HomeMy WebLinkAbout245-12 RESOLUTIONRESOLUTION NO. 245-12
A RESOLUTION APPROVING A BUDGET ADJUSTMENT IN THE
AMOUNT OF $2,218.00 REPRESENTING A COMMUNITY DEVELOPMENT
BLOCK GRANT HOUSING PROGRAM LIEN PAYOFF
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FAYETTEVILLE, ARKANSAS:
Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves a
budget adjustment, a copy of which is attached as Exhibit "A", in the amount of $2,218.00
representing a Community Development Block Grant housing program lien payoff.
PASSED and APPROVED this 18th day of December, 2012.
APPROVED: ATTEST:
By:
Aures ____ as.
:O LDJe' 1 . ,
By:
SONDRA E. SMITH, City Clerk/Treasurer
City of Fayetteville, Arkansas
Budget Adjustment Form
V12.0724
Budget Year
2012
Division: Community Services
Department: Development Services
Request Date
11/19/2012
Adjustment Number
BUDGET ADJUSTMENT DESCRIPTION / JUSTIFICATION
Increase Housing Contract Services by $2,218 to recognize CDBG Program Income.
Departure hea41('
ctor
Finance 'rector
Chief o Staff
•
or
Account Name
Prepared By: Rachel Fields
Reference:
rafields
Budget & Research Use Only
Type: A B C E P
General Ledger Date
Posted to General Ledger
Checked / Verified
TOTAL BUDGET ADJUSTMENT
Account Number
Initial Date
Initial Date
2,218 2,218
Increase / (Decrease) Project.Sub
Expense Revenue Number
Contract services
CDBG program income
2180.4940.5315.00 3 2,218
2180.0918.4910.00 zi
2,218
EXHIBIT
1,4
C:\Documents and Settings\rafields\Desktop\NEW BA form
1 of 1
Yolanda Fields
Submitted By
City of Fayetteville Staff Review Form
City Council Agenda Items
and
Contracts, Leases or Agreements
12/18/2012
City Council Meeting Date
Agenda Items Only
Community Services
Division
Action Required:
Development Services
Department
Approval of Budget Adjustment recognizing CDBG program income received from a Housing Program lien payoff in
the amount of $2,218.
Cost of this request
2180.4940.5315.00
Account Number
Project Number
Budgeted Item
Category / Project Budget
Program Category / Project Name
Funds Used to Date Program / Project Category Name
Community Services
Remaining Balance Fund Name
Budget Adjustment Attached
X
-4 ( kc,•
Department erector
ate
/f-2i-l2--
Date
11- 2C.v7.0►2,
Finance and Internal Services Director Date
Previous Ordinance or Resolution #
Original Contract Date:
Original Contract Number:
Received in City j' r i r 0 31 RCVn
Clerk's Office
Received in
Mayor's Office
•
Staff recommends approval of the Budget Adjustment.
Revised January 15, 2009
a'F veleville
THE CITY OF FAYETTEVILLE, ARKANSAS
DEPARTMENT CORRESPONDENCE
www.accessfayettevi tle.arg
CITY COUNCIL AGENDA MEMO
To: City Council
Thru: Jeremy Pate, Dir. Community Development
From: Yolanda Fields, Dir. Community S
Date: November 19, 2012
Subject: Approval of a Budget Adjustment for the Community Services Division
PROPOSAL:
The Community Development Block Grant Housing Program assists qualified low -moderate income
homeowners in Fayetteville to be able to remain in their homes by providing home rehabilitation such as siding,
roofing, doors, windows, electrical and plumbing upgrades. A forgivable lien is placed on rehabilitated homes
that reflects the cost of the project. If the home is sold before the forgivable lien period expires, the balance of
the lien must be repaid to the CDBG program as Program Income.
Community Services would like to budget the Program Income received from a Housing Program lien payoff in
the amount of $2,218.
RECOMMENDATION:
Staff recommends approval of a budget adjustment to budget the CDBG Program Income.
BUDGET IMPACT:
Increase the Contract Services account for the CDBG Housing Program by $2,218 as listed in the budget
adjustment. The Housing Program's Contract Services account is used to pay for housing rehabilitation for
qualified low -moderate income homeowners in Fayetteville.
RESOLUTION NO.
A RESOLUTION APPROVING A BUDGET ADJUSTMENT IN THE
AMOUNT OF $2,218.00 REPRESENTING A COMMUNITY DEVELOPMENT
BLOCK GRANT HOUSING PROGRAM LIEN PAYOFF
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FAYETTEVILLE, ARKANSAS:
Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves a
budget adjustment, a copy of which is attached as Exhibit "A", in the amount of $2,218.00
representing a Community Development Block Grant housing program lien payoff.
PASSED and APPROVED this 18th day of December, 2012.
APPROVED: ATTEST:
By: By:
LIONELD JORDAN, Mayor SONDRA E. SMITH, City Clerk/Treasurer