2006/08/09 Council Agenda Packet

• EVERETT CITY COUNCIL AGENDA ITEM COVER SHEET PROJECT TITLE: Consent COUNCIL BILL # Resolution to allocate $65,633.00 in x Action Originating Department Planning 2060 Housing Trust funding to First Reading Contact Person Dave Koenig Housing Hope and $65,633.00 in Second Reading Phone Number 257-8736 HOME funds to the Everett Housing Third Reading FOR AGENDA OF August 9, 2006 Authority switching the funding Public Hearing sources for the two agencies Initialed by: Department Head CAA Council President yf Location Preceding Action Attachments Department(s) Approval Letter from Housing Planning and Community Hope, Resolution Development Council approval of this agenda item authorizes a budget revision in the additional amount requested. Expenditure Required $ -0- Account Number(s): Amount Budgeted $ -0- Additional Required. $ -0- DETAILED SUMMARY STATEMENT: Housing Hope has requested that $65,633.00 in HOME funding provided to them be changed to 2060 Housing Trust Fund dollars. Housing Hope was allocated HOME funds for the New Century Village project. HOME dollars are federal funds which have different regulations than the 2060 Housing Trust Fund dollars which must comply with State rules. The Everett Housing Authority has agreed to this change of source of funds. The Everett Housing Authority was allocated these funds to help purchase existing housing units in Everett. This change will help Housing Hope in their administration of the New Century Village project. RECOMMENDATION (Exact action requested of Council): Adopt the Resolution to allocate $65,633.00 in 2060 Housing Trust funding to Housing Hope and $65,633.00 in HOME funds to the Everett Housing Authority switching the funding sources for the two agencies. 4