To: Board of Supervisors
From: Planning and Building Department
Agenda Section: Consent
Vote Requirement: 4/5th
SUBJECT:
title
Supplemental Budget in the Amount of $14,000 for Administration of the Calhome Program for Fiscal Year 2024-25(4/5 Vote Required)
end
RECOMMENDATION(S):
Recommendation
That the Board of Supervisors:
1. Approve the supplemental budget for the CalHome Program Income, budget unit 1100282301 (4/5 Vote Required).
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STRATEGIC PLAN:
This action supports the following areas of your Board's Strategic Plan.
Area of Focus: Housing for All
Strategic Plan Category: 4002 - Increase and prioritize housing development
DISCUSSION:
The Board of Supervisors is being asked to approve a supplemental budget to allow additional grant income to be allocated to this year's budget associated with the work the department has already accomplished that is an eligible expense under the CalHome grant.
The CalHome grant provides funding for the owner-occupied rehabilitation and accessory dwelling unit loan program. The cost to administer the loans is factored into and covered by the grant. The grant allows for up to 20% activity delivery fees per loan ($20,000 maximum) to come out of the current grant (1100282302) and up to 5% for general administration to come out of the program income (1100282301). The distinction of which budget unit should be charged for activity delivery versus general administration was misunderstood during budget development. Therefore, a supplemental budget is needed to increase the salaries for general administration in the program income.
The Housing division was able to process more loans than anticipated during the first half of FY 2024-25 which resulted in an overage of the budgeted amount for operating and office expenses related to the program. A supplemental budget is needed to account for a small overage in what was spent on office supplies.
SOURCE OF FUNDING:
The source of funding will be from CalHome...
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