HomeMy WebLinkAboutAGENDA REPORT 2009 0204 CC REG ITEM 10G 1 0. C7
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BY:
MOORPARK CITY COUNCIL
AGENDA REPORT
TO: Honorable City Council
FROM: David C. Moe II Redevelopment Manager
BY: Jessica Sandifer, Administrative Special•
DATE: January 23, 2009 (CC Meeting of February 4, 2009)
SUBJECT: Consider Resolution Amending Fiscal Year 2008/2009 Budget for
Additional Funds for the Mobilehome Rehabilitation Loan
Program
BACKGROUND
As loans from the City's successful CalHome Mobilehome Rehabilitation Loan Program
are repaid before the loan forgiveness period expires, the funds are deposited into a
special reuse account, to be re-circulated as new loans. The initial CalHome grant of
$420,000 provided funds for 25 mobilehome rehabilitation loans. Funds in the amount
of $60,000 from repaid loans were authorized for new mobilehome rehabilitation loans
during the City's FY 2008/2009 Budget process. Additional funds in the amount of
$41,736 have been added to this reuse account, due to the repayment of mobilehome
rehabilitation loans and interest earned on the account.
DISCUSSION
On February 20, 2008, the City Council adopted Resolution No. 2008-2685, which
authorized reinstating the Mobilehome Rehabilitation Loan Program. Seven (7)
applications were received for the program. Staff determined that 5 of the applicants
are eligible for this program.
Four of the applicants have received bids totaling $73,933. They are now ready to
proceed with the work on their mobilehomes. In order to fully fund these four loans staff
needs to allocate an additional $14,000 from the CalHome Reuse Account. Additional
funds will need to be requested in the future when the fifth applicant is ready to proceed.
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Honorable City Council
February 4, 2009
Page 2
FISCAL IMPACT
The FY 2008/2009 budget authorizes $60,000 from the CalHome Reuse account, a
Budget Amendment is being requested for the additional amount of$14,000 to fully fund
the 4 rehabilitation projects.
STAFF RECOMMENDATION (ROLL CALL VOTE REQUIRED)
1. Adopt Resolution No. 2009 -
Attachment "A" Resolution No. 2009 -
1,10196
ATTACHMENT "A"
RESOLUTION NO. 2009 -
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
MOORPARK, CALIFORNIA, AMENDING THE FISCAL
YEAR 2008/2009 BUDGET BY APPROPRIATING $14,000
FROM THE CITY'S CALHOME PROGRAM REUSE FUND
FOR MOBI LEHOM E REHABILITATION LOANS
WHEREAS, On July 2, 2008, the City Council of the City of Moorpark adopted
the budget for Fiscal Year 2008/2009; and
WHEREAS, the State of California Department of Housing and Community
Development previously provided CalHome funds to the City for mobilehome
rehabilitation loans and some of these mobilehome rehabilitation loans have been paid
off("reuse funds"); and
WHEREAS, $60,000 of reuse funds were previously budgeted in the FY
2008/2009 budget for mobilehome rehabilitation loans; and
WHEREAS, a budget amendment is needed to fully fund four mobilehome
rehabilitations.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK
DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. A budget amendment in the total amount of $14,000 from the City's
CalHome Program Reuse Fund (2202) for the City Mobilehome Rehabilitation Loan
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Program, for mobilehome rehabilitation loans and associated costs, 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.
PASSED AND ADOPTED this 4th day of February 2009.
Janice S. Parvin, Mayor
ATTEST:
Deborah S. Traffenstedt, City Clerk
Exhibit A— Budget Amendment Detail
. F 0197
EXHIBIT A
BUDGET AMENDMENT FOR
CALHOME PROGRAM REUSE FUND
FOR MOBILEHOME REHABILITATION LOAN
FY 2008-09
FUND ALLOCATION FROM:
Fund Account Number Amount
CalHome Program Reuse Fund 2202-5500 $ 141000.00
Total 1 $ 14,000.00
DISTRIBUTION OF APPROPRIATION TO EXPENSE ACCOUNTS:
Account Number Current Budget Revision Amended Budget
2202.2430.0000.9282 $ 607000-00 $ 14,000.00 $ 74,000.00
Total $ 60,000.00 $ 14,000-00 $ 74,000.00
Finance approval:
11,10198