CARVER HEIGHTS/MONTCLAIR AREA

COMMUNITY REDEVELOPMENT AGENCY

AGENDA MEMORANDUM

Meeting Date:           September 12, 2011

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

                                    Jerry Boop, Finance Director, CPA, CGFO   

Subject:                      Resolutions Amending the Budget for Fiscal Year 2010-11 and Adopting the Budget for Fiscal Year 2011-12 for the Carver Heights/ Montclair Area Community Redevelopment Agency

Staff Recommendation:

Staff recommends approval of the amended budget for fiscal year 2010-11 and the budget for fiscal year 2011-12 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, 2011, there will be approximately $1,259,402 available that can be carried forward and spent in fiscal year 2011-12.  As shown in Attachment B, the total funding appropriation proposed for the Carver Heights/ Montclair Area CRA for fiscal year 2011-12 is $270,942.  The projects planned for the fiscal year are as follows:

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

Options:

1.  Approve the amended budget for fiscal year 2010-11 and the budget for fiscal year 2011-12 for the Carver Heights/ Montclair Area Community Redevelopment Agency;

2.  Such other action directed by CRA

Fiscal Impact: 

The budget is necessary to appropriate funds and complete the activities approved by the Community Redevelopment Agency.

Submission Date and Time:    9/8/2011 7:06 PM____

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

Reviewed by: Dept. Head __JB____ Finance  Dept. ___________JB__                                    Deputy C.M. ___________________                                           Submitted by: City Manager ___________________

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