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HomeMy WebLinkAbout2003-070-05/20/2003-ADOPTING THE FY 2003-2004 HOME INVESTMENT PARTNERSHIP PROGRAM FOR THE CITY OF FORT COLLINS RESOLUTION 2003-070 OF THE COUNCIL OF THE CITY OF FORT COLLINS ADOPTING THE FY 2003-2004 HOME INVESTMENT PARTNERSHIPS PROGRAM FOR THE CITY OF FORT COLLINS WHEREAS, the purpose of the Home Investment Partnership (HOME) Program is to increase the supply of decent,safe,and affordable housing in the City of Fort Collins for an extended period of time; and WHEREAS, The City's Consolidated Plan identifies the following priorities for housing related needs: (1) stimulating housing production for very low, low and moderate income households, (2) increasing home ownership opportunities for very low, low and moderate income households, and (3) increasing the supply of public housing for families and those with special needs; and WHEREAS,the CDBG Commission met in a special meeting for the purpose of preparing a recommendation to the City Council as to which programs and projects should be funded with unprogrammed funds and program income; and WHEREAS, specific projects for the use of new HOME funds will be determined in November as a result of the fall funding cycle of the competitive process for the allocation of the City's financial resources to affordable housing programs/projects and community development activities. NOW,THEREFORE,BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT COLLINS that the administration is authorized to submit the FY 2003-2004 Home Investment Partnerships Program application as follows: ADMINISTRATION Administration $ 78,400 Projects $ 639,134 CHDO Reserve $ 108,651 HOME OWNERSHIP Home Buyer's Assistance $ 300,000 REHABILITATION Fort Collins Housing Corp $ 64,077 Passed and adopted at a regular meeting of the Council of the City of Fort Collins held this 20th day of May A.D. 2003. Mayor _ ATTEST: City Clerk14111w