4/7/1987 - Laserfiche WebLink

Home Browse Search

APR 71987 BOOK 67 Fv�;F. 8 With the interests in mind of those residents of our County who will take advantage of living units that will be constructed in Phase II, the Housing Authority requests the Board of County Commissioners to lend to the Housing Authority approximately $83,000.00, i.e. $76,000.00 in principal, plus $7,000.00 in accrued interest for a period of two years under terms deemed reasonable by the Board. The Housing Authority will pledge the 5.6 acres which has an appraised value of at least $85,000.00 (see Armfield appraisal included). In the event two years from now the Farmers Home Administration or other appropriate funding agency has not funded Phase II, then the 5.6 acres will be conveyed to the County for County purposes. Thank you for your consideration in this matter. I would appreciate having this item placed on the Board of County a Commission's agenda for April 7, 1987. Sincerelyf Georg G. , Jr. Finance Director Ed Fry advised that Commissioner Wheeler had requested information about funds that have been provided to the Housing Authority, and he distributed the following showing the funds that have been committed to the Housing Authority since its inception: TO: The Honorable Members of the DATE: April 7, 1987 FILE: Board of County Commissioners SUBJECT: Grants to Housing Authority -by Board of County Commissioners FROM: Edwin M. Fry, Jr. REFERENCES: Finance Director The following is a breakdown of the amounts given to the Indian River County Housing Authority since their first year of operation through March 31, 1987: 1980-81 Fiscal Year 1981-82 Fiscal Year 1982-83 Fiscal Year 1983-84 Fiscal Year 1984-85 Fiscal Year 1985-86 Fiscal Year 1986-3/87 $36,199.37 58,458.98 67,245.72 76,522.34 87,879.24 70,966.91 31,425.79 Total 428,698.35 When the Housing Authority first started operations, the Board of County Commissioners loaned the Housing Authority the money they needed for 64