HomeMy WebLinkAboutSummary FormAGENDA ITEM SUMMARY FORM
FILE ID: 0 s- 64 6 .6
Date: 7/12/2005
Commission Meeting Date: 7/28/2005
Requesting Department: Community Development
District Impacted: District 5
Type: ® Resolution ❑ Ordinance E Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: Transferring HOME District 5 funds to Haven Economic Development. Inc.
Purpose of Item:
AUTHORIZING THE TRANSFER OF HOME INVESTMENT PARTNERSHIPS ("HOME")
DISTRICT FIVE FUNDS, IN THE AMOUNT OF $50,000; ALLOCATING SAID FUNDS TO
HAVEN ECONOMIC DEVELOPMENT, INC. FOR HOME BUYER EDUCATION ACTIVITIES,
AS SPECIFIED IN ATTACHMENT "A", ATTACHED AND INCORPORATED; AUTHORIZING
THE CITY MANAGER TO EXECUTE AN AGREEMENT, WITH SAID AGENCY, FOR SAID
PURPOSE.
Background Information:
Per the Code of Regulation 24 CFR 92.206(d) (6), HOME funds can be utilized for staff and overhead
costs directly related to carrying out the project..... and other services related to assisting potential
owners, tenants and homebuyers...."; and
This Administration is requesting transferring HOME District 5 funds, in the amount of $50,000, to
Haven Economic Development, Inc. for Horne Buyer Education activities; and
Said agency would provide home buyer education to District 5 residents for all projects being
developed receiving HUD funding.
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:
Dept. Direct()
Chief
Final Approvals
(SIGN AND DATE)
4tf/
City Manager
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