Broward County Commission Regular Meeting
Director's Name: Leonard Vialpando
Department: Public Works and Environmental Services
Division: Housing and Urban Planning Division
Information
Requested Action
title
MOTION TO ADOPT budget Resolution within the Broward County State Housing Initiatives Partnership ("SHIP") Program Local Housing Assistance Trust Fund ("Trust Fund") to appropriate, recognize, and implement unanticipated SHIP Program Income revenue in the amount of $1,028,649 generated during Fiscal Year 2024-2025, and to authorize the County Administrator to take any necessary administrative and budgetary actions to implement same.
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Why Action is Necessary
Board action is required to approve unanticipated revenue resolutions and to appropriate the unanticipated funds.
What Action Accomplishes
Approves budget Resolution within the Trust Fund recognizing, appropriating, and implementing unanticipated SHIP Program Income.
Goal Related Icon(s)
?County Commission
?Go Green
?MAP Broward
Previous Action Taken
None taken.
Summary Explanation/Background
THE PUBLIC WORKS AND ENVIRONMENTAL SERVICES DEPARTMENT AND THE HOUSING AND URBAN PLANNING DIVISION RECOMMEND APPROVAL OF THE ABOVE MOTION.
This item supports the Board's Goal of "ensuring residents have and affordable place to live by offering sustainable, compatible, innovative, accessible affordable housing options for all income levels, including integrated, permanent supportive housing and zoning that helps residents build equity."
The motion proposes the adoption of a budget Resolution to recognize unanticipated Program Income for Fiscal Year 2024-2025 totaling $1,028,649 under the State Housing Initiatives Partnership ("SHIP") Program ("Fiscal Year 25 Funds"). These funds are generated from the repayment of SHIP program second mortgage loans, early payoff of deferred loans by SHIP Program recipients, and interest earnings on the balance of funds in the bank and investments.
The Ho...
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