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COMMUNITY AFFORDABLE HOUSING FUND
GRAND
2015 2016 2017 2018 2019 TOTALS
year-to-date 2012 - 2019
FUND BALANCE - BEGINNING 347,769$ 324,817$ 504,015$ 494,870$ 707,216$
PLUS: REVENUES
# mills levied 1.00 3.00 3.00 3.00 3.00
value of 1 mill 87,894$ 86,564$ 89,758$ 101,195$ 104,321$
Property Tax Revenues 88,470$ 257,191$ 260,687$ 302,781$ 179,100$ 1,213,964$
Loan repayments (P&I)9,796$ 9,751$ 10,167$ 9,751$ 6,801$ 61,266$
Fund Interest Income 2,958$ 3,452$ 4,401$ 6,377$ 6,480$ 31,774$
Big Box Fund transfer of housing portion 56,248$ -$ 56,248$
appreciation recapture - HRDC down pmt assist 10,000$ 20,000$ 10,000$ 40,000$
Kendeda Fund Grant needs assess + action plan 30$ -$ -$ 20,000$ 20,030$
Cash in lieu of Affordable Housing: West Winds -$ -$ -$ 117,467$ 117,467$
Transfer from General Fund: one-time settlement money -$ -$ -$ 166,188$ 166,188$
TOTAL REVENUES 157,472$ 280,423$ 275,255$ 338,909$ 506,035$ 1,706,936$ -
LESS: EXPENDITURES
HRDC Road To Home counseling & education (40,000)$ (40,000)$ (40,000)$ (40,000)$ -$ (280,000)$
Impact Fee Assist: GMD/Larkspur Commons/Homeword (200,000)$ -$ -$ (200,000)$
Impact Fee Assist: Lakes at Valley West (15,246)$ (26,572)$ (41,818)$
Youth Emergency Shelter Grant (30,000)$ (30,000)$
Affordable Housing Study - Werwath (24,500)$ (14,835)$ -$ -$ -$ (39,335)$
Rental Housing Survey - Open Window Consult.(5,671)$ (5,671)$
Housing Needs Assessment (18,706)$ (18,706)$
Public Notice - newspaper publishing (85)$ (85)$
down payment assistance: West Edge Condos (110,000)$ (110,000)$
down payment assistance: Lakes at Valley West (30,000)$ (50,000)$ (80,000)$
HRDC administer RLF, staff support (14,400)$ (14,400)$ (7,200)$ (7,200)$ (43,200)$
HRDC affordable housing assistance (3,000)$ (3,000)$
Reach Inc Group Home support (31,990)$ (31,990)$
misc - travel/training/supplies/telephone/advertising (167)$ (7,565)$ (1,102)$ (8,835)$
Affordable Housing Program Manager salary -$ (26,553)$ (29,943)$ (56,496)$
TOTAL EXPENDITURES (180,423)$ (101,225)$ (284,400)$ (126,564)$ (136,523)$ (949,135)$ -
NET CHANGE IN FUND BALANCE (22,952)$ 179,198$ (9,145)$ 212,345$ 369,512$ 757,801$
FUND BALANCE - ENDING 324,817$ 504,015$ 494,870$ 707,216$ 1,076,728$ 1,076,728$
preliminary fund balance from above 1,076,728$
ADD: ANTICIPATED REMAINING REVENUE:
Property Taxes 133,863$
Fund interest income & Loan repayments 219$
TOTAL ANTICIPATED REMAINING REVENUE:134,083$
LESS: BUDGETED EXPENDITURES NOT SPENT YET:
Affordable Housing Program Manager salary budget = $78,708 (48,765)$
misc - travel/training/supplies/telephone/advertising budget = $8,750 (7,648)$
HRDC administer RLF, staff support budget = $14,400 (7,200)$
HRDC Road To Home budget = $40,000 (40,000)$
Needs Assessment budget = $30,000 (11,294)$
Impact Fee or Down Payment Assistance budget = $200,000 (123,428)$
TOTAL BUDGETED EXPENDITURES REMAINING POSSIBLY TO BE SPENT:(238,335)$
* * ANTICIPATED FUND BALANCE AT YEAR-END per CITY BUDGET:972,476$
LESS: COMMITMENTS APPROVED BY CAHAB FOR RECOMMENDATION TO COMMISSION:
Willow Springs: 24 units @ $20,000 + $58,000 to offset PUD cost: 50% of $538,000 this year (269,000)$
Summit Housing: Timber Ridge Senior Living (25,000)$
GMD Tschache Lane over the course of 1 to 3 fiscal years as needed (500,000)$
TOTAL POTENTIAL REMAINING COMMITMENTS NOT YET PAID OUT IN CASH:(794,000)$
ENDING FUND BALANCE IF ALL CAHAB COMMITMENTS WERE APPROVED BY CITY COMMISSION AND PAID OUT IN FULL NOW 178,476$
Fiscal Year