From
Katherine Garcia-Thomson
Title
Ordinance adopting the 2015 calendar-year budgets for the Housing Choice Voucher (Section 8) Operating Fund (300192) for $2,427,845; Housing Assistance Payments (HAP) Fund (300292) for $26,051,447; and Non-HCV Program Fund (300492) for $300,000
Presenter
William A. Hills, Director, Housing and Neighborhood Services
Recommended Action
Approve
Analysis
The Section 8 Program was enacted as part of the Housing and Community Development Act of 1974. The Department of Housing and Urban Development (HUD) requires all agencies administering a Section 8 Program to adopt operating budgets prior to the beginning of their designated fiscal year. The 2015 Section 8 budgets are 12-month calendar-year budgets beginning January 1, 2015 and ending December 31, 2015 and include Federal grant funding from HUD.
This item was presented to the City Council Finance and Government Committee on February 3, 2015 and was recommended for passage by the City Council.
Financial Consideration
The Section 8 Operating Fund (300192) budgeted expenditures of $2,427,845 will be partially funded with grant revenue vouchers of $1,891,556 (300192-45070). Remaining revenue funding sources are as listed on Exhibit A.
The HAP Fund (300292) budgeted expenditures of $26,051,447 will be fully funded with grant revenue vouchers of $26,051,447 (300292-45070).
The Non-HCV Program Fund (300492) budgeted expenditures of $300,000 will be funded with fund reserves.
Body
AN ORDINANCE OF THE CITY OF GRAND PRAIRIE, TEXAS, TO APPROVE AND ADOPT THE HOUSING CHOICE VOUCHER (SECTION 8) OPERATING FUND (300192) BUDGET FOR $2,427,845; THE HOUSING ASSISTANCE PAYMENT (HAP) FUND (300292) BUDGET FOR $26,051,447; AND THE NON-HCV PROGRAM FUND (300492) BUDGET FOR $300,000 FOR THE CALENDAR YEAR 2015.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF GRAND PRAIRIE, TEXAS:
SECTION 1. THAT THE CITY COUNCIL OF THE CITY OF GRAND PRAIRIE APPROVE THE HOU...
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