HomeMy WebLinkAboutCouncil Resolution 1400Resolution No. / 14 Q6
A RESOLUTION TO CLOSE THE HOUSING FUND AND
TRANSFER RECEIVABLES TO THE GENERAL FUND
RECITALS:
A. In February 2011, State of Oregon revisions to 24CFR, Part 570, required that the City's
Housing Fund community block grant program remaining cash on hand be disbursed as
a donation to a bona fide food bank/warehouse or as a sub -grant to an eligible non-
profit for housing rehabilitation.
B. City Council directed staff to make a donation of the remaining $40,925 cash balance to
the local Food & Friends food bank.
C. The budgeted balance of the Housing Fund revenues and expenditures is now zero.
D. $57,103 in outstanding unpaid loans shall be transferred to the General Fund for future
collection and disbursement there.
The City of Central Point resolves:
To close the Housing Fund and transfer outstanding receivables in the amount of $57,103 to
the General Fund.
Passed by the Council and signed by me in authentication of its passage this 12th day of June,
2014.
Mayor Hank Williams
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Infrastructure
Finance
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April 1, 2013
Bev Adams, Finance Director
City of Central Point
140 South Third Street
Central Point, Oregon 97502
RE: Program Income Reporting Complete for Project #H95021
Dear Ms. Adams:
Thank you for responding to our letter of November 20, 2012 regarding program income
reporting and expenditure requirements for the above referenced project.
We have received all of the necessary paperwork to officially close the file and no further
reporting is required. This letter signifies that the contract has been formally closed.
We appreciate your cooperation and look forward to working with you in the future. Should you
have any questions please contact me at (503) 986-0132 or Mary Baker at (541) 882-1340.
Sincerely.
ona acharias. ED
Program and Pol c" Coordinator
Infrastructure Finance Authority
775 Summer St NE, Suite 200 • Salem, OR 97301-1280
503-986-0123 • fax 503-581-5115 • TTY 800-735-2900 • v.Mna.orinfrastructure.org
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