Fiscal Note
IZ Special Revenue Fund:
Incentive Payments
$26,000
CDBG Administrative Costs
$(26,000)
Community Development Block Grant:
Supplies
$(10,000)
Inter-Agency Billing to IZ Fund - Decr.
Total
$16,000
Levy Impact:
Title
SUBSTITUTE OPERATING BUDGET AMENDMENT # 12 - Inclusionary Zoning Special Revenue Fund / Community Development Block Grant; Community Development Block Grant, p. 20, 165
Body
Reallocate projected expenditures from the Inclusionary Zoning Special Revenue Fund to reflect the allocation guidelines contained in resolution #RES-05-0692 adopted in September of 2005. The primary impact of this reallocation is to reduce the amount available to the CDBG Office for administration of the IZ program by $26,000, from $75,000 to $49,000.
Reduce Supplies expense in the CDBG budget by $5,000 to partially offset the $26,000 loss of administrative cost reimbursement from the IZ Fund and add $5,000 to purchased services.