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File #: 15449    Version: 1 Name: Trust fund
Type: Ordinance Status: Filed
File created: 7/15/2009 In control: HOUSING COMMITTEE (ended 6/2012)
On agenda: 7/21/2009 Final action: 10/6/2009
Enactment date: Enactment #:
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.
Sponsors: Michael Schumacher, Bridget R. Maniaci, Brian L. Solomon, Julia S. Kerr, Shiva Bidar, Larry Palm, Michael E. Verveer, Satya V. Rhodes-Conway, Steve King, Marsha A. Rummel, Joseph R. Clausius
Date Ver.Action ByActionResultAction DetailsMeeting DetailsWatch
10/6/20091 COMMON COUNCIL Place On FilePass Action details Meeting details Not available
9/3/20091 COMMUNITY DEVELOPMENT BLOCK GRANT COMMITTEE Return to Lead with the Recommendation to Place on FilePass Action details Meeting details Not available
9/2/20091 HOUSING COMMITTEE (ended 6/2012) RECOMMEND TO COUNCIL TO PLACE ON FILE - REPORT OF OFFICERPass Action details Meeting details Not available
8/24/20091 BOARD OF ESTIMATES (ended 4/2017) Return to Lead with the Recommendation to Place on FilePass Action details Meeting details Not available
8/13/20091 COMMUNITY DEVELOPMENT AUTHORITY Return to Lead with the Recommendation for ApprovalPass Action details Meeting details Not available
8/5/20091 ECONOMIC DEVELOPMENT COMMITTEE Return to Lead with the Recommendation for ApprovalPass Action details Meeting details Not available
8/5/20091 HOUSING COMMITTEE (ended 6/2012)    Action details Meeting details Not available
7/21/20091 HOUSING COMMITTEE (ended 6/2012) Refer  Action details Meeting details Not available
7/21/20091 HOUSING COMMITTEE (ended 6/2012) Refer  Action details Meeting details Not available
7/21/20091 HOUSING COMMITTEE (ended 6/2012) Refer  Action details Meeting details Not available
7/21/20091 HOUSING COMMITTEE (ended 6/2012) Refer  Action details Meeting details Not available
7/21/20091 COMMON COUNCIL Referred  Action details Meeting details Not available
7/15/20091 Attorney's Office/Approval Group Referred for Introduction  Action details Meeting details Not available
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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The Common Council of the City of Madison do hereby ordain as follows:
      Subdivision (m) of Subsection (4) entitled "Trust Fund Distributions" of Section 4.22 entitled "The Madison Affordable Housing Trust Fund" of the Madison General Ordinances is created to read as follows:
"(m)      Notwithstanding anything in this ordinance to the contrary, up to $400,000 of Trust Fund monies may be disbursed as grants to assist participants in the CDA's Housing Choice Voucher (Section 8) program whose tenant portion of rent has increased substantially as a result of HUD's decrease in 2009 funding to the CDA.  The Trust Fund monies may be used to pay that portion of an increase exceeding a rent burden amount determined by the CDA Housing Operations staff to be affordable, within the limitations of the maximum amount of assistance allotted from Trust Fund monies.  Payments may be applied to increased rent burden amounts due October 1, 2009 and thereafter, with the potential for retroactive payments for August and September 2009 rent burden amounts if funds are available.  This paragraph (4)(m) shall sunset on the earlier of the full disbursement of the sum of $400,000 for the purpose specified herein, or January 1, 2010."