CC Resolution 10725
RESOLUTION NO. 10725
REDEVELOPMENT AGENCY RESOLUTION NO. 2007-2
BEING A RESOLUTION OF THE CAMPBELL CITY COUNCIL AND REDEVELOPMENT
AGENCY BOARD AUTHORIZING A BUDGET ADJUSTMENT TRANSFERRING $40,000
IN RDA HOUSING FUNDS TO THE HOUSING REHABILITATION LOAN PROGRAM
WHEREAS, the City of Campbell has a successful housing rehabilitation loan program in
need of additional loan funds; and
WHEREAS, the Redevelopment Agency Board approved additional funds for the program
in the prior fiscal year; and
WHEREAS, the funds were not expended last fiscal year but a loan was approved and
funded in the current fiscal year.
NOW, THEREFORE, be it resolved that the City Council and Redevelopment Agency
Board does hereby authorize a budget adjustment transferring $40,000 from RDA housing
to the housing rehabilitation loan program.
PASSED AND ADOPTED at a regular meeting of the Campbell City
Council/Redevelopment Agency Board this 2nd day of January 2007, by the following vote:
AYES: COUNCIL/AGENCY MEMBERS:Kennedy, Hernandez, Low, Burr, Furtado
NOES: CONCIL/AGENCY MEMBERS: None
ABSENT: COUNCIL/AGENCY MEMBERS:None
ABSTAIN: COUNCIL/AGENCY MEMBERS: None
APPROVED ~
ATTEST:
tZ~,4L
Anne Bybee, City Clerk
Fund
Fund
,D.epartment/Program
City Manger's Office
AccoulltNumber '
AceountNumber
City of Campbell
Request for Budget Adjustments
Division
Redevelopment/Housing
Bud2et to be Reduced
'Description
Budget to be Increased
'])e~Sf:ip.ti~1l
208
553.7449 Rehab Loans
208
980.6899
Operating Transfer In
Beginning Fund Balance
Operating Transfer Out
REASON FOR REQUEST - BE SPECIFIC:
223
553.6090
T')'
~~J
0553.9899
Date
January 2, 2007
HCD Program
From RDA
RDA Housing Program
RDA Housing to HCD
Attacnment 2
Request No.
BA 07-09
~
Amount
Amount
40,000
40,000
40,000
40,000
In April 01'2006. the Redevelopment Agency Board approved $100,000 for rehabilitation loans, A $40.000 loan was
approved. but the funds were not expended until the current fiscal year. However, the $40,000 budget was not
trans ferred forward
I,-irk Hel11rIchs
Redevelopment Manager
FORM BA 7-9 Rehab Grant
Jesse TakahashI . ",)
Finance Direct~_-/
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,~-u:/
'Dal11e! RIch
City Manager
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12/13/20061057 AM
Attachment 2
City of Campbell
Request for Budget Adjustments
Oepartmell t/PJ2~~~_~__-,--,-,-,-,-j-' ~'-_'--'-'--''-~ _1)J:yiSio.~___-,..
. . . . . . . . .,
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. . ' ' - . . . ,.
------.--
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__ _________._____._.___ __._____u._
..... >Date
_n_~eCJuest No..
City Manager's Office
Redevelo.pmentlHo.using
I December 11, 2006
~~ 'l)lJ-oo.r
Budg:et to be Reduced
Fund iAcco.llotNinuber J. .... ...... . > Description> .... ..... . .... ..... . .i<Amounl
.______.._.. n_ ___-~---r--- _on. ------.,---.-.---------.
223 .0553.9899 . Affordable housing programs, including the 1st time homebuyer '
program, rehabilitation grants.
Fund<
223
. _. . .. .A5~~~t \'l~"''''tf6()~B,g>nmngFU~d ~m~" .... ..I)"""p(t~,,___.c..c".............". .=" .~.!.".Amoont -.... .
40,000
Budget $40,000
$
40,000
REASON FOR REQUEST - BE SPECIFIC:
In ~pril of2006. the Redevelopment Agency Board approved $100,000 for rehabilitation loans. A $40,000 loan was approved. but the funds
were not expended until the current tiscal year. However. the $40,000 was not transferred forward.
-- -~--- - -----------
Finance Director
,
_.---- -.
City Manager
- ... --' ..------ -..-...--'
Redevelopment Manager
I
11/13/2006