CARVER HEIGHTS/MONTCLAIR AREA

COMMUNITY REDEVELOPMENT AGENCY

3C.

AGENDA MEMORANDUM

Meeting Date: September 14, 2009

From:                          Kenneth L. Thomas, Director of Housing & Economic Development

                                    Jerry Boop, Finance Director, CPA, CGFO   

Subject:                      Resolutions Amending the Budget for Fiscal Year 2008-09 and Adopting the Budget for Fiscal Year 2009-10 for the Carver Heights/Montclair Area Community Redevelopment Agency

Staff Recommendation:

Staff recommends approval of the amended budget for fiscal year 2008-09 and the budget for the fiscal year 2009-10 for the Carver Heights/ Montclair Area Community Redevelopment Agency.

Analysis:

As seen in Attachment A, Fiscal Analysis for the four year period ending July 31, 2009, there will be approximately $1,500,000 available that can be carried forward and spent in fiscal year 2009-10.  As shown in Attachment B, the total Funding appropriation proposed for the Carver Heights/Montclair Area CRA for fiscal year 2009-10 is $292,051.  The projects planned for the fiscal year are as follows:

• Develop Senior Housing
• Develop infrastructure and pedestrian support (sidewalk) facilities
• Commercial and single home development
• Develop gateways into the community
• Improve infrastructure

Options:

1. Approve the amended budget for fiscal year 2008-09 and the budget for fiscal year 2009- 10 for the Carver Heights/Montclair Area Community Redevelopment Agency; or

2.  Such other action directed by CRA

Fiscal Impact: 

A budget is necessary to appropriate funds.

Submission Date and Time:    9/11/2009 12:04 PM____

Department: ______________________ Prepared by:  ______________________                      Attachments:         Yes____   No ______ Advertised:   ____Not Required ______ Dates:   __________________________                      Attorney Review :       Yes___  No ____ _________________________________            Revised 6/10/04

Reviewed by: Dept. Head ________ Finance  Dept. __________________                                    Deputy C.M. ___________________                                          Submitted by: City Manager ___________________

Account No. _________________ Project No. ___________________ WF No. ______________________ Budget  ______________________ Available _____________________