Fiscal Note
The Ordinance governing the operation of the Affordable Housing Trust Fund would have provided for distributions of up to $353,695 in 2008. Three projects (with total proposed Trust Fund funding of $82,250) were approved by the Council via several Resolutions. However, the funding was not disbursed in 2008 as the projects had not yet come to fruition. This Resolution provides reauthorization to proceed with the projects in 2009. Sufficient funding is available within the Affordable Housing Trust Fund.
Title
Amending the 2009 budget of the Affordable Housing Trust Funds (AHTF) to provide for additional expenditures of $82,250 to support projects that have been previously authorized but for which no disbursements have yet been made.
Body
WHEREAS, three previously approved Resolutions (Legistar #s 06983, 10710, and 12490) provided for expenditures from the Affordable Housing Trust Fund for the following projects:
The Road Home (f/k/a/ Interfaith Hospitality Housing) Acquisition Project ($26,250)
Common Wealth Development Corporation East Wilson Home Ownership ($50,000)
Movin’ Out Accessibility ($6,000) and;
WHEREAS, the carryover Resolution #12488 listed the above three projects, funded with AHTF funds, with the intent of carryover, however the fiscal note did not included these funds.
WHEREAS, recent discussions with the City Comptroller indicated that a resolution specific to the reauthorization of the appropriation of AHTF funds for these projects should be submitted for Council approval and;
WHEREAS, the Ordinance governing the operation of the Affordable Housing Trust Fund would have provided for distributions of up to $353,695 in AHTF funds in 2008, and the three projects detailed above were funded within that distribution amount but due to the delay of site identification or late year approval, the funds were not spent in 2008 and;
WHEREAS, the adopted 2009 Operating Budget includes authorization to distribute $40,000 in AHTF funds wh...
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