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ORDINANCE NO.2024-68 <br />AN ORDINANCE ACCEPTING ADDITIONAL HOME INVESTMENT PARTNERSHIPS <br />PROGRAM FUNDING IN THE AMOUNT OF $0.31 AND APPROPRIATING SAID <br />AMOUNT IN THE FY 2025 COMMUNITY PLANNING AND DEVELOPMENT <br />PROGRAM FUND BUDGET FOR USE IN IMPLEMENTING THE ANNUAL ACTION <br />PLAN. <br />WHEREAS, the US Department of Housing and Urban Development ("HUD") makes an <br />annual allocation of Home Investment Partnerships ("HOME") entitlement funds to eligible <br />localities; and <br />WHEREAS, HUD's initial estimate of the City of Portsmouth's FY 2025 allocation was <br />$455,398 and the City accordingly appropriated that amount through the adoption of its annual <br />Operating Budget Ordinance on May 14, 2024; and <br />WHEREAS, HUD has now increased its original estimate of the allocation by $0.31; and <br />WHEREAS, in order to maintain accurate HOME Program accounting records, it is <br />necessary to appropriate the additional $0.31. <br />NOW, THEREFORE, BE IT ORDAINED by the Council of the City of Portsmouth, <br />Virginia: <br />1. That it accepts additional HOME Investment Partnerships program funding in the <br />amount of $0.31 and appropriates said amount in the FY 2025 Community Planning and <br />Development Program Fund Budget. <br />2. That the funds so appropriated shall be used to support the activities in the existing <br />Annual Action Plan. <br />3. That estimated revenues and expenditures in the FY 2025 Community Planning and <br />Development Program Fund Budget are increased by $0.31. <br />4. That this ordinance shall take effect on the date of adoption. <br />ADOPTED by the Council of the City of Portsmouth, Virginia at a meeting held on July <br />23, 2024. <br />Teste: <br />City Clerk <br />