HomeMy WebLinkAboutRES CC 2017 3583 2017 0301 RESOLUTION NO. 2017-3583
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
MOORPARK, CALIFORNIA, AMENDING THE FISCAL YEAR
2016/17 BUDGET TO ALLOCATE FUNDING FOR A $1,250,000
LOAN FOR THE AREA HOUSING AUTHORITY OF THE
COUNTY OF VENTURA'S WALNUT STREET APARTMENTS
PROJECT FROM THE CITY AFFORDABLE HOUSING FUND
(2121)
WHEREAS, on June 15, 2016, the City Council approved an Amendment to the
Disposition and Development Agreement with the Area Housing Authority (Authority) for
the Walnut Street Apartments Project, which authorized a loan to the Authority for
$1,250,000; and
WHEREAS, on June 15, 2016, the City Council adopted the Operating and
Capital Improvement Projects Budget for Fiscal Year 2016/17; and
WHEREAS, a staff report has been presented to the City Council requesting
allocation of the loan funding from the City Affordable Housing Fund (2121); and
WHEREAS, a budget amendment of $1,250,000 is requested to fund the loan
from the City Affordable Housing Fund (2121); and
WHEREAS, Exhibit "A", attached hereto and made a part hereof, describes said
budget amendment and the resultant impact to the budget line items.
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK
DOES HEREBY RESOLVE AS FOLLOWS:
SECTION 1. A budget amendment in the amount $1,250,000 from the City
Affordable Housing Fund (2121), 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 1st day of March, 2017.
•
ice S. Parvin, Mayor
ATTEST:
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Maureen Benson, City Clerk J 441
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Exhibit A — Budget Amendment ori-
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Resolution No. 2017-3583
Page 2
EXHIBIT A
BUDGET AMENDMENT FOR
CITY AFFORDABLE HOUSING FUND
FOR AREA HOUSING AUTHORITY LOAN FOR WALNUT STREET APARTMENT PROJECT
FISCAL YEAR 2016/17
FUND BALANCE
ALLOCATION:
Fund-Account
Fund Title Number Amount
City Affordable Housing Fund 2121-000-00000-33990 $ 1,250,000.00
Total $ 1,250,000.00
EXPENDITURE APPROPRIATION:
Current Amended
Account Number Budget Revision Budget
2121-422-00000-51810 - $ 1,250,000.00 $ 1,250,000.00
$ - $
$
Total - $ 1,250,000.00 $ 1,250,000.00
Resolution No. 2017-3583
Page 3
STATE OF CALIFORNIA )
COUNTY OF VENTURA ) ss.
CITY OF MOORPARK )
I, Maureen Benson, City Clerk of the City of Moorpark, California, do hereby
certify under penalty of perjury that the foregoing Resolution No. 2017-3583 was
adopted by the City Council of the City of Moorpark at a regular meeting held on the 1st
day of March, 2017, and that the same was adopted by the following vote:
AYES: Councilmembers Mikos, Pollock, Simons, Van Dam, and Mayor Parvin
NOES: None
ABSENT: None
ABSTAIN: None
WITNESS my hand and the official seal of said City this 15th day of March, 2017.
Maureen Benson, City Clerk
(seal)
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