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HomeMy WebLinkAbout1996-042-04/02/1996-AFFORDABLE HOUSING HOME INVESTMENT PARTNERSHIP HUD RESOLUTION 96-42 OF THE COUNCIL OF THE CITY OF FORT COLLINS ADOPTING THE HOME INVESTMENT PARTNERSHIP PROGRAM FOR FISCAL YEAR 1995-96 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 Fiscal Year 1995-96 in the sum of Four Hundred Fifty-five Thousand Dollars ($455,000); 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 Fiscal Year 1995-96 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 Fiscal Year 1995-96 is hereby adopted, with the program funds to be expended in accordance with the following budget: Program Budget FY95-96 Homebuyer Assistance 165,700 Multi-family housing projects 128,800 Community Housing Development Projects 115,000 Administration 45.500 Total $ 455,006 Passed and adopted at a regular meeting of the City Counci is 2nd da ril,A.D. 1996. /' J Mayor ATTEST: i..k .� City Clerk I