Submitted By: James Haynes
presenter
Presentation By: James Haynes
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Department: Community Development Services
FORMAL TITLE:
title
Budget Resolution 2026-120 to amend the Fiscal Year 2025-2026 budget to accept and appropriate program income for the City of Ocala’s State Housing Initiative Program grant in the amount of $1,152
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OCALA’S RELEVANT STRATEGIC GOALS:
Fiscally Sustainable
PROOF OF PUBLICATION:
N/A
body
BACKGROUND:
On June 3, 2015, the Revitalization Strategies Division, now known as Community Programs, finalized a rebuild contract and a deferred mortgage with Cassandra Thornton, a low-income household, whose real property is located at 916 NW Fourth St., Ocala, Florida. The project was completed using funding from the State Housing Initiative Program (SHIP) grant and the Community Development Block Grant (CDBG). The amount of the deferred mortgage was $50,271.82.
FINDINGS AND CONCLUSIONS:
The City, as the mortgage holder, agreed to forgive $25,135.91, while the homeowner agreed to pay $25,135.91 over 20 years. Those payments were to be received by the City as program income and reinvested in the City’s housing rehabilitation program to assist other citizens. The Fiscal Year 2024-25 payments total $1,152. This budget resolution will allocate that amount to the Fiscal Year 2025-26 budget for housing rehabilitation. Staff recommends approval.
FISCAL IMPACT:
Source:
140-369-000-000-16-36943 $1,152
Use:
140-050-699-559-55-34010 $1,152
PROCUREMENT REVIEW:
N/A
LEGAL REVIEW:
N/A
ALTERNATIVE:
• Approve with Changes
• Table
• Deny
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BUDGET RESOLUTION 2026-120
A RESOLUTION TO AMEND THE FISCAL YEAR 2025-26 BUDGET TO ACCEPT AND APPROPRIATE PROGRAM INCOME FOR THE CITY OF OCALA’S STATE HOUSING INIATIVE PROGRAM GRANT IN THE AMOUNT OF $1,152
WHEREAS, the City of Ocala receives an annual allotment of State Housing Initiative Program funding to further the access to affordable housing, retain affordable housing stock, and assist first-time home buyers; and
WHEREAS, on June 3, 2015, the Revitalization Strategies Division, now known as Community Programs, finalized a rebuild contract and deferred mortgage with Cassandra Thornton whose real property is located at 916 NW 4th St., Ocala, FL.; and
WHEREAS, the homeowner agreed to pay $25,135.91 over a 20 year period; and
WHEREAS, for Fiscal Year 2025-26, the payments totaled $1,152.
NOW THEREFORE, BE IT RESOLVED THAT THE CITY COUNCIL OF THE CITY OF OCALA, FLORIDA, duly assembled in regular session, that the Fiscal Year 2025-26 budget be amended to appropriate $1,152 to carry out activities as outlined below.
SOURCE:
140-369-000-000-16-36943 Misc-Program Income-Principal $1,152
USE:
140-050-699-559-55-34010 Other Services $1,152
This resolution adopted this 6th day of January 2026.
ATTEST: CITY OF OCALA
By: By:
Angel B. Jacobs Ire Bethea, Sr.
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