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HomeMy WebLinkAbout105 - 09/15/2015 - APPROPRIATING UNANTICIPATED REVENUE IN THE GENERAL FUND TO BE REMITTED TO THE FORT COLLINS HOUSING A i ORDINANCE NO. 105, 2015 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING UNANTICIPATED REVENUE IN THE GENERAL FUND TO BE REMITTED TO THE FORT COLLINS HOUSING AUTHORITY TO FUND AFFORDABLE HOUSING AND RELATED ACTIVITIES WHEREAS, the City has received a payment from the Fort Collins Housing Authority (the "Authority") of $7,271 as a payment in lieu of-taxes ("PILOT") for public services and facilities under a Cooperation Agreement dated December 16, 1971, pertaining to a HUD financed public housing program; and WHEREAS, since at least 1992, the City has remitted such PILOT payments to the Authority; and WHEREAS, the Authority has requested that the 2014 PILOT payments be appropriated by the City Council for return to the Authority to fund much-needed affordable housing related activities and to attend to the housing needs of low-income Fort Collins residents; and WHEREAS, said payment of$7,271 was not projected as a revenue source in the 2014 City budget; and WHEREAS, the City may spend the PILOT revenues as it deems appropriate in accordance with law, including remitting the funds to the Authority if Council determine's that such remittal serves a valid public purpose; 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, as a condition of receiving these funds, the City will require the Authority to sign a letter agreement obligating the Authority to spend the funds for creating or maintaining affordable housing in a manner consistent with the guidelines of the federal Department of Housing and Urban Development; 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, 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 the Authority PILOT payment 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 - 1 - Fund the sum of SEVEN THOUSAND TWO,HUNDRED SEVENTY ONE DOLLARS ($7,271) to be remitted to the Fort Collins Housing Authority to fund affordable housing and related activities for Fort Collins residents consistent with the Federal Department of Housing and Urban Development guidelines. Introduced, considered favorably on first reading, and ordered published this 1st day of September, A.D. 2015, and to be presented for final passage on the 15th day of September, A.D. 2015. °�Foatr......Co �G �A . -- ": SEAL Mayor ATTEST: COLORP9° City Clerk Passed and adopted on final reading on the 15th day of September, A.D. 2015. 1ORT CO/ •;ON Mayor ATTEST: S�A� .�Q •COLORP� City Clerk - 2 -