HomeMy WebLinkAboutG.2.2 - Memo Boulevards
Community Housing Advisory Board Memorandum
REPORT TO: Chair Thane and Board Members
FROM: Martin Matsen, Director of Community Development
SUBJECT: Request from HRDC for $500,000 for the acquisition, preservation and rehabilitation of the Boulevard Apartments located at 6 W. Babcock St.
MEETING DATE: December 11, 2019
AGENDA ITEM TYPE: Action RECOMMENDATION: It is the recommendation of staff that the request should be funded
at some level less than the full $500,000. The completion and approval of a grant agreement will
be needed before presentation to the City Commission. SUGGESTED MOTION: Having reviewed and discussed the funding request from HRDC, I move to recommend City Commission approval of an amount not to exceed (insert amount
here).
ALTERNATIVES: 1. Approve the proposed motion 2. Approve the proposed motion with modifications as specified by the Board
3. Other action as determined appropriate by the Board
FISCAL EFFECTS: The fiscal year 2020 budgeted fund balance after all proposed and recommended funding and expenditures remains at over $900,000. Fully funding this request would leave the fund with $401,670.
ATTACHMENTS: - HRDC request letter