HomeMy WebLinkAboutReso 2012-089 - Housing Asset Fund
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Resolution No. 2012-089
A RESOLUTION OF THE CITY OF REDDING APPROVING AND ADOPTING THE 33RD
AMENDMENT TO CITY BUDGET RESOLUTION NO. 2011-111 APPROPRIATING $98,500
FOR HOUSING ACTIVITIES IN THE LOW/MOD HOUSING ASSET FUND FOR FISCAL
YEAR 2012-13
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF REDDING
THAT Budget Resolution No. 2011-111 be and is hereby amended as follows:
Fund Division Description Increase Decrease
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230 972 Low/Mod Housing Asset Fund $ 98,500
Use of Source of
Funds Funds
Decrease Be2innin2 Cash
230-972-1-0001-01 Beginning Balance $ 73,010
Increase Revenue
230-972-7-9100-01 Miscellaneous Revenue 100
230-972-9-7200-0 I Loan Repayment Principal 16,800
230-972-9-7400-0 I Loan Repayment Interest 9,380
230-972-9-7630-01 Housing Loan Interest 2,450
230-972-9-7635-01 Rehab Loan Principal 9,480
230-972-9-7640-01 DAP Loan Interest 8,910
230-972-9-9110-01 Investment Income 130
Decrease Revenue
230-972-9-7645-01 DAP Loan Principal (21,760)
Increase Expenditures
230-972-1990-01 Community Development $ 19,840
230-972-1967 -01 City Manager 3,180
230-972-1963-01 Finance 3,310
230-972-1954-01 Successor Agency 15,340
230-972-2253-01 Professional Services/Consult 2,500
230-972-2254-0 I Specialized Services 4,150
230-972-2671-01 Travel Expense 2,500
230-972-2782-01 Employee Training 2,500
230-972-4756-01 Other Housing 40,000
230-972-4885-10 Rehab/Homebuyer Program 94,180 j)
Decrease Expenditures ~
230-972-2467 -01 Loan Fees (1,000) ()
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230-972-4190-01 Property Management/Sales Expense (88,000) ~
$ \
T olal 98,500 $ 98,500 0
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33RD AMENDMENT TO CITY BUDGET RESOLUTION NO. 2011-111
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THAT the purpose is to appropriate $98,500 for housing activities in the Low/Mod Housing Asset Fund
for fiscal year 2012-13.
I HEREBY CERTIFY that the foregoing Resolution was introduced and read at a regular meeting of the
City Council of the City of Redding on the 16th day of October, 2012, and was duly adopted at said
meeting by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
COUNCIL MEMBERS: Bosetti, Jones, McArthur, Sullivan & Dickerson
COUNCIL MEMBERS: None
COUNCIL MEMBERS: None
COUNCIL MEMBERS: None
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DICK DICKERSON, Mayor
FORM APPROVAL
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)1s~ RICHARD A. DUVERNAY, City Attorney
BARRYE.DeWALT
33RD AMENDMENT TO CITY BUDGET RESOL UTION NO. 20 I I-I I I
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