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File #: 17-806HA    Version: 1 Name: Budget Appropriation of Funds in the Amount of $1,418,551.09 for Affordable Housing Purposes
Type: HA- Report Status: Agenda Ready
File created: 7/5/2017 In control: Housing Authority
On agenda: 7/11/2017 Final action: 7/11/2017
Title: REPORT - BUDGET APPROPRIATION OF FUNDS IN THE AMOUNT OF $1,418,551.09 FOR AFFORDABLE HOUSING PURPOSES BACKGROUND: Annually, the Housing Authority’s budget for loan activity is developed with anticipated allocations from the federal government, revenue from In-Lieu Fees, Real Property Transfer Tax, and loan repayments from past fiscal years. As of June 23, 2017, $1,418,551.09 in loan repayments and revenue received in Fiscal Year 2016/2017 are available for appropriation to the Fiscal Year 2017/2018 budget, increasing the amount of funding available for loans for the construction, rehabilitation and conservation of affordable housing units. RECOMMENDATION: It is recommended by the Housing and Community Services Department that the Housing Authority, by resolution, appropriate $1,418,551.09 in Fiscal Year 2016/2017 revenue generated by the Santa Rosa Housing Trust’s loan portfolio to affordable housing purposes.
Sponsors: Housing and Community Services
Indexes: Not a Project
Attachments: 1. Staff Report, 2. Resolution
Related files: 22-408HA, 23-403HA