HomeMy WebLinkAbout088 - 05/15/2001 - APPROPRIATING UNANTICIPATED REVENUE IN THE HOME INVESTMENT PARTNERSHIPS FUND ORDINANCE NO. 88, 2001
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE
IN THE HOME INVESTMENT PARTNERSHIPS FUND
WHEREAS, the HOME Investment Partnership Program (the "HOME Program") was
authorized by the National Affordable Housing Act of 1990 to provide funds 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 has been notified by HUD that the City's HOME Participating
Jurisdiction Grant for the federal fiscal year 2001-2002 is $683,000, constituting a new revenue
source; and
WHEREAS, the City expects to receive HOME Program income in the 2001-2002 federal
fiscal year in the amount of$100,000; and
WHEREAS, Article V, Section 9, of the Charter of the City of Fort Collins (the"Charter")
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,do not exceed the then current estimate of actual and
anticipated revenues to be received during the fiscal year; 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 2001-69, City Council approved the 2001-2002
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 revenue in
the federal fiscal year 2001-2002 into the HOME Program Fund the sum of SIX HUNDRED
EIGHTY-THREE THOUSAND DOLLARS ($683,000), upon receipt thereof from federal fiscal
year 2001-2002 HOME Participating Jurisdiction Grant Funds.
Section 2. That there is hereby appropriated from unanticipated program income revenue for
approved HOME Program projects,upon receipt thereof into the HOME Program Fund,the amount
of ONE HUNDRED THOUSAND DOLLARS ($100,000)for approved HOME Program projects.
Introduced,considered favorably on first reading,and ordered published this 1 st day of May,
A.D. 2001, and to be presented for final passage on the 15th day of May, A.D. 2001.
Mayor
ATTEST:
City Clerk
Passed and adopted on final reading this 15th day of May, A.D. 2001.
.r,
Mayor
ATTEST:
City Clerk