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AGENDA RECOMMENDATION |
Item No: 4.A.
Economic Development Authority
- Meeting Date:
- 12/09/2024
Agenda Item:
Public Hearing approving the 2025 Public Housing Capital Fund Budget.
Recommendation/Action(s):
Adoption of the attached resolution.
Summary:
The Public Housing Capital Fund Budget has traditionally been approved each year with the PHA Annual Plan to manage the formula funding for modernization of the Mankato Public Housing units. HUD has separated the procedures and adjusted timelines for the Capital Fund budget to align with the annual operating budget process.
The 2025 Capital Fund includes the continued modernization and repair of the public housing units and site improvements required through RAD process. This plan will also include the repositioning of the Public Housing through Section 18 Conversion and the RAD Small PHA Blend programs. For 2025, the capital fund budget anticipates $550.000.00 and provides funding for dwelling improvements, appliances, site improvements and general operations as presented in the attached budget.
The Capital Fund Program for 2025 has been posted for public comments and a Resident Advisory Meeting was held on 11-12-24. No comments on capital funds were received.
The requested action is to approve by resolution the 2025 Capital Fund Budget as presented.
The 2025 Capital Fund includes the continued modernization and repair of the public housing units and site improvements required through RAD process. This plan will also include the repositioning of the Public Housing through Section 18 Conversion and the RAD Small PHA Blend programs. For 2025, the capital fund budget anticipates $550.000.00 and provides funding for dwelling improvements, appliances, site improvements and general operations as presented in the attached budget.
The Capital Fund Program for 2025 has been posted for public comments and a Resident Advisory Meeting was held on 11-12-24. No comments on capital funds were received.
The requested action is to approve by resolution the 2025 Capital Fund Budget as presented.