CC Resolution 11901RESOLUTION NO. tt9nt
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CAMPBELL
APPROVING A BUDGET ADJUSTMENT TO REAPPROPRIATE FUNDS
FROM FY201412015 TO FY2015/2016 FOR AONE-TIME REVOCABLE
GRANT OF $84,577 TO CAMPBELL SENIOR HOMES LLC
WHEREAS, the City's General Plan Housing Element has a goal of preserving the
City's affordable housing stock, supporting special needs groups such as low-income
senior citizens, and preventing homelessness; and
WHEREAS, the budget adjustment for the revocable grant will help to preserve the
long-term affordability and maintenance of the three homes in the City's affordable
housing stock to benefit very low income seniors, 62 years of age and older; and
WHEREAS, the one-time revocable grant was approved on June 23, 2015 for fiscal
year 2014-2015 but was not distributed during the fiscal year due to the late timeframe
of the meeting.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Campbell
hereby approves the $84,577 revocable grant from the City of Campbell Housing
Assistance Fund to cover 100% of the initial costs associated with the transfer of the
three homes, and approves the attached budget adjustment.
PASSED AND ADOPTED this 20th day of October, 2015 by the following roll call
vote:
AYES: Councilmembers: Gibbons, Rvanikoff, Kotowski, Baker, Cristina
NOES: Councilmembers: None
ABSENT: Councilmembers: None
AP
Jeffrey R. (~1'sf~a, Mayor
ATTEST:
Wendy ood, ity Clerk