Title
Ordinance in the Amount of $100,000 Amending FY 16-17 Nussbaum Fund Budget
Body
Department: Neighborhood Development
Council District: Primarily 1 and 2
Public Hearing: No
Advertising Date/By:
Contact 1 and Phone: Barbara Harris, 373-2509
Contact 2 and Phone: Cynthia Blue, 433-7376
PURPOSE:
City Council consideration is requested for a budget ordinance appropriating $100,000 from the Nussbaum Housing Partnership fund balance for affordable housing programs.
BACKGROUND:
The Neighborhood Development Department’s budget as proposed to City Council in May 2016 included the use of Nussbaum Housing Partnership funds from the tax levy for fiscal year 2016-2017 affordable housing programs. The additional Nussbaum funds from program income and re-programmed fund sources will support:
• Homebuyer education for first time homebuyers
• Training programs for tenants and rental property owners with a focus on maintaining safe and healthy homes
• Assistance for homeowner repairs
• Asset management for foreclosure activities
BUDGET IMPACT:
$100,000 will be appropriated from Nussbaum Housing Partnership fund balance as per the attached ordinance. Budget adjustments will be necessary to move funding to the appropriate accounts.
RECOMMENDATION / ACTION REQUESTED:
City Council is requested to approve the budget ordinance amending the FY 16-17 Nussbaum Fund Budget and associated budget adjustments.