Title
Resolution amending the 2015 budget for the HRA Loan Enterprise Fund to include the Great Minnesota Fix-Up Program.
Body
WHEREAS, the City of Saint Paul, effective January 1, 2014, installed a new financial reporting system called “Infor” for use by the City and the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota (“HRA”), and the Great Minnesota Fix Up Program (the “Program”) was to be included with the HRA Loan Enterprise Fund under the new Infor “chart of accounts” structure; and
WHEREAS, the 2015 budget for the HRA Loan Enterprise Fund did not include the Program because of inadvertent oversight that the Program budget was to be included with this Fund and therefore the budget needs to be amended to include the Program; and
WHEREAS, the Program is a State of Minnesota grant program that provides assistance to homeowners to repair, remodel, and make energy saving improvements to their homes; and
WHEREAS, loans provided to homeowners under the Program are financed by State grants, and the HRA additionally provides discounts to qualified homeowners financed by the HRA Loan Enterprise Fund through an intrafund transfer; and
WHEREAS, the 2015 budget for the State grants is $500,000 and the 2015 budget for the HRA discounts is $35,000; and
NOW, THEREFORE BE IT RESOLVED, by the Board of Commissioners of the Housing and Redevelopment Authority of the City of Saint Paul, Minnesota that the 2015 budget for the Program be increased by $535,000 in the HRA Loan Enterprise Fund, as shown in Attachment B; and
BE IT FURTHER RESOLVED that the Executive Director and staff of the HRA are authorized and directed to take all actions needed to implement this resolution.