* WARNING: THIS IS AN UNOFFICIAL, INTRODUCTORY COPY OF THE BILL.
THE OFFICIAL COPY CONSIDERED BY THE CITY COUNCIL IS THE FIRST READER COPY.
INTRODUCTORY*
CITY OF BALTIMORE
COUNCIL BILL
Introduced by: The Council President
At the request of: The Administration (Department of Finance)
A BILL ENTITLED
AN ORDINANCE concerning
Title
Supplementary General Fund Capital Appropriation - Department of Housing and Community Development - $10,000,000
FOR the purpose of providing a Supplementary General Fund Capital Appropriation in the amount of $10,000,000 to the Department of Housing and Community Development (Account # 9910-587-904) to provide funding for the Baltimore Affordable Housing Program; and providing for a special effective date.
Body
BY authority of
Article VI - Board of Estimates
Section 8(b)(3) and (c)
Baltimore City Charter
(1996 Edition)
Recitals
Whereas, there is a growing need to develop programs to improve and expand housing opportunities for persons of low and moderate income;
Whereas, economic diversity in the City and its neighborhoods stimulates economic investment, promotes neighborhood stability, and increases public safety for all;
Whereas, private sector individuals and businesses, while being the primary source of housing and economic development activity, are not alone able to create economically diverse neighborhoods or developments, or to develop and maintain housing for the broad range of incomes that will lead to economic diversity;
Whereas, Baltimore City can provide financial incentives to developers, households, and non-profit organizations to promote economically diverse housing in City neighborhoods, and to increase housing opportunities for working families and other persons of low and moderate income; and
Whereas, the Department of Housing and Community Development will administer the Baltimore Affordable Housing Program for the purposes of promoting economically diverse housing in City neighborhoods and increasing housing opportunities for working families and other persons of low and moderate income:
This Ordinance provides for a Supplementary General Fund Capital Appropriation to fund the Baltimore Affordable Housing Program.
The revenue appropriated by this Ordinance represents funds from the Fiscal 2005 Fund Balance in excess of the revenue relied on by the Board of Estimates in determining the tax levy required to balance the budget for the Fiscal Year 2006.
This additional revenue could not have been reasonably anticipated when the Ordinance of Estimates for Fiscal Year 2006 was formulated.
This appropriation is made necessary by a material change in circumstances since the Ordinance of Estimates for Fiscal Year 2006 was formulated, or is for a new program that could not have been reasonably anticipated when that Ordinance of Estimates was formulated.
On August 3, 2005, the Board of Estimates recommended this appropriation to the City Council.
SECTION 1. BE IT ORDAINED BY THE MAYOR AND CITY COUNCIL OF BALTIMORE, That $10,000,000 shall be made available to the Department of Housing and Community Development (Account #9910-587-904) as a Supplementary General Fund Capital Appropriation for Fiscal Year 2006, to provide funding for the Baltimore Affordable Housing Program. The source of revenue for this appropriation is from the Fiscal 2005 Fund Balance, in excess of the amount from this source that was relied on by the Board of Estimates in determining the tax levy required to balance the budget for the Fiscal Year 2006.
SECTION 2. AND BE IT FURTHER ORDAINED, That this Ordinance takes effect on the date it is enacted.
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