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120 <br /> <br />(IH) WHEREAS, the City of Charlottesville has been advised of the approval by the U. S. <br />Department of Housing and Urban Development of Housing Opportunities Made Equal <br />(HOME) funding for the 1997-97 fiscal year; <br /> <br /> WHEREAS, the region has been awarded $669,000, for year four or fiscal year 96/97, <br /> '~ e <br />in HOME funding of which the city will receive $8_~,625 to b expended on affordable <br />housing initiatives such as Downpayment and Closing Cost Assistance, Rental Rehabilitation <br />Loan Program, and Vacant Lot Purchase for construction of tow/moderate income housing; <br /> <br /> WItEREAS, it is a requirement of this grant that projects funded with HOME <br />initiatives money be matched with local funding in varying degrees; <br /> <br /> BE IT RESOLVED by the Council of the City of Charlottesville, Virginia that the <br />local match for the above listed programs will be covered by the Housing Initiatives Capital <br />Improvements Program account (26-041-051528) in the amount of $27,875. The total of the <br />HUD money and the local match, $111,500, will be distributed between the following three <br />accounts: Downpayment and Closing Cost Assistance (11-042-062086) will receive $41,813 <br />from HUD and $13,938 from the City; Rental Rehabilitation Loan Program (11-042-062086) <br />will receive $41,812 from HUD and $13,937 from the City; and Vacatn Lot Purchase <br />(11-042-062086) shall be set up for potential future use. <br /> <br />HOME Program Funds <br />(Fiscal Year 96/97) <br /> <br />HOME %MATCH LOCAL <br />FUNDING REQUIRED MATCH TOTAL <br /> <br />Downpayment/Closing <br /> Cost Assistance <br />11-042-06086 <br /> <br />$41,813 25% $13,938 $55,751 <br /> <br />Rental Rehab. <br /> (not substantial) <br />11-042-062086 <br /> <br />$41,812 25% $13,937 $55,749 <br /> <br />VacantLotPurchase <br />(ukimate~ newcon~ruction) <br />11-042-062086 $0 <br /> $83,625 <br /> <br />25% $0 $0 <br /> $27,875 $111,500 <br /> <br />c. APPROPRIATION: $8,341.84 - Drug Seizure Assets (2nd reading) <br /> <br /> WHEREAS, 'the Police Department of the City of Charlottesville has received <br />$8,341.84, representing money obtained from the sale of assets lawfully seized by the City <br />Police Department from persons subsequently convicted of drug related crimes; and <br /> <br /> WHEREAS, said funds have been deposited with the Treasurer of the City, and need <br />to be distributed to the other members of the Jefferson Area Drug Enforcement Task Force <br />(15% to each member) and the Federal Drug Fund (40%) in accordance with federal law; and <br /> <br /> WHEREAS, the federal policies authorize the City Police Department to receive and <br />spend snch proceeds provided the expenditure is on drug related law enforcement matters; <br />now, therefore, <br /> <br /> BE IT RESOLVED by the Council of the City of Charlottesville, Virginia that such <br />$8,341.84 shall be disbursed as follows: <br /> <br />Agency <br />City of Charlottesville <br />County of Albemarle <br />University of Virginia <br />Virginia State Police <br />Federal Drug Fund <br /> ? <br /> <br />Amount <br />$1,251.27 <br />$1,251.27 <br />$1,251.27 <br />$1,251.27 <br />$ 3,336.76 <br /> <br /> <br />