Title
Adopt a resolution to:
a. Receive a report on the Housing and Economic Development Division's unspent cannabis assignment funds of $35,597.50 from fiscal year 2019-20;
b. Authorize the Auditor-Controller to amend the FY 2020-21 Adopted Budget by increasing appropriations in the Housing and Economic Development Division (001-8514-CAO038) by $35,597.50, financed by a release of Cannabis Tax Assignment, Fund 001, Balance Sheet Account 3132 (4/5ths vote required); and
c. Authorize the Housing and Economic Development Division to use the $35,597.50 in FY 2020-21 toward housing development, homelessness consultants and a contribution to the Fondo Empresarial Emergency Loan Program.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors adopt a resolution to:
a. Receive a report on the Housing and Economic Development Division's unspent cannabis assignment funds of $35,597.50 from fiscal year 2019-20;
b. Authorize the Auditor-Controller to amend the FY 2020-21 Adopted Budget by increasing appropriations in the Housing and Economic Development Division (001-8514-CAO038) by $35,597.50, financed by a release of Cannabis Tax Assignment, Fund 001, Balance Sheet Account 3132 (4/5ths vote required); and
c. Authorize the Housing and Economic Development Division to use the $35,597.50 in FY 2020-21 toward housing development, homelessness consultants and a contribution to the Fondo Empresarial Emergency Loan Program.
SUMMARY/DISCUSSION:
During the 2019-20 budget hearings, the Board of Supervisors allocated the Housing and Economic Development (HED) Division $45,000 for homelessness consultants and $5,000 for Chinatown outreach from the General Fund Cannabis Tax Assignment. Then on April 28, 2020, the Board of Supervisors approved another allocation of $25,000 from the same source for a contribution to the Fondo Empresarial Emergency Loan Program.
The $5,000 for Chinatown outreach was fully spent. From the $45,000 for homelessness consultants, $34,4...
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