HomeMy WebLinkAbout2007 CC RESO 2007-138 CDCRESOLUTION NO. 2007 — 138
RESOLUTION OF THE COMMUNITY DEVELOPMENT
COMMISSION OF THE CITY OF NATIONAL CITY
APPROVING THE KIMBALL AND MORGAN TOWERS
BUDGETS FOR THE FISCAL YEAR 2007-2008
WHEREAS, the Community Development Commission of the City of National
City (CDC) owns the Kimball and Morgan Towers; and
WHEREAS, Falkenberg, Gilliam and Associates has been the property
management company for said Towers since 1995; and
WHEREAS, an operating budget for each building is prepared by the
management company and is reviewed and approved by the CDC Board; and
WHEREAS, the Kimball and Morgan Towers operations do not have a direct
financial impact on CDC operations, and the Morgan and Kimball Towers Budgets should be
presented and approved independently of the CDC's annual budget; and
WHEREAS, the last rent increase for Kimball Tower was in 2000, and no rent
increase is recommended for fiscal year 2007-2008; and
WHEREAS, an approximately 2.8% rent increase for the Morgan Tower, based
on the HUD Automatic Annual Adjustment Factor, is recommended to cover the costs of
increased water expenses, insurance costs and benefits, and other operating and maintenance
costs; and
WHEREAS, the budgets for the Kimball and Morgan Towers for the fiscal year
ending 2007-2008 have been prepared and presented for CDC approval.
NOW, THEREFORE, BE IT RESOLVED that the Community Development
Commission of the City of National City hereby approves the Kimball and Morgan Towers
budgets for Fiscal Year 2007-2008.
PASSED and ADOPTED this 19th day of June,
on Morris. , Mayor
ATTEST:
Bra.—ulston, Secretary
APPROVED AS TO FORM:
George H. Eiser, III
Legal Counsel
Passed and adopted by the Community Development Commission of the City of
National City, California, on June 19, 2007, by the following vote, to -wit:
Ayes: Commissioners Morrison, Natividad, Parra, Ungab, Zarate.
Nays: None.
Absent: None.
Abstain: None.
AUTHENTICATED BY: RON MORRISON
Chairman, Community Development Commission
Secretary, C
evelopment Commission
By:
Deputy
I HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of
RESOLUTION NO. 2007-138 of the Community Development Commission of the City
of National City, California, passed and adopted on June 19, 2007.
Secretary, Community Development Commission
By:
Deputy