONS BETWEEN PROJECTS ORDINANCE NO. 157, 2005
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE
AND AUTHORIZING THE TRANSFER OF APPROPRIATIONS BETWEEN PROJECTS
IN THE HOME INVESTMENT PARTNERSHIPS GRANT FUND
WHEREAS, the HOME Investment Partnership Program ("HOME Program") was
authorized by the National Affordable Housing Act of 1990 to provide funds in the form of
Participating Jurisdiction Grants for a variety of housing-related activities which would increase the
supply of decent, safe, sanitary and affordable housing; and
WHEREAS,on March 1, 1994,the City Council adopted Resolution 94-92 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 Program funds as long as
Congress re-authorizes and continues to fund the program; and
WHEREAS,the City will receive unanticipated Home Investment Partnerships("HOME")
Program income in the 2005-2006 federal fiscal year in the amount of$200,000; and
WHEREAS, unexpended funds are also available from the HOME Program for the federal
2003-2004 fiscal year from grant funds that were previously allocated to a project but have been
returned to the City due to failure to complete the project, in the amount of$46,265; and
WHEREAS, unexpended funds are also available from the HOME Program for the federal
2004-2005 fiscal year in the amount of$182,993; 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, does not exceed the current estimate of actual and anticipated
revenues to be received during the fiscal year; and
WHEREAS, City staff has determined that the appropriation of unanticipated HOME
Program income will not result in total appropriations in excess of the current estimate of actual and
anticipated revenues for fiscal year 2005; and
WHEREAS,Article V, Section 10,of the Charter authorizes the City Council to transfer by
ordinance any unexpended and unencumbered amount or portion thereof from one proj ect to another
project,provided that the purpose for which the funds were initially appropriated no longer exists;
and
WHEREAS,Article V,Section 11,of the Charter provides that federal grant appropriations
shall not lapse if unexpended at the end of the budget year until the expiration of the federal grant;
and
WHEREAS,by adoption of Resolution 2005-123,the City Council approved Programs and
Projects for the 2005-2006 HOME Program.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1. That there is hereby appropriated for expenditure from unanticipated program
income revenue,upon receipt thereof into the Home Investment Partnerships Grant Fund,the amount
of TWO HUNDRED THOUSAND DOLLARS ($200,000) for approved Home Investment
Partnerships projects.
Section 2. That the unexpended and unencumbered amount of FORTY-SIX THOUSAND
TWO HUNDRED SIXTY-FIVE DOLLARS($46,265)is hereby authorized for transfer from 2003-
2004 HOME Program projects to the 2005-2006 HOME Program.
Section 3. That the unexpended and unencumbered amount of ONE HUNDRED EIGHTY-
TWO THOUSAND NINE HUNDRED NINETY-THREE DOLLARS ($182,993) is hereby
authorized for transfer from 2004-2005 HOME Program prof ects to the 2005-2006 HOME Program.
Introduced, considered favorably on first reading, and ordered published this 15th day of
November, A.D. 2005, and to be presented for final pas n the 20th day of ember, A.D.
2005.
May J
ATTEST:
4ULYC� . a 1"-.9.91
City Clerk
Passed and adopted o p n final reading this 20th day of ber,A.D. 2005.
Mayor
ATTEST:
City Clerk