HomeMy WebLinkAboutAGENDA REPORT 2012 0201 CC REG ITEM 10FITEM 10.F.
ACTI0N:. -- .
MOORPARK CITY COUNCI - -�-- -
AGENDA REPORT 3�
64
TO: Honorable City Council
FROM: David C. Moe II, Redevelopment Manager
DATE: January 23, 2012 (CC Meeting of 2/1/12)
SUBJECT: Consider Resolution Amending the Fiscal Year 2011/12 Budget
for the First Annual Payment to the Ventura County Housing
Trust Fund
BACKGROUND AND DISCUSSION
On July 6, 2011, the City Council considered a request from the Ventura County
Housing Trust Fund ( "VCHTF ") to provide a $150,000.00 funding commitment over the
next five years ($30,000.00 per year for five years) to be used as match to secure funds
from the Housing and Emergency Shelter Trust Fund Act of 2006 ( "HESTF ") dedicated
to the creation or preservation of affordable housing. Given the limited sources of
funding that can be utilized as matching funds and the current economy, the City
Council committed to a $50,000.00 funding contribution over the next five years
($10,000.00 per year) funded from the City's Affordable Housing Fund.
The VCHTF met with the State of California Housing and Community Development
Department ( "HCD ") for a page by page review of its HESTF application. HCD has
raised a few issues that conflict with the planned operation of the VCHTF and the City
Council's direction on July 6, 2011.
The City Council approved the revised operation of the VCHTF on December 7, 2011,
and authorized the $50,000.00 contribution payable in two annual payments. The City
Council also allowed up to 10% of the contribution to be utilized solely for direct staff
time to implement VCHTF activities.
Staff has received a letter dated January 13, 2012, from the VCHTF requesting the first
annual payment of $25,000.00. A budget amendment in the amount of $25,000.00 from
the City Affordable Housing Fund (2201) will be needed to fund the first annual payment
to the VCHTF. The second annual payment will be included in the proposed Fiscal Year
2012/13 budget.
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Honorable City Council
February 1, 2012
Page 2
FISCAL IMPACT
A budget amendment in the amount of $25,000.00 from the City Affordable Housing
Fund (2201) will be needed to fund the annual payment to the VCHTF.
STAFF RECOMMENDATION (ROLL CALL VOTE)
Adopt Resolution No. 2012- allocating $25,000.00 from the City Affordable
Housing Fund (2201) for the first annual payment to the Ventura County Housing Trust
Fund.
Attachment I: Resolution No. 2012-
ATTACHMENT 1
RESOLUTION NO. 2012 -
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
MOORPARK, CALIFORNIA, AMENDING THE FISCAL YEAR
2011/2012 BUDGET BY APPROPRIATING $25,000 FROM THE
CITY AFFORDABLE HOUSING FUND (2201) FOR THE FIRST
ANNUAL PAYMENT TO THE VENTURA COUNTY HOUSING
TRUST FUND
WHEREAS, on June 15, 2011, the City of Moorpark adopted the Operating and
Capital Improvement budget for Fiscal Year 2011/12; and
WHEREAS, on July 6, 2011, the City Council considered a request from the
Ventura County Housing Trust Fund ( "VCHTF ") to provide a funding commitment to be
used as match to secure funds from the Housing and Emergency Shelter Trust Fund
Act of 2006, and
WHEREAS, the City Council committed to a $50,000.00 funding contribution over
the next five years ($10,000.00 per year) funded from the City's Affordable Housing
Fund; and
WHEREAS, at the request of the VCHTF, the City Council approved the revised
operation of the VCHTF on December 7, 2011, and authorized the $50,000.00
contribution payable in two annual payments; and
WHEREAS, VCHTF submitted a letter dated January 13, 2012, requesting the
first annual payment of $25,000.00; and
WHEREAS, Exhibit "A ", attached hereto and made a part hereof, describes said
budget amendment and the resultant impact to the budget line item.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK
DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. A budget amendment in the amount of $25,000.00 from the City
Affordable Housing Fund (2201), as more particularly described in Exhibit "A ", attached
hereto, is hereby approved.
SECTION 2. The City Clerk shall certify to the adoption of this resolution and
shall cause a certified resolution to be filed in the book of original resolutions.
M.
Resolution No. 2012 —
Page 2
PASSED AND ADOPTED this 1 st day of February, 2012.
Janice S. Parvin, Mayor
ATTEST:
Maureen Benson, City Clerk
Exhibit A — Budget Amendment
E'er
EXHIBIT A
BUDGET AMENDMENT FOR
City Affordable Housing Fund (2201 ) for First Annual Payment to Ventura County Housing Trust Fund
2011/12
FUND ALLOCATION FROM:
Fund
Account Number
Amount
City Affordable Housing Fund (2201 )
2201 -5500
$ 25,000.00
Total
$ 25,000.00
$ 25,000.00
DISTRIBUTION OF APPROPRIATION TO EXPENSE ACCOUNTS:
Account Number
Current Budget
Revision
Amended Budget
2201.2430.0000.9274
$ -
$ 25,000.00
$ 25,000.00
Total
$ -
$ 25,000.00
$ 25,000.00
Approved as to Form: 6�� ALL�
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