Submitted By: James Haynes
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Presentation By: James Haynes
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Department: Community Development Services
STAFF RECOMMENDATION (Motion Ready):
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Adopt Budget Resolution 2025-127 amending the Fiscal Year 2024-25 budget to accept and appropriate funding for the City of Ocala's Home Investment Partnership Program in the amount of $256,344
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OCALA'S RELEVANT STRATEGIC GOALS:
Fiscally Sustainable, Quality of Place
PROOF OF PUBLICATION:
N/A
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BACKGROUND:
The City of Ocala is a participating jurisdiction with Marion County as a Marion County HOME Consortium member. It receives an annual allocation of HOME Investment Partnership Program (HOME) funds to be used for creating and sustaining affordable housing units, assisting first-time home buyers, and other eligible housing activities to assist low- to moderate-income households in the City of Ocala. The funds are governed by the U.S. Housing and Urban Development guidelines, including encumbrance and expenditure deadlines.
FINDINGS AND CONCLUSIONS:
An award letter from the Marion County Board of County Commissioners acknowledging the City's funding of $256,344 for Fiscal Year 2024-25 was received on December 26, 2024. This award should be expended by September 30, 2026.
FISCAL IMPACT:
SOURCE:
001-331-000-000-09-33152 HOME Grant $256,344
USE:
001-050-500-554-55-12020 Admin Salaries & Wages $ 14,906
001-050-500-554-55-21010 Admin FICA $ 1,262
001-050-500-554-55-22012 Admin Retirement $ 1,320
001-050-500-554-55-23010 Admin Health & Life Insurance $ 1,500
001-050-501-554-55-34010 Other Services-Rehabilitation $237,356
Total $256,344
PROCUREMENT REVIEW:
N/A
LEGAL REVIEW:
N/A
ALTERNATIVE:
* Adopt with Changes
* Table
* Deny
BUDGET RESOLUTION 2025-127
A RESOLUTION AMENDING THE FISCAL YEAR 2024-25 BUDGET TO ACCEPT AND APPROPRIATE FUNDING FOR THE CITY OF OCALA'S HOME PROGRAM IN THE AMOUNT OF $256,344
WHEREAS, the 2024-2025 HOME award lette...
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