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Agenda 09/11/2012 Item #16D 5901/2012 Item 16.D.rl OBJECTIVE: To establish a budget for the FY11 /E.1 State Housing Initiative Partnership (SHIP) Program. CONSIDERATIONS: On July 7, 1992, the William E. !,Sadowski Affordable Housing Act (SHIP) was signed into law providing additional funding to local communities in order to promote and advance affordable housing initiatives. Funds are generated through a documentary stamp tax on real estate transactions. Under the SHIP program, Collier County'! the City of Naples receive State funds annually and each annual allocation can be expended over ';a three year cycle. In 2012, Collier County received $430,987 for the period July 1, 2011 through June 30, 2014 of which $27,454 is expended on behalf of the City of Naples through an interlocal agreement. During the County's FY 2011, from the period July 1, 2011 through September 30, 2011, $20,710.81 was received in interest and loan payments which were deposited into the' exiting SHIP Fund 191. During FY 2012. the amount of interest and loan payments received was $333',595.62 which was deposited into SHIP Grant Fund 791 within the Grants Management System. TABLE 1 SHIP FY11 /12 AWARD $430,987.00 FUND 791 / PROJECT 33198 COLLIER FY11 PROGRAM INCOME $20,710.81 FUND 191 / PROJECT 44209 COLLIER FY12 PROGRAM INCOME $333,595.62 FUND 791 / PROJECT 33198 TOTAL SHIP FUNDS AVAILABLE $785,293.43 Tr- -. pronosec expenditure budQe-. of $785?03.4, will pf used to provide down paymen-, purchasinL assistance. homebuyer education and administrativ:, services. including staff salaries to administer the program. TABLE 2 PROGRAM ADMINISTRATION $60,814.02 HOMEBUYER EDUCATION $50,000.00 PURCHASE ASSISTANCE $674,479.41 PROPOSED EXPENDITURE BUDGET $785,293.43 FISCAL IMPACT: Budget amendments in the amount of $785,293.43 are necessary to recognize all SHIP grant revenue and program income as detailed within Table 1 to a single project (33198) within SHIP Grant Fund 791. These budget amendments establish the appropriate amount of grant revenues and project income within a single project pursuant adviselment received from Florida Housing Coalition Technical staff. These funds will not be expended until prior year available SHIP funds are exhausted or June 30, 2013 whichever comes first. LEGAL CONSIDERATIONS: This item does not present any legal issues and requires a majority vote for Board action. -JBW GROWTH MANAGEMENT IMPACT: Approval of this item will facilitate the goals set forth in the Housing Element of the Growth Management Plan. Packet Page -2$43- 9/11/120112 Item 16.D., RECOMMENDATION: To approve the necessary Budget Amendments recognizing $785,293.43 in SHIP revenue within Fund 791. Prepared By: Maria Ackerman, Grant Accountant, Grants Management Office Packet Page -2844- COLLIER COUNTY Board of County Commissioners Item Number: 16.D.S. 91/1 '� '20122 lterr i r .2 . . Item Summary: Recommendation to approve a budget amendment recognizing $785,293.43 of State Housing Initiative Partnership (SHIP) grant revenue and program income. Meeting Date: 9/11/2012 Prepared By Name: AckermanMaria Title: Senior Accountant, Grants 7/19/2012 1:31:27 PM Submitted by Title: VALUE MISSING Name: Sonnta -Kristi 7/19/2012 1:3'1:30 PM Approved By Name: GrantKimberlev Title: Interim Director, HHVS Date: 8/23/2012 1:59:10 PM Name: AckermanMaria Title: Senior Accountant, Grants Date: 8/23/2012 2:14:12 PM Name: WhiteJennifer Title: Assistant County Attorney,County Attorney Date: 8/23/2012 2:51:39 PM Name: CarnellSteve Title: Director - Purchasing /General Services,Purchasing Date: 8/28/2012 5:17:39 PM Name: KlatzkowJeff Packet Page -2845- Titie: County Attorney Date: 8/29/2012 3:42:07 PM 9/11/12012 Item Name: StanleyTherese Title: Management /Budget Analyst, Senior,Office of Management & Budget Date: 9/4/2012 1:20:21 PM Name: IsacksonMark Title: Director -Corp Financial and Mgmt Svs,CMO Date: 9/4/2012 1:52:49 PM Packet Page -2846- SHIF PRDGkAA ALLOCA ICAN FY 2011/2012 COLLIER Naples 430,987 403,533 27,454 COLUMBIA 350,000 350,000 DE SOTO 350,000 350,000 DIXIE 350,000 350,000 DUVAL 803,821 803,821 ESCAMBIA Pensacola 417,864 344,905 72,959 FLAGLER Palm Coast 350,000 76,860 273,140 FRANKLIN 350,000 350,000 GADSDEN 350,000 350,000 GILCHRIST 350,000 350,000 GLADES 350,000 350,000 GULF 350,000 350,000 HAMILTON 350,000 350,000 HARDEE 350,000 350,000 HENDRY 350,000 350,000 HERNANDO 350,000 350,000 HIGHLANDS 350,000 350,000 HILLSBOROUGH Tama 1,001,924 716,175 285,749 HOLMES 350,000 350,000 INDIAN RIVER 350,000 350,000 JACKSON 350,000 350,000 JEFFERSON 350,000 350,000 LAFAYETTE 350,000 350,000 LAKE 408,531 408,531 LEE Cape Coral Ft. Mvers 615,967 382,207 165,326 68,434 Packet Page -2847- 9/11/2012 Item `1 �.D. I ©isplayActual G'ostUneItems for.Proje4 is %Documen_ Cc-Maste• Record [n Q% 7 8 W ®'f qi 2 % T RD 23 0 Q�3 (p Layout SAP 210 Therese Object PRJ 33198.. FY 11 -14 SHIP... Cost Element 300000 To 499999 • Posting Date 07/01/2011 To 08/31/2012 Per Year Fund WBS Elem. Cost Ele Cast element name RefDod4c DocTyp Purch.Doc. PostJng Date E VaVCOArea Crcy 33198.1 334530,, STATE HOUSING INCENT 430,987.00- 33198.1 361170 o FIFTH THIRD O/N iNT 924.32 33198.1 , 361180 o INVESTMENT INTEREST 9,898.52- 33198.1 369600' GRANT PROGRAM iNCd,,, 32,346.15 -. 33198.1 ;. 369601 Q SHIP LOAN PAYMENTS _ .. 289,926.33- 33198.1 _. 369603 c SHIP SHORT SALE 500.00-' 33198.1 rr� ` 764,582.62— 44209.1 345200, SHIP PROGRAM INCOME . 0.00 49209.1 361170 c FIFTH THIRD O/N INT 216.65- 44209.1 361180a INVESTMENT INTEREST 8,038.56 44209.1 369300 o REIMBURSEMENT FOR P)( 0.00 44209.1 369600 Q GRANT PROGRAM INCO 12,455.60- ; 44209.1 o MISC REV .... 0.00 44209.1.. ..__. 20,710.81 - i: ... 785,293.43- Packet Page -2848-