Submitted By: James Haynes
presenter
Presentation By: James Haynes
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Department: Community Development Services
STAFF RECOMMENDATION (Motion Ready):
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Adopt Budget Resolution 2025-144 amending the Fiscal Year 2024-25 budget to accept and appropriate program income for the City of Ocala’s State Housing Initiative Program grant in the amount of $19,846
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OCALA’S RELEVANT STRATEGIC GOALS:
Fiscally Sustainable, Operational Excellence
PROOF OF PUBLICATION:
N/A
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BACKGROUND:
On January 28, 2019, the Revitalization Strategies Division, now known as Community Programs, finalized a down payment assistance contract for Edgardo Cosme Velez, Jr., an extremely low-income household whose real property is located at 3437 E Fort King St, Ocala, Florida. The project was completed using the State Housing Initiative Program (SHIP) grant funding. The amount of the deferred mortgage was $19,846.
FINDINGS AND CONCLUSIONS:
On February 19, 2025, Community Programs was contacted concerning the Velez deferred mortgage payout amount. On March 31, 2025, Community Programs received a check for the balance of the deferred mortgage in the amount of $19,846. Staff recommends receiving this amount via the proposed budget resolution and adding it to the Fiscal Year 2024-25 SHIP budget to further assist low-income families with approved housing rehabilitation activities.
FISCAL IMPACT:
The $19,846 will be received in revenue account 140-369-000-000-16-36943 and expended in account 140-050-699-559-55-34010.
PROCUREMENT REVIEW:
N/A
LEGAL REVIEW:
N/A
ALTERNATIVE:
• Adopt with Changes
• Table
• Deny
BUDGET RESOLUTION 2025-144
A RESOLUTION AMENDING THE FISCAL YEAR 2024-25 BUDGET TO ACCEPT AND APPROPRIATE PROGRAM INCOME FOR THE CITY OF OCALA’S STATE HOUSING INIATIVE PROGRAM (SHIP) GRANT IN THE AMOUNT OF $19,846
WHEREAS, the City of Ocala receives an annual allotment of SHIP funding to further the access of affordable housing, retain affordable housing stock, and assist first-time home buyers; and
WHEREAS, on January 28, 2019, the Revitalization Strategies Division, now known as Community Programs, finalized a down payment assistance contract for Edgardo Cosme Velez, Jr., an extremely low-income household whose real property is located at 3437 E Fort King St, Ocala, Florida; and
WHEREAS, on February 19, 2025, Community Programs was contacted concerning the payout amount of the Velez deferred mortgage; and
WHEREAS, on March 31, 2025, Community Programs received a check for the balance of the deferred mortgage in the amount of $19,846.
NOW THEREFORE, BE IT RESOLVED THAT THE CITY COUNCIL OF THE CITY OF OCALA, FLORIDA, duly assembled in regular session, that the Fiscal Year 2024-25 budget be amended to appropriate $19,846 to carry out activities as outlined below.
SOURCE:
140-369-000-000-16-36943 Misc-Program Income-Principal $19,846
USE:
140-050-699-559-55-34010 Other Services $19,846
This resolution adopted this 15th day of April 2025.
ATTEST: CITY OF OCALA
By: By:
Angel B. Jacobs Kristen M. Dreyer
City Clerk President, Ocala City Council
Approved as to form and legality:
By: _________________________________
William E. Sexton
City Attorney
Reviewed for accounting accuracy & completeness:
By: _________________________________
Peter A. Lee
City Manager