HomeMy WebLinkAboutOrdinance 16732-12-2005Ordinance No ~-(~ o~-~.~
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE RENTAL REHAB FUND IN THE AMOUNT OF
$1 039 999 48 FROM AVAILABLE FUNDS FOR THE PURPOSE OF FUNDING
ACTIVITIES ELIGIBLE UNDER THE CITY'S HOUSING PROGRAMS 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 for Fiscal Year 2005-
2006 and in the Budget of the City Manager there shall also be increased estimated receipts and
appropriations in the Rental Rehab Fund in the amount of $1 039 999 48 from available funds for
the purpose of funding activities eligible under the City's Housing programs
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 no 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.
SECTION 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 instance said
conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed
SECTION 4
This ordinance shall take effect upon adoption
APPROVED AS TO FORM AND LEGALITY
Assistant City Attorney
ADOPTED AND EFFECTIVE. ~~e 2w~ yU'Q!' ~I~~~
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City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION Approved on 12/20/2005 Ordinance No 16732 12 2005
DATE Tuesday December 20 2005
LOG NAME 05RENTALREHAB REFERENCE NO *G-15036
SUBJECT
Adopt Appropriation Ordinance Increasing Estimated Receipts and Appropriations in the Rental
Rehab Fund
RECOMMENDATION
It is recommended that the City Council
1 Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the
Rental Rehab Fund by $1 039 999 48 from available funds
DISCUSSION
During the early 1980's the U S Department of Housing and Urban Development (HUD) implemented a
program entitled Rental Rehabilitation Block Grant. The purpose of this program was to provide funds to
local governments to facilitate the increase in supply of affordable rental housing for lower income families
The City of Fort Worth used these funds to provide below market rate loans to investor owners of rental
properties to undertake moderate to substantial levels of rehabilitation of their properties The loans were
awarded to owners of single and multifamily rental properties HUD discontinued this program in 1991
In May 2000 the City of Fort Worth was notified of the final closeout of its Rental Rehabilitation Block Grant
Program This action closed out 100 percent of all the allocations received by the City under this
program The letter further stated that any future .program income generated by the program could be used
for any activities eligible under the City's housing programs. The City has used these funds for infill housing
and housing rehabilitation
This M&C appropriates the available funds for use on any activity eligible under the City's housing
programs.
FISCAL INFORMATION/CERTIFICATION
The Finance Director certifies that upon approval of recommendation # 1 funds are available in the current
operating budget, as appropriated of the Rental Rehab Income Fund
TO Fund/AccounUCenters FROM Fund/AccountlCenters
GR92 451685 005206078000 $1,039,999.48
GR92 539120 055206078010 $1,008,269.21
http.//www.cfwnet.orglcouncil~acket/Reportslmc~rint.asp 12/21 /2005
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GR92 539120 00520678040 $31,730.27
Submitted for City Manager's Office by: Dale Fisseler (6140)
Originating Department Head. Jerome Walker (7537)
Additional Information Contact: Jerome Walker (7537)
http.//www cfwnet.orglcouncil~acket/Reports/mc~rmt.asp 12!21/2005