Title
Consider/Discuss/Act on an Ordinance of the City Council of the City of McKinney, Texas Authorizing a Budget Amendment Pertaining to the Fiscal Year 2011 Budget
Summary
MEETING DATE: November 16, 2010
DEPARTMENT: Community Services - Affordable Housing Office
CONTACT: Cristel Pruneda, Affordable Housing Administrator
RECOMMENDED CITY COUNCIL ACTION:
• Approval of the Ordinance.
ITEM SUMMARY:
• As required by the City Charter, the City Manager has prepared an amendment to certain appropriations and expenditures in the Fiscal Year 2011 Budget and submitted the same to City Council for its approval and a true and correct copy is attached.
• The total budget for the 2011 Homebuyer Assistance Program shall be increased to $390,089.
• The funds will be used to assist thirty (30) low-to-moderate-income first-time homebuyers in the purchase of a new home by providing down payment and closing costs assistance.
BACKGROUND INFORMATION:
• N/A
FINANCIAL SUMMARY:
• N/A
BOARD OR COMMISSION RECOMMENDATION:
• N/A