Fiscal Note
This ordinance would allow up to $400,000 of Affordable Housing Trust Fund money to be disbursed prior to the end of the year as one-time grants to assist participants in the CDA’s Housing Choice Voucher (Section 8) program whose percentage of rent burden has increased substantially as a result of HUD’s decrease in 2009 funding to the CDA. The Affordable Housing Trust Fund currently has a balance of $4,080,000. Since the expenditure of these funds would not flow through the General Fund, there is no impact on the City's eligibility under the state Expenditure Restraint Program. No budgetary provision has been made for the administration of this grant program.
Title
Creating Section 4.22(4)(m) of the Madison General Ordinances to assist participants in the CDA’s Housing Choice Voucher (Section 8) program whose percentage of rent burden has increased substantially as a result of HUD’s decrease in 2009 funding to the CDA.
Body
DRAFTER'S ANALYSIS: This ordinance allows up to $400,000 of Affordable Housing Trust Fund money to be disbursed as one-time grants to assist participants in the CDA’s Housing Choice Voucher (Section 8) program whose percentage of rent burden has increased substantially as a result of HUD’s decrease in 2009 funding to the CDA.
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