City of Albuquerque - File #: R-23-177

• File #: R-23-177
• Type: Resolution
• Status: Enacted and Published
• File created: 10/16/2023
• In control: City Council
• Final action: 11/8/2023
• Enactment date: 11/22/2023
• Enactment #: R-2023-092
• Title: Designating Fund '305 Misc.' As The 'Housing Forward Fund' And Requiring The Administration To Provide An Annual Report (Benton)
• Sponsors: Isaac Benton

Date	Action By	Action	Result
11/22/2023	City Clerk	Published
11/21/2023	Mayor	Not Signed by the Mayor
11/15/2023	City Council	Sent to Mayor for Signature
11/8/2023	City Council	Passed as Amended	Pass
11/8/2023	City Council	Amended	Pass
10/16/2023	City Council	Introduced (Immediate Action Requested)
10/16/2023	President	Immediate Action Requested
10/16/2023	City Council	Postponed	Pass

CITY of ALBUQUERQUE
TWENTY FIFTH COUNCIL


COUNCIL BILL NO. R-23-177 ENACTMENT NO. ________________________

SPONSORED BY: Isaac Benton


RESOLUTION
title
Designating Fund '305 Misc.' As The 'Housing Forward Fund' And Requiring The Administration To Provide An Annual Report (Benton)
body
DESIGNATING FUND '305 MISC.' AS THE 'HOUSING FORWARD FUND' AND REQUIRING THE ADMINISTRATION TO PROVIDE AN ANNUAL REPORT.
WHEREAS, the Capital Implementation Program of the City of Albuquerque is governed by the requirements established under Section 2-12-4 ROA, 1994, which provides for amendments to the approved program; and
WHEREAS, the Council adopted Ordinance O-22-25 which authorized the issuance and sale of a maximum of $100,000,000 of City of Albuquerque, New Mexico Gross Receipt Tax Improvement Revenue Bonds Series 2022 for various capital projects; and
WHEREAS, the Council adopted Resolution R-22-34, which appropriated the bond proceeds from the New Mexico Gross Receipts Tax Improvement Revenue Bonds Series 2022 to project scopes for necessary projects in the City; and
WHEREAS, R-22-34 appropriated $20,000,000 for Affordable Housing; and
WHEREAS, prudent oversight of these funds is essential to ensure their proper utilization; and
WHEREAS, requiring City Council approval for expenditures for these funds enhances transparency, accountability, and public confidence in the financial decisions made by the City Administration.
BE IT RESOLVED BY THE COUNCIL, THE GOVERNING BODY OF THE CITY OF ALBUQUERQUE:
SECTION 1. As of the publication of this Resolution, Fund '305- Misc.' activity number 7272040, shall be designated as the 'Housing Forward Fund.'
SECTION 2. The Administration shall annually submit, as an Executive Communication, a report to the City Council detailing the status of the Housing Forward Fund, including the current balance and accounting of the Fund. The report shall also include the details of all completed, cu...