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A RESOLUTION TO AMEND THE 2019 OPERATING BUDGET FOR THE NATIONAL HOUSING TRUST FUND GRANT (NHTF) THROUGH THE ARKANSAS DEPARTMENT OF FINANCE AUTHORITY (ADFA) FOR THE VETERANS VILLAGE PROJECT
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WHEREAS, the City of Jonesboro, Arkansas was awarded the National Housing Trust Fund (NHTF) through the Arkansas Department of Finance Authority (ADFA) Program in the amount of $1,058,925 with no local match requirement; and,
WHEREAS, the City of Jonesboro passed the 2019 Operating Budget in Resolution 18:186, which did not include a budgeted amount for the Veterans Village project that is being funding from the NHTF grant and will need to be amended in order to reflect the awarded amount; and,
WHEREAS, the budgeted expenditure increases will consist of the following:
09-983-0217-00 Architect Fee $ 15,000.00
09-983-0253-00 Land Aquisitions $115,000.00
09-983-0317-00 Demolition $ 17,500.00
WHEREAS, the budgeted revenue increase will consist of the following:
09-983-0323-01 Federal Funding $147,500.00
NOW, THEREFORE BE IT RESOLVED BY THE CITY COUNCIL FOR THE CITY OF JONESBORO, ARKANSAS THAT:
Section 1: The 2019 Operating Budget is hereby amended to provide a change in the Federal Funds Budget to include the National Housing Trust Fund (NHTF) Award for the Veterans Village Project.
PASSED AND APPROVED THIS 5TH DAY OF NOVEMBER, 2019.