HomeMy WebLinkAbout2010 CC RESO 2010-146 CDCRESOLUTION NO. 2010 — 146
RESOLUTION OF THE COMMUNITY DEVELOPMENT
COMMISSION OF THE CITY OF NATIONAL CITY
ADOPTING THE MORGAN TOWER AND KIMBALL TOWER
BUDGETS FOR FISCAL YEAR 2010-2011
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 should be presented and approved independently of
the CDC's annual budget; and
WHEREAS, an approximate 3.68% rent increase for the Morgan Tower, based
on the HUD Automatic Adjustment Factor, is recommended to cover the cost of utilities,
operating, and maintenance expenses.
WHEREAS, an approximate 10.93% rent increase for the Kimball Tower is
recommended to cover the costs of utilities, insurance, and operating and maintenance
expenses.
WHEREAS, the budgets for the Kimball and Morgan Towers for the fiscal year
ending 2010-2011 have been prepared and presented for 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 the fiscal year 2010-2011.
PASSED and ADOPTED this 22nd day of June, 0.
o Mn orrison, Ci rman
ATTEST: APPROVED AS TO FORM:
Brad Raulston, Secretary
George H. Eiser, III
City Attorney
Passed and adopted by the Community Development Commission of the City of
National City, California, on June 22, 2010, by the following vote, to -wit:
Ayes: Commissioners Morrison, Sotelo-Solis, Van Deventer, Zarate.
Nays: None.
Absent: None.
Abstain: None.
AUTHENTICATED BY: RON MORRISON
Chairman, Community Development Commission
By:
Secretary, Community Developm t
Commission
Deputy
I HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of
RESOLUTION NO. 2010-146 of the Community Development Commission of the City
of National City, California, passed and adopted on June 22, 2010.
Secretary, Community Development Commission
By:
Deputy