CARVER HEIGHTS/MONTCLAIR AREA

COMMUNITY REDEVELOPMENT AGENCY

AGENDA MEMORANDUM

Meeting Date:           September 13, 2010

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

                                    Jerry Boop, Finance Director, CPA, CGFO   

Subject:                      Resolutions Amending the Budget for Fiscal Year 2009-10 and Adopting the Budget for Fiscal Year 2010-11 for the Carver Heights/ Montclair Area Community Redevelopment Agency

Staff Recommendation:

Staff recommends approval of the amended budget for fiscal year 2009-10 and the budget for fiscal year 2010-11 for the Carver Heights/ Montclair Area Community Redevelopment Agency.

Analysis:

As seen in Attachment A, Fiscal Analysis for the four year period ending August 31, 2010 there will be approximately $1,440,275 available that can be carried forward and spent in fiscal year 2010-11.  As shown in Attachment B, the total funding appropriation proposed for the Carver Heights/ Montclair Area CRA for fiscal year 2010-11 is $291,092.  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 2009-10 and the budget for fiscal year 2010-11 for the Carver Heights/ Montclair Area Community Redevelopment Agency;

2.  Such other action directed by CRA

Fiscal Impact: 

A budget is necessary to appropriate funds.

Submission Date and Time:    9/10/2010 5:39 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. _________JB_______                                    Deputy C.M. ___________________                                          Submitted by: City Manager ___________________

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