HomeMy WebLinkAboutA6 - Res. 4692 Community Housing Budget AmendmentPage 1 of 2
Commission Memorandum
REPORT TO: Honorable Mayor and City Commission
FROM: Anna Rosenberry, Administrative Services Director
SUBJECT: RESOLUTION NO. 4692 - A RESOLUTION OF THE CITY
COMMISSION OF THE CITY OF BOZEMAN, MONTANA,
AMENDING FISCAL YEAR 2016 (FY16) ANNUAL BUDGET TO INCLUDE ADDITIONAL APPROPRIATIONS OF $32,000 FROM THE
COMMUNITY HOUSING FUND FOR REACH, INC HOUSING
PROJECT.
MEETING DATE: June 13, 2016
AGENDA ITEM TYPE: Action
RECOMMENDATION: Approve Resolution No 4692, after taking public comment, with any modifications made by the Commission.
BACKGROUND: During the FY16 budget development, the Commission approved the
property tax levy of 3 mills for revenues in the Community Housing fund. At that time,
incentives and potential programs and projects were in the discussion phase, and formal revisions to our affordable housing codes had not yet taken place. Revenues of over $253,000 were
estimated, but only $54,400 was appropriated in the Final Budget. Instead, the Commission
expressed the desire to make budget amendments during the year, on a project by project basis.
On October 5, 2015, the City Commission authorized Reach, Incorporated’s request for the use of Community Housing funds for financial support of the impact fees related to the construction
of six (6) affordable rental units serving 10 residents at or below 30% AMI (Area Median
Income) on property located on the southwest corner of Durston Road and Greenway Avenue.
We released funds to Reach, Inc. at the end of April.
The attached resolution makes the necessary budget amendment for the payment related to this
project.
UNRESOLVED ISSUES: None.
ALTERNATIVES: None.
FISCAL EFFECTS: Appropriations will be increased by $32,000, and ending balance will
decrease by $32,000 in FY2016.
228
Page 2 of 2
Community Housing Fund Appropriations – Reach, Inc Rental Project $32,000
Total Additional Appropriations $32,000
Summary of the financial effects of this amendment on the FY16 Budget and ending balance in
the Community Housing Fund:
Estimated Beginning
FY16
FY16 Estimated
Revenues
FY16 Amended
Appropriations
FY16 Amended Ending
Balance
$21,858 $253,508 $86,400 $188,966
Attachments: Resolution No. 4692
Report compiled on: 6-7-2016
229
- 1 -
NOTICE OF PUBLIC HEARING FOR BUDGET AMENDMENT
NOTICE IS HEREBY GIVEN that, pursuant to the provisions of Section 7-6-4021, Montana
Code Annotated, the City Commission of the City of Bozeman, Montana will conduct a public
hearing on amending the municipal budget for Fiscal Year 2015-2016, embodied in
Commission Resolution No. 4692, at 6:00 pm on Monday, June 13, 2016, at City Hall, 121 N. Rouse Avenue, Bozeman, Montana.
THE COMMISSION WILL CONSIDER AMENDING THE CITY’S ANNUAL BUDGET TO
INCLUDE AN ADDITIONAL $32,000 FROM THE COMMUNITY HOUSING FUND FOR
REACH, INC HOUSING PROJECT.
Copies of Commission Resolution No 4692 are on file in the office of the City Clerk, City Hall,
121 N. Rouse Avenue, and may be examined by all interested citizens.
Any and all interested persons are invited to attend the public hearing and to submit testimony in support or in opposition to the proposed budget amendment or to submit written testimony
prior to or during the public hearing. Written testimony can be submitted to the City Clerk,
rcrough@bozeman.net, PO Box 1230, Bozeman, Montana 59771.
If you have a disability that requires assistance, please contact the City of Bozeman’s ADA Coordinator, Chuck Winn, cwinn@bozeman.net, at 582-2307 (TDD 582-2301). If you have
questions about the budget proposal, please contact Administrative Services Director Anna
Rosenberry, arosenberry@bozeman.net at 582-2325.
Dated this 31st day of May, 2016
__________________________________
Robin Crough, City Clerk
Legal Ad
Publish: Sunday, June 5, 2016
Sunday, June 12, 2016
230
- 2 -
COMMISSION RESOLUTION NO. 4692
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZEMAN, MONTANA, AMENDING FISCAL YEAR 2016 (FY16) ANNUAL BUDGET TO INCLUDE ADDITIONAL
APPROPRIATIONS OF $32,000 FROM THE COMMUNITY HOUSING FUND FOR REACH,
INC HOUSING PROJECT.
WHEREAS, the City Commission did, on the 23rd day of June, 2015, after due and proper
legal notice conduct a public hearing on and adopt Resolution No. 4602 - A RESOLUTION OF THE
CITY COMMISSION OF THE CITY OF BOZEMAN, MONTANA, APPROPRIATING FUNDS FOR
VARIOUS BUDGET UNITS, AND FURTHER ESTIMATING REVENUE NECESSARY TO
OPERATE AND MAINTAIN SERVICES OF MUNICIPAL GOVERNMENT FOR THE FISCAL
YEAR ENDING JUNE 30, 2016; and
WHEREAS, On October 5, 2015, the City Commission authorized Reach, Incorporated’s
request for the use of Community Housing funds for financial support of the impact fees related to the
construction of six (6) affordable rental units serving 10 residents at or below 30% AMI (Area Median
Income) on property located on the southwest corner of Durston Road and Greenway Avenue; and
WHEREAS, the City Commission did, on the 13 day of June, 2016, after due and proper legal
notice, conduct a public hearing on the proposed budget amendments.
NOW, THEREFORE, BE IT RESOLVED by the City Commission of the City of Bozeman,
Montana, that:
231
- 3 -
Section 1 – Appropriation Additions
The City Commission of the City of Bozeman, Montana, does hereby authorize additional
expenditures within the Community Housing Fund in Fiscal Year 2016 in the following amounts:
Community Housing Fund - 121:
Reach, Inc Housing Project $ 32,000
GRAND TOTAL – Additional Appropriations $ 32,000
Section 2 – Use of Fund Reserves The increased appropriations shall be funded from un-used cash reserves in the Community Housing
Fund. Estimated Beginning and Ending Reserves estimates are as follows:
Estimated Beginning
FY16
FY16 Estimated
Revenues
FY16 Amended
Appropriations
FY16 Amended Ending
Balance
$21,858 $253,508 $86,400 $188,966
Section 3
Pursuant to Section 7-6-4030, M.C.A., this resolution, upon its passage, shall be in full force
and effect on July 1, 2015.
Section 4
That should it be found by any court of competent jurisdiction that any section, clause, portion,
sentence, word, or phrase of this resolution is deemed to be contrary to any existing law or regulations,
that in this instance, it is the intent of the City Commission of the City of Bozeman, Montana, that all
other portions, sections, words, clauses, phrases, or paragraphs of this document shall remain in full
force and effect.
232
- 4 -
PASSED AND APPROVED by the City Commission of the City of Bozeman, Montana, at a
regular session thereof held on the 13th day of June, 2016.
________________________________________ CARSON TAYLOR Mayor
ATTEST:
_____________________________________
ROBIN CROUGH
City Clerk
APPROVED AS TO FORM:
________________________________________
GREG SULLIVAN
City Attorney
233