HomeMy WebLinkAbout1987-054-04/21/1987-HOUSING AUTHORITY PAYMENT RESOLUTION 87- 54
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING A PAYMENT TO THE FORT COLLINS HOUSING AUTHORITY
FROM THE CITY OF FORT COLLINS
WHEREAS, as a part of the City's commitment to low income housing
assistance, the Council of the City of Fort Collins amended by Resolution
86-177 the Cooperation Agreement between the City and the Fort Collins
Housing Authority (the "Authority") ; and
WHEREAS, said amendment to the Cooperation Agreement relieved the
Housing Authority from making Payments in Lieu of Taxes (PILOT) to the City
for the years 1984, 1985 and 1986; and
WHEREAS, the Department of Housing and Urban Development ("HUD") has
directed the Authority to return any unused portion of its budget to the
federal government; and
WHEREAS, the Authority has determined that the Payments In Lieu of
Taxes are appropriate for payment to the City and are thereby not a part of
the "excess funds" that should be returned to HUD; and
WHEREAS, the Authority has made the Forty-Five Thousand Fifty-Seven
Dollars and Sixty-Nine Cents ($45,057.69) PILOT payment to the City to meet
the technical accounting requirement of HUD and has requested that the City
remit these funds to the Authority for Housing Authority services to be
provided to the Fort Collins community; and
WHEREAS, the Council has deemed it in the best interests of the
citizens of the City to continue the commitment of support to the Authority
set forth in the amendment to the Cooperation Agreement.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that the PILOT payment made by the Fort Collins Housing Authority
to the City of Fort Collins in `he amount of Forty-Five Thousand
Fifty-Seven Dollars and Sixty-Nine Cents (b45,057.69) be remitted to the
Authority to finance office operations and maintenance.
Passed and adopted at a regular meeting of the City Council held this
21st day of April , A.D. 1987.
M�. �
ATTEST:
City Clerk