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HomeMy WebLinkAboutOrdinance 16833-02-2006Ordinance No. 16833-02-2006 AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE GRANTS FUND IN THE AMOUNT OF $1,037,833.50 FROM AVAILABLE FUNDS FOR THE PURPOSE OF FUNDING HOUSING DEPARTMENT ADMINISTRATIVE STAFF EXPENSES; MAKING THIS ORDINANCE CUMULATIVE OF PRIOR ORDINANCES IN CONFLICT HEREWITH; AND PROVIDING AN EFFECTIVE DATE. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS: SECTION 1 That in addition to those amounts allocated to the various City departments far Fiscal Year 2005- 2005 and in the Budget of the Gity Manager, there shall also be increased estimated receipts and appropriations in the Grants Fund in the amount of $1,037,833.50 from available funds far the purpose of funding Housing Department Administrative staff expenses. SECTION 2. That should any portion, section or part of a section of this ordinance be declared invalid, inoperative or void for any reason by a court of competent jurisdiction, such decision, opinion or judgment shall in na way impair the remaining portions, sections, or parts of sections of this ordinance, which said remaining provisions shall be and remain in full force and effect. SI=CTION 3. That this ordinance shall be cumulative of Ordinance No. 16582 and all other ordinances and appropriations amending the same except in those instances where the provisions of this ordinance are in direct conflict with such other ordinances and appropriations, in which insfance said conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed. SECTION 4. This ordinance shad taKe effect upon adoption. APPROVED AS TO FORM AND LEGALITY: Assistant City Attorney ADOPTED AND EFFECTIVE: February 28, 2006 Cif cif F®~ VI/®~h, T'e.~a~ Mayor and Council Communication COUNCIL ACTION: Approved on 2/28/2006 -Ordinance No. 16833-02-2006 CRATE: Tuesday, February 2$, 2006 LOG NAME: 05HOME Pi REFERENCE NO.: G-15097 SUBJECT: Authorize Allocation of Home Program Income to Fund Housing Department Administrative Expenses and Eligible Program Expenditures and Adoption of Related Appropriation Ordinance RECOMMEN©ATION: It is recommended that the City Council: 1. Authorize the disbursement of all HOME Pragram Income funds from years 2000 to 2005 for HOME eligible expenses prior to requesting funds from the U. S. Treasury; 2. Approve the use of ten percent in NOME eligible Program Income to fund Housing Department Administrative staff expenses; and 3. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Grants Fund by up to $~ ,037,833.50. ®ISCUSSION: The HOME Investment Partnerships Pragram is intended to be a partnership between federal, state and local government and non-profit and for profit agencies who build, own, manage, finance and support low income housing initiatives. The City received its first allocation of HOME funds in 1992. The NOME grant funds the Model Block Program, Homebuyer's Assistance Program, Home Improvement Program, limited operating support for non-profits and the Affordable Housing Development Fund program. Recipients of Federal awards are required to maintain financial systems that provide for the accurate, current and complete disclosure of its Federal funds and HOME program income must be placed in a local HOME Trust Fund account. The program income comes from loan repayments primarily from the Home improvement Pragram and the Affordable Housing Development Fund. Ten percent of HOME program income may be used for administrative expenses and ninety percent is to be used far eligible program expenditures. Pragram income must be substantially disbursed prior to requesting additional funds from the U. S. Treasury. FISCAL INFORMATIONICERTIFICATION: The Finance Director certifies that upon approval of the recommendation and adoption of the attached appropriation ordinance, funds will be available in the current operating budget, as appropriated, of the Grants fund. TO FundlAccauntlCenters FROM FundlAcco~ntlCenters GR76 539120 005206930010 952 775.59 GR76 4XXXXX 005206072000 ~O.DO Logname: O5HOME PI Page 1 a~ 2 Lag~arne: ~5H4ME PI Page 2 0£2