Broward County Commission Regular Meeting
Director's Name: Norman Foster
Department: Office of Management and Budget
Information
Requested Action
title
MOTION TO ADOPT budget Resolution No. 2021-056 within the Local Housing Assistance Trust Fund in the amount of $300,000 for the purpose of providing rental and mortgage assistance to residents effected by Coronavirus (COVID-19).
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Why Action is Necessary
Unanticipated revenue requires approval by the Broward County Board of County Commissioners ("Commission"). The state of Florida provided this additional funding on December 29th, 2020 which is allowed under the first amendment executed by the County Administrator that states "any additional funds will be disbursed in an amount to be determined by Florida Housing." Although there will not be a contract amendment, the County needs the additional budget authority to spend the unanticipated funds.
What Action Accomplishes
Provides one time funding for rental and mortgage assistance to residents.
Is this Action Goal Related
Yes
Previous Action Taken
Board Date 08/25/2020 (Item No. 61) and Board Date 12/15/2020 (Item No. 6).
Summary Explanation/Background
This action approves the $300,000 in additional funding provided for under the first amendment to agreement number 040-02020 (Exhibit 1) to allow for an additional funds to be budgeted within the Local Housing Assistance Trust Fund for the purposes of providing rental and mortgage assistance to residents effected by Coronavirus (COVID19). The term of the Contract began on August 07, 2020 and ends March 31, 2021.
Source of Additional Information
Ralph Stone, Director, Housing Finance and Community Redevelopment Division, 954-290-3491
Norman Foster, Director, OMB, 954-357-6346
Fiscal Impact
Fiscal Impact/Cost Summary
Provides an additional $300,000 to residents in need of rental and mortgage assistance that are impacted by Coronavirus. There is no County cash or in-kind match required for this A...
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