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Home My WebLink About~Master - Amendment to 28E Agreement for Affordable Housing Program RESOLUTION NO. 01-037 RESOLUTION APPROVING AMENDMENT TO 28E AGREEMENTS WITH PARTICIPATING CITIES AND STORY COUNTY PERTAINING TO THE AMES/STORY COUNTY AFFORDABLE HOUSING PROGRAM WHEREAS, the 28E Agreements pertaining to the Ames/Story County Affordable Housing Program are due to expire on February 28,2002, however, there is a Program fund balance of approximately$759,000 remaining in the Housing Bank; and, WHEREAS, revenue projections based on partial year beginning balances and interest earnings indicate that there are sufficient monies if the Partnership wanted to extend to a fourth year without any additional local match contributions for administration; and, WHEREAS, in conjunction with the extension request to the Iowa Department of Economic Development, staff and the Partnership felt that the 28E agreements between the partners and the City should also be amended to reflect the same contract end date as the LHAP Agreement; and, WHEREAS,each city and Story County has agreed to request approval from their Council and/or Board to amend the 28E Agreement with the City of Ames to extend their contract end date from February 28, 2002, to June 30, 2002; and, WHEREAS,having both agreements be consistent with the fiscal year end date for municipalities would help simplify the budgeting process, the determination of fund balances, and when to allocate future funds. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa, that the amendment to the 28E Agreements with participating cities and Story County, pertaining to the Ames/Story County Affordable Housing Program, extending the contract end date until June 30, 2002, is hereby approved. ADOPTED THIS 23rd day of January, 2001. Diane R. Voss, City Clerk Ted Tedesco, Mayor Introduced by: Cross Seconded by: Wirth Voting aye: Campbell, Cross, Goodhue, Hoffman, Quirmbach Voting nay: None Absent: None Resolution declared adopted and signed by the Mayor this 23rd day of January, 2001.