HomeMy WebLinkAboutResolution No. 2007-214RESOLUTION N0.2007-214
RESOLUTION RECLASSIFYING AND DESIGNATING FUND BALANCES
FOR THE ECONOMIC DEVELOPMENT AUTHORITY'S HOUSING MAINTENANCE
PROGRAM
WHEREAS, on August 28, 2007 the Columbia Heights Economic Development Authority approved a
10-year Housing Maintenance Program; and
WHEREAS, the purpose of the Housing Maintenance Program is to maintain and improve the housing
stock, tax base and improve the livability of the City's neighborhoods; and
WHEREAS, the City of Columbia Heights has accumulated fund balances in the Business Revolving
Loan Fund, the Rental Housing Fund, the General Fund, the Special Project Fund and the Sheffield
Development Fund for the purpose of funding future expenditures; and
WHEREAS, the City Council has determined that there is a need for a Housing Maintenance Program in
Columbia Heights; and
WHEREAS, it is the intent of the City Council to provide funding for a Housing Maintenance Program:
NOW THEREFORE, BE IT RESOLVED that a Housing Maintenance Program Fund be established as
a fund of the Columbia Heights Economic Development Authority and funds be transferred from the
following funds to the Housing Maintenance Fund 207 effective January 1, 2008.
From Funds:
# Name Amount
299 Business Revolving Loan Fund $306;426
235 Rental Housing $40,688
101 General Fund $138,000
226 Special Project $103,350
410 Sheffield Development 400 000
Total $988,464
BE IT FURTHER RESOLVED that funds be transferred from the following fund to the Housing
Maintenance Fund 207 before December 31, 2008.
From Fund:
# Name
226 Special Project
Amount
$103,350
NOW THEREFORE, BE IT FURTHER RESOLVED that the fund balance in the newly established
Housing Maintenance Fund be appropriated for expenses related to the Housing Maintenance Program.
Passed this 26`h day of November 2007
Offered By: Diehm
Second By: Kelzenberg
Roll Call: Ayes: Peterson, Williams, Diehm, Kelzenberg
Nawrocki
L.
Attest: ;
`~ ~ .r #._ f ~~
F~atricia Muscovitz, City Clerk ~