Submitted By: James Haynes
presenter
Presentation By: James Haynes
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Department: Community Development Services
STAFF RECOMMENDATION (Motion Ready):
title
Adopt Budget Resolution 2025-113 amending the Fiscal Year 2024-25 budget to accept and appropriate 2024-25 State Housing Initiatives Partnership Program grant funding in the amount of $200,832
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OCALA'S RELEVANT STRATEGIC GOALS:
Operational Excellence, Fiscally Sustainable
PROOF OF PUBLICATION:
N/A
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BACKGROUND:
The State Housing Initiatives Partnership (SHIP) Program funds local governments to incentivize the creation of partnerships that produce and preserve affordable homeownership and multifamily housing. The program was designed to serve extremely low, very low, low, and moderate-income families.
FINDINGS AND CONCLUSIONS:
The SHIP program has appropriated $174,000,000 for the state's 2024-25 Fiscal Year, which runs from July 1, 2024, to June 30, 2025. The City of Ocala has been awarded $502,079. The state has approved the disbursement of the first payment to the City in the amount of $77,249 and the second payment in the amount of $123,583.
FISCAL IMPACT:
Source:
140-334-000-000-09-33485 SHIP/Dept of Comm Af $200,832
Use:
140-050-699-559-55-34010 Other Services $200,832
PROCUREMENT REVIEW:
N/A
LEGAL REVIEW:
N/A
ALTERNATIVE:
* Adopt with Changes
* Table
* Deny
BUDGET RESOLUTION 2025-113
A RESOLUTION AMENDING THE FISCAL YEAR 2024-25 BUDGET TO ACCEPT AND APPROPRIATE 2024-25 STATE HOUSING INITIATIVES PARTNERSHIP (SHIP) FUNDING IN THE AMOUNT OF $200,832
WHEREAS, the State Housing Initiatives Program (SHIP) provides funds to local governments as an incentive to create partnerships that produce and preserve affordable homeownership and multifamily housing and is designed to serve extremely low, very low, low, and moderate-income families; and
WHEREAS, the SHIP program has been appropriated $174,000,000 for the state's 2024-25 Fiscal Year that runs from July 1, 2024, to ...
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