HomeMy WebLinkAbout20162704.tiffRESOLUTION
RE: AUTHORIZE USE OF HOUSING AUTHORITY ADMINISTRATIVE RESERVE FUNDS
WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to
Colorado statute and the Weld County Home Rule Charter, is vested with the authority of
administering the affairs of Weld County, Colorado, and
WHEREAS, the United States Department of Housing and Urban Development (HUD)
provides funds to the Weld County Housing Authority for the purpose assisting low income
families with rental payments, and
WHEREAS, HUD funding in 2016 is based on housing cost estimates that are lower than
actual rental costs, due to the high costs and low availability of rental properties in Weld County,
and
WHEREAS, the Weld County Housing Authority currently has a reserve fund of $554,677
which can be used to offset this gap in funding, allowing the Housing Authority to continue to
serve the same number of clients, and
WHEREAS, the Board deems it advisable to authorize the Weld County Housing Authority
to use up to $100,000 of the reserve fund as necessary to ensure the Housing Authority is not
required to reduce assistance payments.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that the Weld County Housing Authority is authorized to use up to $100,000 of
the reserve fund as necessary to ensure the Housing Authority is not required to reduce
assistance payments.
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 22nd day of August, A.D., 2015.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
ATTESIda/Li .cA,
Mike Freeman, Chair
Weld County Clerk to the Board
BY fie- _
uty Clerk to the Board
APPROVES AS
ounty Attorney
Date of signature: l i 10101(0
Sean P. Conway, Pro -Tern
ZG1e./ L�1
Ju1t A. Cozad
4i, i (N‘1)
9 /-1/Q6IG.
2016-2704
HA0031
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