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File #: 12-1407    Version: 2 Name: 11/8/12 - Affordable Housing Fund
Type: Resolution Status: Passed
File created: 11/8/2012 In control: City Council
On agenda: 11/8/2012 Final action: 11/8/2012
Enactment date: 11/8/2012 Enactment #: R-12-499
Title: Resolution to Allocate Funds to the Affordable Housing Fund
Sponsors: Marcia Higgins, Sandi Smith, John Hieftje, Margie Teall, Sabra Briere
Resolution to Allocate Funds to the Affordable Housing Fund
Whereas, Over the past few months, Councilmember Sandi Smith challenged Council to have a robust discussion of how to fund affordable housing;
Whereas, During the final discussion on October 15, funding from the sale of property was determined to be an appropriate funding mechanism based on the needs of the City;
Whereas, It was determined that any funds from the sale of the YMCA lot would be allocated to the affordable housing fund, and;
Whereas, The City recently sold a strip of property on the old YMCA lot and received $90,000.00;
RESOLVED, That $90,000.00 be appropriated from the General Fund fund balance to the Affordable Housing fund (70); and
RESOLVED, That the Affordable Housing fund FY2013 revenue budget be increased $90,000.
Sponsored by: Councilmembers Smith, Higgins, Teall, Briere and Mayor Hieftje