Title
Resolution to Allocate Funds to the Affordable Housing Fund
Body
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