TO SPECIALLY APPROPRIATE FROM THE GENERAL FUND EXPENDITURES NOT OTHERWISE APPROPRIATED (Authorizing the Transfer of Funds to the City and the Appropriation of Such Funds from the General Fund to the Housing Development Fund)
On December 6, 1995, the Common Council adopted Ordinance 95-75 establishing a Designated Housing Trust Endowment Fund (“Fund”) at the Community Foundation of Bloomington and Monroe County (“Community Foundation”). The purpose of this Fund was to promote affordable housing options in the City of Bloomington (“City”). The Community Foundation and the City agree that the funds in excess of the original amount transferred by the City to the Community Foundation may be transferred back to the City by the Community Foundation, and the funds should be appropriated for the City’s Housing Development Fund to further the purposes of developing affordable housing options for Bloomington citizens. Note: On March 22, 2017, the Council adopted Am 01, which reduced the appropriation from $425,000 to $404,500 to align better with the expected transfer from the Community Foundation. This amount appears in Section 1 and Section 2 of the legislation.
| Amends Code | No |
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| Committee | 2017-03-08 | Recommend Do Pass | 8-0-1 (Volan) |
|---|---|---|---|
| Final | 2017-03-22 | Passed | 9-0 |