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Agenda 05/28/2013 Item #16D 4 5/28/2013 16.D.4. EXECUTIVE SUMMARY Recommendation to authorize a budget amendment recognizing the respective amounts of $83,203.21 in program income revenue generated by properties acquired under the Neighborhood Stabilization Program (NSP1). OBJECTIVE: To accurately account for program income generated from NSP1 activities in order to continue to reuse NSP funds within the community. CONSIDERATIONS: Collier County has used Neighborhood Stabilization Program funds to acquire and rehabilitate foreclosed and abandoned properties. Collier County had acquired six duplexes located at 5318-5340 Gilchrist St with NSP1 dollars on September 28, 2010 and subsequently entered into a temporary property management agreement with Colonial Square. That temporary agreement was terminated in August,2012. The purpose of this budget amendment is to execute the final reconciliation agreed upon by HHVS, the Grant Compliance Office within the Collier County Office of Management and Budget, and the Clerk of Courts to recognize the program income in the amount of$83,097.39 resulting from the termination of the property management agreement with Colonial Square. An additional amount of 105.82 is needed to be recognized resulting from equity repayments from Lee County Electric Cooperative (LCEC). For the NSP1 properties as a customer of LCEC, the County was entitled to a credit repayment through LCEC's equity distribution program as approved by its board of directors. The purpose of this budget amendment is to recognize this program credit. FISCAL IMPACT: A budget amendment is necessary to recognize program income revenue in the amounts of$83,097.39 and$105.82 within Urban Improvement Grants Fund 121,NSP1 Project 33050. LEGAL CONSIDERATIONS: This item has been reviewed by the County Attorney's Office, raises no legal issues, and requires majority vote for Board approval. -JBW GROWTH MANAGEMENT IMPACT: The Neighborhood Stabilization Program facilitates the goals, objectives and policies set forth in the Housing Element of the Growth Management Plan. RECOMMENDATION: To recognize $87,203.21 in revenue and authorize the corresponding budget amendments. Prepared By: Geoffrey Magon, Grants Coordinator, Housing, Human&Veteran Services Packet Page-2042- 5/28/2013 16.D.4. COLLIER COUNTY Board of County Commissioners Item Number: 16.16.D.16.D.4. Item Summary: Recommendation to authorize a budget amendment recognizing the respective amounts of$83,203.21 in program income revenue generated by properties acquired under the Neighborhood Stabilization Program (NSP1). Meeting Date: 5/28/2013 Prepared By Name: MagonGeoffrey Title: Grants Coordinator 4/26/2013 1:26:31 PM Approved By Name: SonntagKristi Date: 4/26/2013 5:40:09 PM Name: LarsenKathleen Date: 5/3/2013 3:25:45 PM Name: AlonsoHailey Title: Operations Analyst,Public Service Division Date: 5/14/2013 11:09:47 AM Name: GrantKimberley Title: Interim Director,HHVS Date: 5/14/2013 1:48:49 PM Name: Joshua Thomas Title: Grants Support Specialist, Date: 5/15/2013 12:22:20 PM Name: CarnellSteve Title: Director-Purchasing/General Services,Purchasing Date: 5/15/2013 7:48:01 PM Name: BelpedioJennifer Packet Page-2043- 5/28/2013 16.D.4. Title: Assistant County Attorney,County Attorney Date: 5/16/2013 9:26:30 AM Name: StanleyTherese Title: Management/Budget Analyst, Senior,Office of Manage Date: 5/16/2013 2:30:21 PM Name: KlatzkowJeff Title: County Attorney Date: 5/16/2013 3:12:00 PM Name: IsacksonMark Title: Director-Corp Financial and Mgmt Svs,CMO Date: 5/20/2013 11:20:04 AM Asow Packet Page-2044- 5/28/2013 16.D.4. 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