HomeMy WebLinkAboutMINUTES - 04251995 - 1.48 Contra
r' TO: REDEVELOPMENT AGENCY .� _ Costa
FROM: Phil Batchelorv"unt
C u� J
Executive Director
DATE : April 25, 1995
SUBJECT: Appropriation Adjustment - N. Richmond Low and Moderate Income Housing
Account
SPECIFIC REQUEST (S) OR RECOMMENDATIONS (S) & BACKGROUND AND JUSTIFICATION
RECOMMENDATIONS
APPROVE appropriation adjustment to the N. Richmond Low and Moderate
Income Housing Account, providing for additional funds for the N.
Richmond Senior Housing project .
FISCAL IMPACT
None . No General Fund or Redevelopment Agency funds are directly
involved.
BACKGROUND/REASONS FOR RECOMMENDATIONS
The Redevelopment Agency is working with Community Housing Development,
Corporation. of North Richmond and Eden Housing to develop a senior
housing project in N. Richmond. The project is currently in the site
assemblage stage. The two non-profit sponsors had secured Community
Development Block Grant and HOME funds from the County of Contra
Costa. The non-profits sponsors were not in a position to acqu. e and
CONTINUED ON ATTACHMENT: XX YES SIGNATURE : ���% `7
RECOMMENDATION OF EXECUTIVE DIRECTOR RECOMMEN ATION OF A ENCY COMMI EE
APPROVE OTHER «.__
SIGNATURE (S) :
ACTION OF AGENCY ON APPROVED AS RECOMMENDED OTHER
VOTE OF COMMISSIONERS
I HEREBY CERTIFY THAT THIS IS A
UNANIMOUS (ABSENT ) TRUE AND CORRECT COPY OF AN
AYES: NOES: ACTION TAKEN AND ENTERED ON THE
ABSENT: ABSTAIN: MINUTES OF THE REDEVELOPMENT
AGENCY ON THE DATE SHOWN.
Contact: Jim Kennedy N
646-4076 ATTESTED 4eiR; 25^1 )q,?Y
cc: County Administrator PHIL BATCHELOR
County Counsel 4GENCY SECRETARY
Auditor-Controller
Public Works - Real Property
Public Works - Accounting BPU
CHDC
Eden Housing
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hold property in advance of construction. Therefore, pursuant to
a Disposition and Development Agreement between the Agency and the
two non-profit sponsors, the Redevelopment Agency has stepped in to
acquire, hold and ultimately dispose of the properties for the
senior housing project. The Agency is utilizing $588, 000 of CDBG
and HOME funds for this site assemblage activity. These funds were
not included in the Agency' s adopted budget as it was not
contemplated that the Agency would be the acquiring entity at the
time the budget was adopted. An appropriation adjustment is
necessary to conclude this activity.
AUDITOR-CONTROLLER USE ONLY
CONTRA COSTA COUNTY j FINAL APPROVAL NEEDED BY
APPROPRIATION ADJUSTMEN Aj REDEVELOPMENT AGENCY
T/C 27
COUNTY ADMINISTRATOR
BUDGET UNIT: 7885 North Richmond Low/Mod Housing
ACCOUNT CODING
ORGANIZATION EXPENDITURE EXPENDITURE ACCOUNT DESCRIPTIO <DECREASE> INCREASE
SUB-ACCOUNT
7885 3540 Right of Way & Easements ( 588,000 00
I �
7885 6301 Reserve for Contingencies 588,000 100
7885 6301 Appropriable New Revenue I 588,000 100
� I
I
TOTALS 588,000 100 1,176,000 100
APPROVED EXPLANATION OF REQUEST
A DITOR-CONTROLLER
Additional Federal Revenue available for purchase
Date X13-9.1- of property.
COUNTY ADMINISTRATOR Net County Cost of Zero.
By: dA" E-P,— Date 7 /3
REDEVELOPMENT AGENCY
YES: Sfti*%Ah )"I o,-jc.rs,
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NO: ND I'VE:
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a�+c{ ej 9 $�r��,� ` SIG ATURE TITLE DATE
y' y as=J�� A ROPRIATION APOO
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J.JOURNAL NO.
(M129 Rev 2/86) SEE INSTRUCTIONS ON REVERSE SIDE
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CONTRA COSTA COUNTY
ESTIMATED REVENUE ADJUSTMENT
T/C 24
BUDGET UNIT: 7885 North Richmonth Low/mod Housing
ACCOUNT CODING
ORGANIZATION REVENUE REVENUE DESCRIPTION INCREASE I <DECREASE>
ACCOUNT
7885 9560 Fed Aid HUD Block Grants 288,000 00
7885 9569 Other Federal Aid 300,000 00
� I �
� I �
TOTALS 588,000 00 0 00
APPROVED EXPLANATION OF REQUEST
AUDITOR-CONTROLLER
Additional Federal revenues available for purchase of propert;
_Date y/-A5
Net County Cost of Zero.
COUNTY ADMINISTRATOR
By: Dater /3
REDEVELOPMENT AGENCY
YES6rAYA ssionLri: IRCILYS
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NO: NPhF- r
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By to y ret �/'�" REVENUE ADJ. RA00 519 7
JOURNAL NO.
(M8134 Rev 2/86) f
E:\DATA\XL\APPROP\R7885-1.XLS