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HomeMy WebLinkAboutOrdinance 16574-09-2005Ordinance No ~(p.$~J'~~y-~QS AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE GRANTS FUND IN THE AMOUNT OF $231 631 FROM AVAILABLE FUNDS FOR THE PURPOSE OF FUNDING THE HOME INVESTMENT PARTNERSHIP PROGRAM FOR THE 2005-2006 PROGRAM YEAR; 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 2004- 2005 and in the Budget of the City Manager there shall also be increased estimated receipts and appropriations in the Grants Fund in the amount of $231 631 from available funds for the purpose of funding the HOME Investment Partnership Program for the 2005-2006 program year 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 16061 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in which instance said conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed SECTION 4 This ordinance shall take effect upon adoption APPR VED AS TO FORM AND LEGALITY 7s S Assistant City Attorney ADOPTED AND EFFECTIVE. S p/Jf p~r,u~ ~3, a~ City of Fort Worth, Texas Mayor and Council Communication COUNCIL ACTION Approved on 9/13/2005 Ordinance No 16574-09-2005 DATE Tuesday September 13 2005 LOG NAME 03HOMEAMEND REFERENCE NO *G 14912 SUBJECT Adoption of Amended Appropriation Ordinance for the HOME Investment Partnership Program for the 2005-2006 Program Year RECOMMENDATION It is recommended that the City Council 1 Adopt the attached appropriation ordinance increasing the estimated receipts and appropriations in the Grants Fund by $231 631 00' and 2. Apply indirect cost rates as applicable for the Grants Fund in accordance with the City's Administrative Regulation DISCUSSION On March 24 2005 (M8~C G-14723) the City Council approved the execution of the 2005-2010 Consolidated Plan Grant Application for submission to the U S Department of Housing and Urban Development (HUD) The combined HOME and American Dream Downpayment Initiative (ADDI) allocation at that time was $3 109 923 00 During the HUD review of the City's Consolidated Plan the City was notified that its formula allocation had been revised to include an additional $231 631 00 for a net allocation of $3 341 554 00 in HOME and ADDI funds. The HOME and ADDI allocation combined will fund the following activities during the 2005- 2006 program year 1) Administration $321 396 80 2) CHDO Administration $160 698 40 3) CHDO Operating Funds $482,095.20 4) Model Blocks Program $600 000 00 5) Homebuyer's Assistance Program $1 000 000 00 6) Affordable Housing Development Program $777,363.60 Total HOME Allocation $3,341,554.00 FISCAL INFORMATION/CERTIFICATION The Finance Director certifies that upon approval of the above recommendations and adoption of the attached appropriation ordinance funds will be available in the current operating budget, as appropriated of the Grants Fund Logname• 03HOMEAMEND Page 1 of 2 TO Fund/AccountlCenters FROM Fund/Account/Centers GR76 451727 005206006000 $231,631.00 GR76 5XXX)CX XXX206006XXX $231,631.00 Submitted for City Manager's Office b~ Richard Zavala (6222) Ori ig Hating Department Head. Bridgette Garrett (8518) Additional Information Contact: Deidra Emerson (7563) Logname 03HOMEAMEND Page 2 of 2