Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Amending The Fiscal Year 2019 Operating Budget Of The Special Revenue Fund As Adopted And Approved By Resolution R-2018-301.
Body
Staff Recommends: Approval of attached Resolution.
Explanation:
On February 20, 2019, the City Commission passed and adopted Resolution R-2019-030 adopting Administrative Policies governing affordable housing programs funded pursuant to the Interlocal Agreement ("ILA") among Broward County, the City of Hollywood and the Hollywood Community Redevelopment Agency.
On April 17, 2019, the City Commission passed and adopted Resolution R-2019-095 amending the Administrative Policies to incorporate additional ILA programs.
Implementation of ILA programs requires a sufficient source of appropriated funds. The City has received $3,698,746.00 in funding from Broward County pursuant to the ILA and expects to receive an additional $6,132,790.00 from the County during Fiscal Year 2019, resulting in a grand total of $9,831,536.00 initially available for ILA programs.
The Fiscal Year 2019 Operating Budget of the City was adopted and approved by the City Commission pursuant to Resolution No. R-2018-301 at the Second Public Budget Hearing on September 26, 2018. To facilitate timely implementation of the ILA programs approved to date, staff recommends amending the Fiscal Year 2019 Operating Budget to incorporate a budget for these programs, as further described below and in Exhibit "1", which is attached to this item.
Owner-Occupied Housing Rehabilitation- $3,599,910.00
Single Family Rental Rehabilitation- $399,990.00
Multi-Family Rental Rehabilitation- $133,330.00
First-time Homebuyer Purchase Assistance- $1,399,965.00
Rent Assistance for Essential Employees- $233,327.50
Relocation Assistance for Employees of Target Industry Businesses- $99,997.50
Police Officer Next Door- $478,489.37
Work Skills Programs- $199,995.00
Infrastructure- $1,474,730.40
Other ILA Program...
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