Agenda 12/10/2013 Item #16D14 12/10/2013 16.D.14.
EXECUTIVE SUMMARY
Recommendation to authorize a budget amendment recognizing $245,250.26 in program income
revenue generated when conveying properties acquired under the Neighborhood Stabilization
Program (NSP1).
OBJECTIVE: To accurately account for program income generated from NSPI activities.
CONSIDERATIONS: Collier County used Neighborhood Stabilization Program funds to acquire and
rehabilitate foreclosed and abandoned properties. Once rehabilitation is complete, the homes are sold to
income-qualified persons or families. Upon sale, the net proceeds are returned to Collier County as
program income to be used for other eligible Neighborhood Stabilization Program activities, including
administration. The following table lists the properties that sold which have generated program income.
Down Misc
Property Contract Net Proceeds
Address Price Payment Closing (Revenue) Admin Program
Assistance Costs
2820 47"'Ave $100,000 ($30,000) $98.39 $70,098.39 $7,009.83 $63,088.56
NE
3402 Seminole $91,000 ($27,300) $23.54 $63,723.54 $6,372.35 $57,351.19
Ave
3502 Caloosa St $72,000 ($21,600) $48.48 $50,448.48 $5,044.85 $45,403.63
4735 6"'Ave SE $87,000 ($26,100) 79.85 $60,979.85 $6,097.98 $54,881.87
TOTAL $350,000 ($105,000) $250.26 $245,250.26 $24,525.01 $220,725.25
Furthermore, approval of this item will authorize the reallocation of funds within the program
commitment items to accurately reflect ongoing program expenses. NSP guidelines allow 10%
($24,525.01)of program income to fund administration.
HHVS will use program income generated by the sale of NSP homes to successfully implement the Board
approved NSP exit strategy. As the County depletes its NSP housing stock through sale of property,
program income has and will be used to cover any additional expenditure. All program income will be
used in compliance with federal grant regulations and be disposed of per Federal guidelines.
FISCAL IMPACT: A budget amendment is necessary to recognize program income revenue in the
amount of$245,250.26 within Urban Improvement Grants Fund 121,NSP1 Project 33050.
LEGAL CONSIDERATIONS: This item is approved as to form and legality and requires a majority
vote for Board action. -JAB
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 $245,250.26 in revenue and authorize the corresponding budget
amendment.
Prepared By:Geoffrey Magon, Grant Coordinator,Housing,Human and Veteran Services
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12/10/2013 16.D.14.
COLLIER COUNTY
Board of County Commissioners
Item Number: 16.16.D.16.D.14.
Item Summary: Recommendation to authorize a budget amendment recognizing
$245,250.26 in program income revenue generated when conveying properties acquired under
the Neighborhood Stabilization Program (NSP1).
Meeting Date: 12/10/2013
Prepared By
Name: MagonGeoffrey
Title: Grants Coordinator
11/13/2013 4:09:32 PM
Approved By
Name: GrantKimberley
Title: Interim Director
Date: 11/14/2013 3:37:42 PM
Name: SonntagKristi
Date: 11/14/2013 3:43:44 PM
Name: KushiEdmond
Date: 11/14/2013 4:02:05 PM
Name: AlonsoHailey
Title: Operations Analyst,Public Service Division
Date: 11/15/2013 9:03:10 AM
Name: CarnellSteve
Title: Purchasing/General Services Director
Date: 11/15/2013 10:19:55 AM
Name: RobinsonErica
Date: 11/19/2013 4:14:07 PM
Name: BelpedioJennifer
Title: Assistant County Attorney,County Attorney
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12/10/2013 16.D.14.
Date: 11/20/2013 10:08:36 AM
Name: KlatzkowJeff
Title: County Attorney
Date: 11/20/2013 4:55:14 PM
Name: FinnEd
Title: Senior Budget Analyst, OMB
Date: 11/21/2013 12:09:02 PM
Name: StanleyTherese
Title: Management/Budget Analyst, Senior,Office of Manage
Date: 11/25/2013 4:35:50 PM
Name: KlatzkowJeff
Title: County Attorney
Date: 11/26/2013 2:09:28 PM
Name: OchsLeo
Title: County Manager
Date: 11/26/2013 5:02:37 PM
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