HomeMy WebLinkAbout075 - 07/21/2009 - APPROPRIATING UNANTICIPATED REVENUE IN THE HOME INVESTMENT PARTNERSHIPS FUND ORDINANCE NO. 075, 2009
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 in the form of
Participating Jurisdiction Grants for a variety of housing-related activities that would increase the
supply of decent, safe, and affordable housing; and
WHEREAS,on March 1, 1994,the City Council adopted Resolution 1994-092 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 2009-2010 is $686,973, which grant constitutes a new
revenue source; and
WHEREAS, Article V, Section 9, of the City 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, City staff has determined that the appropriation of the HOME Program funds
as described herein will not cause the total amount appropriated in the HOME Fund to exceed the
current estimate of actual and anticipated revenues to be received in that fund during the 2009 fiscal
year; and
WHEREAS, Article V, Section 11, of the City 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.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS hat there is hereby appropriated for expenditure from unanticipated revenue in the federal
fiscal year 2009-2010 into the HOME Program Fund the sum of SIX HUNDRED EIGHTY SIX
THOUSAND NINE HUNDRED SEVENTY-THREE DOLLARS ($686,973), upon receipt from
federal fiscal year 2009-2010 HOME Participating Jurisdiction Grant Funds.
Introduced,considered favorably on first reading,and ordered published this 7th day of July,
A.D. 2009, and to be presented for final passage on the 21 st day ly, A.D. 2009.
. O
Mayo
-ATTEST: ,
Depdty C' Jerk
Passed and adopted on final reading on the 21 st day of July A.D. 2009.
i
Mayo
ATTEST:
c
City Clerk