CITY OF ALAMEDA RESOLUTION NO.
AMENDING THE FISCAL YEAR 2021-22 GENERAL FUND BUDGET
TO APPROPRIATE AN ADDITIONAL $2,000,000 TO FUND
GENERAL DEVELOPMENT COSTS FOR AN INTERIM SUPPORTIVE
HOMELESS HOUSING PROJECT ON THE BOTTLE PARCEL AT
2350 5TH STREET
WHEREAS, on June 15, 2021, the City Council did adopt a budget representing the financial plan for conducting the affairs of the City of Alameda for the Fiscal Year beginning July 1, 2021 and ending June 30, 2022; and
WHEREAS, staff is proposing that General Fund expenditure appropriations be increased by $2,000,000 for a promissory note to fund general development costs for an interim supportive homeless housing project on the Bottle Parcel at 2350 5th Street; and
WHEREAS, the funds would be repaid to the General Fund by Five Keys upon receipt of Homekey grant funds from the State Department of Housing & Community Development under an interim funding agreement and promissory note; and
WHEREAS, the Council has considered the report and recommendations of the City Manager on the budget amendment and has determined that the budget amendment is both fair and appropriate; and
WHEREAS, this budget ensures that the City of Alameda has exercised prudent judgment in its fiduciary responsibility as guardian of the public tax dollars.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Alameda that the budget amendment in the amount of $2,000,000 to the City’s General Fund Fiscal Year 2021-22 budget is approved.
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I, the undersigned, herby certify that the foregoing Resolution was duly and regularly adopted and passed by the Council of the City of Alameda in a regular meeting assembled on the 5th day of April 2022, by the following vote to wit:
AYES:
NOES:
ABSENT:
ABSTENTIONS:
IN WITNESS, WHEROF, I have hereunto set my hand and affixed the seal of said City this 6th day of April 2022.
Lara Weisiger, City Clerk
City of Alameda
APPROVED AS TO FORM:
Yibin Shen, City Attorney
City of Alameda