HomeMy WebLinkAboutOrdinance 14391ORDINANCE NO ~~/
AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE FORT WORTH HOUSING FINANCE
CORPORATION FUND IN THE AMOUNT OF $333,000 FROM AVAILABLE
FUNDS FOR THE PURPOSE OF FUNDING AN AMENDMENT OF
CONTRACT WITH THE FORT WORTH HOUSING FINANCE CORPORATION
FOR HOUSING DEVELOPMENT ACTIVITIES, PROVIDING FOR A
SEVERABILITY CLAUSE, MAKING THIS ORDINANCE CUMULATIVE OF
PRIOR ORDINANCES AND REPEALING ALL 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 the Fiscal Year 2000/01 and in the
Budget of the City Manager, there shall also be increased estimated receipts and appropriations in the
Fort Worth Housing Finance Corporation Fund in the amount of $333,000 from available funds for the purpose of
funding an amendment of contract with the Fort Worth Housing Finance Corporation for Housing Development
Activities
SECTION 2.
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 14286 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and appropriations are hereby expressly repealed.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 and be in full force and effect from and after the date of its passage, and it is so
ordained.
APPROVED TO FORM AND LEGALITY
A sistant C' Attorney
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Adopted
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Effective
City of Fort Worth, Texas
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DATE REFERENCE NUMBER LOG NAME PAGE
10/24/00 C-18316 05AMEND 1 of 2
SUBJECT AMENDMENT OF CONTRACT WITH THE FORT WORTH HOUSING FINANCE
CORPORATION FOR HOUSING DEVELOPMENT ACTIVITIES
RECOMMENDATION
It is recommended that the City Council
1 Authorize the City Manager to amend City Secretary Contract (No 24931) with the Fort Worth
Housing Finance Corporation (FWHFC) to reflect the addition of $333,000 in Rental Rehabilitation
Program Income funds for a contract total of $1,193,756, and
2 Approve the use of up to $333,000 in Rental Rehabilitation Program Income funds, and
3 Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the
Rental Rehabilitation Program Fund by $333,000 from available funds, and
4 Approve the transfer of $333,000 from the Rental Rehabilitation Program Fund to the FWHFC Fund,
and
5 Adopt the attached appropriation ordinance increasing estimated receipts and appropriations by
$333,000 in the FWHFC Fund
DISCUSSION
On April 20, 1999 (M&C C-17387), the City Council approved an appropriation ordinance and contract
with the FWHFC for housing development activities The amount of the contract totaled $860,756 in
federal funds from the U S Department of Housing and Urban Development (HUD) The program sources
included the following
• Community Development Block Grant (CDBG) Program
• Rental Rehabilitation Program Income
• HOME Investment Partnership Program
The uses for the federal funds included
• Lot acquisition in the United Riverside Model Blocks, and
• New home construction in the Poly Model Blocks, and
• New home construction in Stop Six; and
• Site preparation and pre-development activities
$ 30,000
$527,156
303 600
TOTAL $860,756
The Rental Rehabilitation Program Income identified above was available for the infill program because
HUD, earlier in 1999, authorized the use of these funds for development and construction purposes
There is currently $333,000 available in Rental Rehabilitation Program Income funds
City of Fort Worth, Texas
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DATE REFERENCE NUMBER LOG NAME PAGE
10/24/00 C-18316 05AMEND 2 of 2
SUBJECT AMENDMENT OF CONTRACT WITH THE FORT WORTH HOUSING FINANCE
CORPORATION FOR HOUSING DEVELOPMENT ACTIVITIES
Staff is recommending that these funds be allocated to the FWHFC for infill program development. This
will increase the contract amount to $1,193,756 The additional funds will be initially used for
development in the near southeast and northside neighborhoods Once the funds are recouped, they
will revolve for use in future development
The Safety and Community Development Committee approved this recommendation at its meeting on
October 10, 2000
FISCAL INFORMATION/CERTIFICATION
The Finance Director certifies that upon approval of the above recommendations, funds will be
available in the current operating budgets, as appropriated, of the Grants Fund and the Fort Worth
Housing Finance Corporation Fund
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Submitted for City Manager's FUND ACCOUNT CENTER AMOUNT CITY SECRETARY
Office by: (to)
3) GR92 441112 005206078000 $333,000 00
Libby Watson 6183 3) GR92 538070 005206078010 $333,000.00 P
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Originating Department Head:
4) R105
472092
0052004
$333,000 00 /
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5) R105 472092 0052004 $333,000 00
5) R105 539120 0052004 $333,000 00 ~~T `~~ 2~
Jerome Walker 7537 (from) /
4) GR92. 538070 005206078010 $333,000.00 /
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