HomeMy WebLinkAboutsummary formDate: 4/6/2005
AGENDA ITEM SUMMARY FORM
FILE ID: 0 5- 60'5 37
Requesting Department: Community Development
Commission Meeting Date: 4/28/2005 District Impacted:
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: Transferring funds to First Time Homebuyer Program and CIP
Purpose of Item:
The purpose of this item is for the City Commission to transfer District 5 HOME funds, in the amount
of $125,000, to the First Time Homebuyer Program and the amount of $125,000 from 30th year
CDBG Program Income Funds to CIP to contract an engineering firm for an overall assessment and
scope of services outline for Town Park Village.
Background Information:
• The amount of $125,000 to the First Time Homebuyer program will be utilized for down payment
and closing cost assistance for homebuyers;
• Town Park Village provides housing to persons and families earning between 30% to 50% of
median income;
• The buildings and units are in need of repair as a result of years of neglect;
• The homeowner's association has requested the City's assistance in addressing the physical repair
issues that have surfaced because the aforementioned;
Budget Impact Analysis
Is this item related to revenue?
Is this item an expenditure? If so, please identify funding source below.
General Account No: _
Special Revenue Account No:
CIP Project No:
Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
Final Approvals
(SIGN AND DATE)
CIP Budget
If using or receiving capital funds
Grants Risk Managem
Purchasing Dept. Directo
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City Manager,
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