DISCLAIMER

 

06-0200R


RESOLUTION TRANSFERRING FUNDS IN THE AMOUNT OF $12,700 IN THE 2005 HUD COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG) PROGRAM.

BY COUNCILOR GILBERT:

     RESOLVED, that the proper city officials are authorized to make the following transfer of funds in the Federal Fund 262-020-5434, 2005 HUD-funded community development accounts as set forth below:

Project #

Project

Budget amount

New amount

Amount of
increase or
decrease

CD-05-PF04

CD street assistance

$75,000

$87,700

 $12,700

2220

Deferred revenue

$12,700

-0-

($12,700)


STATEMENT OF PURPOSE:  The deferred revenue is the proceeds from the sale of the box factory site. This transfer of funds was necessary due to the eligible population having higher than average assessments, meaning the eligible households had larger lot sizes than the average projected household.