HomeMy WebLinkAboutResolution 4692 Amending FY16 Budget to Include Additional Appropriations for Reach, Inc. Housing ProjectCOMMISSION 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 comer of Durston Road and Greenway A venue; 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: Section 1 -Appropriation Additions The City Commission of the City of Bozeman, Montana, does hereby authorize additional Page I of3
Resolution No. 4692, Amending FYJ 6 Annual Budget to include Addition Appropriations for Reach, inc. Housing Project 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 TOT AL -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 FYI 6 Estimated FY16 Amended FY16 Amended Ending FY16 Revenues Appropriations 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, pmiion, 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 po1iions, sections, words, clauses, phrases, or paragraphs of this document shall remain in full force and effect. PASSED AND APPROVED by the City Commission of the City of Bozeman, Montana, at a Page 2 of3
Resolution No. 4692, Amending FYI 6 Annual Budget to Include Addition Appropriations for Reach, Inc. Housing Project regular session thereof held on the 13th day of June, 2016. CARSON TAYLOR ~ Mayor ATTEST: ROBIN CROUG "; :, -r:::..,_::·-~;: •. 'i. · .. City Clerk '~ ; •• j;;Jitl); '., 7,, •• \ 383 •• :'-"'.· . './ . . . ..., .... -' <..,1 "h • • ' • \ V .. . ' .. ' !_\' CO· ~ ... Page 3 of3