HomeMy WebLinkAbout1997-077-06/03/1997-1997-98 HOME INVESTMENT PARTNERSHIP PROGRAM RESOLUTION 97-77
OF THE COUNCIL OF THE CITY OF FORT COLLINS
ADOPTING THE HOME INVESTMENT PARTNERSHIP PROGRAM
FOR PROGRAM YEAR 1997-98
WHEREAS, the HOME Investment Partnership Program (the "Program") was authorized
through 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,
including, acquisition, rehabilitation, new construction, tenant-based assistance, home-buyer
assistance, planning and support services; and
WHEREAS, the City Council, pursuant to Resolution 94-42 authorized the execution of a
Notification of Intent for the City to become a"participating jurisdiction" in the HOME Investment
Partnership Program; and
WHEREAS, subsequent to the passage of said Resolution, the Department of Housing and
Urban Development(HUD)awarded the City participation in the Program and a HOME Investment
Partnership Program grant; and
WHEREAS, a Program grant has been made available to the City from HUD for Federal
Fiscal Year 1997 in the sum of Five Hundred Thirty-three Thousand Dollars ($533,000); and
WHEREAS, the Council has determined that it is in the best interest of the citizens of the
City that the HUD portion of the HOME Investment Partnership Program for Program Year 1997-98
be adopted.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS, that the HUD portion of the HOME Investment Partnership Program for the City for
Program Fiscal Year 1997-98 is hereby adopted, with the program funds to be expended in
accordance with the following budget:
Program Budget FY 97-98
Homebuyer Assistance 319,800
Multi-family housing projects 79,950
Community Housing Development Projects 79,950
Administration 53.300
Total $533,000
Passed and adopted at a regular meeting of the City Counaffheld t�is 3rd,dff�"of Ju7,,A.D.
1997.
--'__'Mayor
ATTEST:
City Clerk