Title
An Ordinance authorizing and directing the Dept. of Finance to designate funding in the amount of at least $2,000,000 each Fiscal Year to fund the activities of the Affordable Housing Fund, and to designate funding in the amount of at least $750,000 each Fiscal Year to fund the activities of the Innovative and Sustainable Solutions to Homelessness Fund, commencing in time for the Fiscal Year 2016 budget. [Dept. of Planning, Preservation, and Development, Paulsen]
Summary
Authorization to adopt an ordinance directing the Department of Finance and Administration, beginning fiscal year 2016, and at the beginning of each fiscal year thereafter (July 1), to designate a fund of $2,000,000 to fund the activities of the Affordable Housing Fund, and a fund of $750,000 to fund the activities of the Innovative and Sustainable Solutions to Homelessness Fund. (0817-14) (Paulsen)
This is a request to adopt an ordinance to direct the Department of Finance, beginning in fiscal year 2016, and at the beginning of each fiscal year thereafter to allocate $2,000,000 to the Affordable Housing Fund, and $750,000 to the Innovative and Sustainable Solutions to Homelessness Fund.
Budgetary Implications: FY 2016
Advance Document Review: Law
Fully Budgeted:
Account Number:
This Fiscal Year Impact:
Annual Impact: $2,750,000
Project:
Activity:
Budget Reference:
Current Balance:
Body
BE IT ORDAINED BY THE COUNCIL OF THE LEXINGTON-FAYETTE URBAN COUNTY GOVERNMENT:
Section 1 - That in order to fund the activities of the "Affordable Housing Fund", authorized by Ordinance No. 815-2014, and administered by Lexington-Fayette Urban County Government's Office of Affordable Housing, and the "Innovative and Sustainable Solutions to Homelessness Fund", authorized by Ordinance No. 816-2014, and administered by Lexington-Fayette Urban County Government's Office of Homelessness Prevention and Intervention, the Lexington-Fayette Urban County Government's Department of Finance, be and hereby is authorized and directed to designate funding in the amount of at least $2,000,000 each fiscal year for the "Affordable Housing Fund", and to designate funding in the amount of at least $750,000 each fiscal year for the "Innovative and Sustainable Solutions to Homelessness Fund" commencing in time for the Fiscal Year 2016 Budget.
Section 2 - That this Ordinance shall become effective on the date of its passage.
PASSED URBAN COUNTY COUNCIL:
MAYOR
ATTEST:
_________________________________
CLERK OF URBAN COUNTY COUNCIL