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Home My WebLink AboutOrdinance 21930-09-2015 ORDINANCE NO. 21930-09-2015 AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE RENTAL REHABILITATION PROGRAM FUND IN THE AMOUNT OF $14,417.30, FROM AVAILABLE FUNDS, FOR THE PURPOSE OF RECORDING INTEREST EARNED; PROVIDING FOR A SEVERABILITY CLAUSE; MAKING THIS ORDINANCE CUMULATIVE OF PRIOR ORDINANCES; REPEALING ALL 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 2014-2015 in the Budget of the City Manager, there shall also be increased estimated receipts and appropriations in the Rental Rehabilitation Program Fund in the amount of $14,417.30, from available funds, for the purpose of recording interest earned. 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. 21457-09-2014 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in which instance said conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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: Vicki Ganske, Sr. Assistant City Attorney Mary J. Ka �,Oi6S retary ADOPTED AND EFFECTIVE: September 29, 2015 Ordinance No.21930-09-2015 Page 1 of 1 City of Fort Worth, Texas Mayor and Council Communication COUNCIL ACTION: Approved on 9/29/2015 - Ordinance No. 21927-09-2015, 21928-09-2015, 21929-09-2015, & 21930-09-2015 DATE: Tuesday, September 29, 2015 REFERENCE NO.: G-18576 LOG NAME: 17NS APP ROPRIATIONC LEAN UP SUBJECT: Adopt Ordinances Increasing Fiscal Year 2015 Receipts and Appropriations in the Grants Fund, the CD Revolving Loan Fund, the Rental Rehabilitation Program, and the Special Trust Fund to Record Program Revenue Received (ALL COUNCIL DISTRICTS) RECOMMENDATION: It is recommended that the City Council: 1. Adopt the attached ordinance increasing Fiscal Year 2015 receipts and appropriations in the Grants Fund in the amount of$1,254,388.84 from available funds to record program revenue received; 2. Adopt the attached ordinance increasing Fiscal Year 2015 receipts and appropriations in the CD Revolving Loan Fund in the amount of$660,211.44 from available funds to record program revenue received; 3. Adopt the attached ordinance increasing Fiscal Year 2015 receipts and appropriations in the Rental Rehabilitation Program Fund in the amount of$14,417.30 from available funds to record program revenue received; and 4. Adopt the attached ordinance increasing Fiscal Year 2015 receipts and appropriations in the Special Trust Fund in the amount of$23,200.00 from available funds to record program revenue received. DISCUSSION: The Neighborhood Services Department is requesting that appropriations be increased in various funds to properly record revenue received from projects funded by federal grant funds from the United States Department of Housing and Urban Development (HUD). Examples of program revenue include interest and loan payments. Appropriations are needed to account for all revenue received in the identified funds as discussed below: On March 9, 2010, the City Council authorized funds to be transferred from Unreserved, Undesignated General Fund Balance to the Grants fund in order to resolve audit findings from HUD (M&C G- 16867). These funds earned interest in the amount of$5,222.50 that was not appropriated. During the early 1980s, HUD created the Rental Rehabilitation Program Grant to provide funds to local governments to increase the supply of affordable rental housing for low income families. The City used these grant funds to provide below market rate loans to owners of rental properties to rehabilitate them. HUD discontinued this program in 1991. All loans payments have been collected and the Rental Rehabilitation Program Fund has earned interest in the amount of$14,417.30 that was not appropriated. Logname: 17NS APPROPRIATIONCLEANUP Page 1 of 3 Since the early 1990s, the City has used its Community Development Block Grant (CDBG) and Home Investment Partnerships Program (HOME) grant funds from HUD to make loans to low to moderate income families and developers of affordable multi-family projects. The loans have been for both acquisition and new construction or rehabilitation of existing properties. The HOME loan portfolio has earned revenue in the amount of$310,254.49, and the CDBG loan portfolio has earned revenue of $660,211.44, neither of which have been appropriated. On May 1, 1979, the City Council authorized an application for Urban Development Action Grant (UDAG) funds from HUD for the acquisition of land and construction costs for a public plaza and a two-level subsurface parking garage (M&C G-4150). Since then, program income has been received from the rental revenues received from the lease of the City-owned parking garage under General Worth Square (City Secretary Contract No. 11085 as amended and assigned). Currently, program income in the amount $892,953.77 has been received, but has not been appropriated. The Housing Summit has been sponsored by the City, HUD, the Fort Worth Housing Authority and other agencies and companies for the last 12 years. Donations in the amount $23,200.00 have been received, but have not been appropriated. On December 11, 2011, the City Council authorized a change in use in the Economic Development Initiative (EDI) Grant funds for the construction of a new community facility at the corner of Evans Avenue and East Humbolt Street (M&C C-25368). These funds have earned interest in the amount of$45,958.08 that has not been appropriated. FISCAL INFORMATION /CERTIFICATION: The Financial Management Services Director certifies that upon approval of the above recommendation and adoption of the attached appropriation ordinances, funds will be available in the current operating budget, as appropriated, of the Grants Fund, CD Revolving Loan Fund, Rental Rehabilitation Program, and Special Trust Fund. FUND CENTERS: TO Fund/Account/Centers FROM Fund/Account/Centers GR76 539120 017206360050 $5,222.50 GR76 441012 017206360000 $5,222.50 GR92 539120 005206078010 $14,417.30 GR92 441012 013206078000 $14,417.30 GR76 538040 005206072010 $310,254.49 GR76 441012 005206072000 $261,434.70 GR76 441050 005206072000 $48,819.79 GR91 531200 005206066010 $1,805.09 GR91 538040 005206066010 $559,624.66 GR91 538070 005206066010 $98,781.69 GR91 431474 005206066000 $2,638.29 GR91 441032 005206066000 $471,885.76 GR91 444072 005206066000 $6,338.14 GR91 444160 005206066000 $12,552.90 GR91 444170 005206066000 $49,804.83 Logname: 17NS APPROPRIATIONCLEANUP Page 2 of 3 GR91 444190 005206066000 $9,178.47 GR91 451685 005206066000 $43,562.74 GR91 441012 013206066000 $64,250.31 GR76 539120 017206948990 $892,953.77 GR76 442216 005206948000 $672,633.61 GR76 451685 005206948000 $220,070.16 GR76 488993 017206948000 $250.00 FE72 522030 005542000000 $3,948.07 FE72 533030 005542000000 $539.32 FE72 533040 005542000000 $673.03 FE72 533100 005542000000 $105.20 FE72 539010 005542000000 $200.00 FE72 539120 005542000000 $17,734.38 FE72 472076 005542000000 $1,000.00 FE72 488100 005542000000 $22,200.00 GR76 441012 013206855000 $45,958.08 GR76 539120 020206855800 $45,958.08 CERTIFICATIONS: Submitted for City Manager's Office by: Fernando Costa (6122) Originating Department Head: Allison Gray (8187) Rhonda Hinz (2573) Additional Information Contact: Allison Gray (8187) Logname: 17NS APPROPRIATIONCLEANUP Page 3 of 3