HomeMy WebLinkAbout2006-03-06 Ordinance 4896\ '
ORDINANCE NO. 4896
ORDINANCE OF THE COUNCIL OF THE CITY OF PALO ALTO AMENDING
THE BUDGET FOR THE FISCAL YEAR 2005-06 TO TRANSFER $250,000
FROM THE COMMERCIAL HOUSING IN-LIEU FUND TO THE COMMUNIITY
DEVELOMPENT BLOCK GRANT FUND FOR THE ACQUISITION OF HOUSING
UNITS LOCATED AT 2507-2533 ALMA STREET BY THE COMMUNITY
WORKING GROUP
The Council of the City of Palo Alto does ORDAIN as follows:
SECTION 1. The Council of the City of Palo Alto finds and
determines as follows:
A. Pursuant to the provisions of Section 12 of Article III of
the Charter of the City of Palo Alto, the Council on June 20, 2005
did adopt a budget for fiscal year 2005-06i and
B. The City housing development fund is funded by Community
Development Block Grant (CDBG) funds and currently has a balance of
$900,000 to be used for the creation of affordable housingi and
C. In response to a request for proposals issuerl by the City
for acquisition of an affordable housing site to be funded through
the CDBG housing development fund, Community Working Group submitted
a proposal to the city to acquire a 10-unit apartment building
complex and requested funding from the City in the amount of
$l,150,OOOi and
D. A transfer of funds in the amount of $250,000 is needed
from the Commercial Housing In-Lieu Fund to the Housing Development
portion of the CDBG Fund to complete the affordable housing
transaction with Community Working GrouPi and
E. The Commercial Housing In-Lieu Fund-will be reimbursed by
the CDBG program when funds become available in fiscal year 2006-
07i and
F. City Council authorization is needed to amend the 2005-06
budget as hereinafter set forth.
SECTION 2. The sum of Two Hundred Fifty Thousand Dollars
($250,OOO) is hereby transferred from the Commercial Housing In-
Lieu Fund 234 to the CDBG Fund 232 to appropriate non-salary
expense in the CDBG Fund.
SECTION 3. This transaction will reduce the Commercial Housing
In-Lieu Fund 234 from $6,661,663 to $6,411,663 and increase the
CDBG Fund 232 from $3,368,360 to $3,618,360.
SECTION 4. As specified in Section 2.28.080 {a} of the Palo
Alto Municipal Code, a two-thirds vote of the City Council is
required to adopt this ordinance.
SECTION 5. The Council of the City of Palo Alto hereby finds
that this project is exempt from review under the California
Environmental Quality Act pursuant to Title 14 California Code of
Regulations Section 15301 as the acquisition of existing facilities
and therefore, no environmental impact assessment is necessary.
SECTION 6.
Municipal Code,
adoption.
As provided in Section 2.04.330 of the Palo Alto
this ordinance shall become effective upon
INTRODUCED AND PASSED: March 6, 2006
AYES: BEECHAM, DREKMEIER, KISHIMOTO, KLEIN, KLEINBERG,
MORTON, MOSSAR
NOES:
ABSTENTIONS: BARTON, CORDELL
ABSENT:
APPROVED AS TO FORM:
Senior ~. City Attorney
~~~
APPROVED;
Direc or 0 Planning and
Community Environment
Director of
Services