HomeMy WebLinkAbout09534RESOLUTION NO. 9534
A RESOLUTION ESTABLISHING THE REPAYMENT
PERIOD FOR FUNDS PROVIDED BY THE CITY OF PUEBLO
TO THE PUEBLO HOUSING AUTHORITY FOR COSTS
ASSOCIATED WITH THE RENOVATION OF BUILDINGS
LOCATED ON THE 200 BLOCK OF NORTH SANTA FE
AVENUE
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1.
Funds in the amount of $100,000 that have been previously disbursed to the Pueblo
Housing Authority for costs associated with the renovation of the buildings located on the 200
block of North Santa Fe Avenue shall be reimbursed to the City of Pueblo by the Pueblo
Housing Authority no later than April 30, 2002.
INTRODUCED: February 25, 2002
BY: Al 6u n i 1 a
COUNCIL PERSON
APPROVED:
PRESIDENT OF CITY COUNCIL
ATTESTED BY:
Y CLERK
LD �
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Background Paper for Proposed
RESOLUTION
AGENDA ITEM #
DATE: FEBRUARY 25, 2002
DEPARTMENT: CITY MANAGER'S OFFICE
LEE R. EVETT, CITY MANAGER
DAVID J. GALLI, DEPUTY CITY MANAGER
TITLE
A RESOLUTION ESTABLISHING THE REPAYMENT PERIOD FOR FUNDS
PROVIDED BY THE CITY OF PUEBLO TO THE PUEBLO HOUSING AUTHORITY
FOR COSTS ASSOCIATED WITH THE RENOVATION OF BUILDINGS LOCATED
ON THE 200 BLOCK OF NORTH SANTA FE AVENUE
ISSUE
The City of Pueblo appropriated $100,000 to the Pueblo Housing Authority for costs
associated with the renovation of the buildings on the 200 block of North Santa Fe
Avenue. These costs included such items as the tax credit application, pest control and
clean up, appraisal fee, consultants fee, title insurance, and phase one environmental
study. The Housing Authority's commitment to the City was that the funds would be
repaid by the end of the first quarter of 2002.
The Housing Authority has asked for some additional time in which to reimburse the City
the $100,000. This resolution will extend that time by 30 days to April 30, 2002.
RECOMMENDATION
Approval
FINANCIAL IMPACT
Financial impact is minimal, limited to the loss of investment income of the $100,000 for
the additional 30 -day period.