Click here to view entire ordinance
SALT LAKE CITY ORDINANCE
No. 47 of 2019
(Authorizing release of funds from Funding Our Future
revenues holding account.)
An ordinance authorizing release of funds for housing programming from Funding Our Future (Sales Tax) revenues holding account.
WHEREAS, pursuant to Ordinance 23 of 2019 (the “Budget Ordinance”), the Salt Lake City Council (the “Council”) adopted the final budget of Salt Lake City effective for the fiscal year beginning July 1, 2019 and ending June 30, 2020 (the “Budget”), in accordance with the requirements of Section 10-8-6 of the Utah Code;
WHEREAS, the Mayor’s recommended budget requested that some of the revenues generated from Funding Our Future (Sales Tax) be used to fund certain housing programs;
WHEREAS, Council appropriated $1,775,000 of the revenues as requested, and elected to place such funds in a holding account until the Council has approved a process to distribute the funds for certain housing programs listed on Exhibit A attached hereto (the “Housing Programs”), and such approval shall be by ordinance pursuant to Section 4.E.3. of the Budget Ordinance;
WHEREAS, the Housing and Neighborhood Development Division has proposed a process to distribute the funds for the housing programs, called the FY20 Process - Funding our Future: Housing Programs, attached hereto as Exhibit B (the “FY20 Process”);
WHEREAS, the Council has determined that the FY20 Process meets the conditions required by the Council for the release of the funds from the holding account.
NOW, THEREFORE, be it ordained by the City Council of Salt Lake City, Utah:
SECTION 1. The Salt Lake City Council does hereby approve the FY20 Process for the Housing Programs and authorizes the release of $1,775,000 from the holding account for such Housing Programs.
SECTION 2. Effective Date. This ordinance shall become effective immediately upon publication.
Passed by the City Council of Salt Lake City, Utah, this 3rd day of September, 2019.
Bill No. 47 of 2019.
Published: September 9, 2019.