From
Katherine Garcia-Thomson
Title
Ordinance adopting the Housing Choice Voucher (Section 8) Fund 300192 operating budget for 2016 and allocating the REO and Housing Relief funds for 2016
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 who administer a Section 8 Program adopt an operating budget prior to the beginning of their designated fiscal year. The 2016 Section 8 budget is a 12-month budget beginning January, 2016 and ending December, 2016. The 2016 Section 8 budget consists of Program Administrative fees and Housing Choice Assistance Payments (HAP). The REO fund represents funds used for the purchase and rehabilitation of foreclosed homes to be made available to HCV (Section 8) program participants who qualify for the HCV homeownership program. The Housing Relief Funds are funds utilized for one time purchases of housing related items and projects.
Financial Consideration
Attachments: Exhibit A
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 THE CALENDAR YEAR 2016
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 approves the Housing Choice Voucher (Section 8) Operating Fund (300192) budget as delineated in the attached budget hereto (Exhibit A); incorporating the same as if it were written herein; and allocates the REO and Housing Relief funds for calendar year 2016.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF GRAND PRAIRIE, TEXAS, ON THIS THE 2ND DAY OF FEBRUARY, 2016.