AI- 31186
17.B.
CC REGULAR
- Meeting Date:
- 03/13/2012
- Department Head:
- Michelle Mendoza
- Department:
- URBAN COUNTY
Information
CAPTION
Request approval to reallocate FY 2011 HOME funds in the amount of $50,000.00, from the Community Housing Development Organization (CHDO) Program to the Home Buyer Assistance Program.
BACKGROUND
The Urban County Program HOME allocation for FY 2011 is $2,621,620.00. These funds have been distributed as shown in the table below under the column “Current Funding”. Presently, the Home Buyer Assistance Program has a balance of only $19,163.10 and continues to receive applications for assistance from families purchasing new homes within the County. Our office was recently made aware that one of the CHDO projects set to be awarded with FY 2011 funds will not move forward due to unforeseen circumstances. The UCP requests the reallocation of $50,000.00 to the Home buyer Assistance Program from the CHDO line item.
| HOME Programs | Fiscal Year 2011 | |
| Current Allocation | Proposed Allocation | |
| Home Buyer Assistance | $50,000 | $100,000 |
| Rehabilitation | $909,458 | $909,458 |
| CHDO | $1,400,000 | $1,350,000 |
| Administration | $262,162 | $262,162 |
| Total | $2,621,620 | $2,621,620 |
Fiscal Impact
Attachments
No file(s) attached.
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Budget and Management | mmunoz | 02/23/2012 11:30 AM |
| Auditor's Office | aduran | 03/07/2012 01:18 PM |
| Purchasing / Internal | msalazar | 03/07/2012 01:33 PM |
- Form Started By:
- Melissa Flores
- Started On:
- 02/23/2012 08:47 AM
- Final Approval Date:
- 03/07/2012