CITY COUNCIL AGENDA ITEM
Memo Date: November 4, 2024.
Agenda Date: November 12, 2024.
Prepared By: Charlene Neuterman, Community Services Director
Through: Stockton Whitten, City Manager
Requested Action:
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Approve Amendment #1 to the Interlocal Agreement between the City of Cocoa and the Diamond Square Community Redevelopment Agency for the Michael C. Blake Subdivision. Approve A Resolution Amending the FY24 Budget, BAF#24-134-ITF.
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BACKGROUND:
The Interlocal Agreement between the City of Cocoa and Diamond Square CRA for the purpose of constructing five new homes in the Michael C. Blake Subdivision was approved in FY2024. This addendum adds the funds budgeted for the Down Payment Assistance by the CRA. Each of the five homeowners utilized the Down Payment Assistance funds provided by the Diamond Square CRA.
705 Stone - $30,000
709 Stone - $30,000
713 Stone - $30,000
309 Valencia - $29,380.15
310 Mango - $26,299.73
Total $145,679.88
The funds will be transferred from the Agency (Fund 111) to the City (Fund 001), where the expense was incurred in FY2024.
Staff requests approval of Addendum #1 of the Interlocal Agreement and approval of Budget Resolution BAF#24-134-IFT for Fiscal Year 2024.
PRIORITY AREA CONNECTION:
Economic and Community Development.
BUDGETARY IMPACT:
Budgeted Yes
If not budgeted, is amendment/transfer attached? Yes
Amount Requested $(145,680)
Account Number 111-3230-559-83-00
Account Name Other Grants & Aids
Amount Requested $145,680
Account Number 111-3230-581.91-01
Account Name Interfund Transfer to GF
Amount Requested $145,680
Account Number 001-0000-381.91-11
Account Name Interfund Transfer From DS
Amount Requested $145,680
Account Number 001-3200-515.83-00
Account Name Other Grants & Aids
PREVIOUS ACTION:
Approved Interlocal Agreement between Diamond Square CRA and the City of Cocoa in FY2024.
RECOMMENDED MOTION:
Recommendation
Approve Amendment #1 to the Interlocal A...
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