HomeMy WebLinkAbout2011 CC RESO 2011-138 CDCRESOLUTION NO. 2011 — 138
RESOLUTION OF THE COMMUNITY DEVELOPMENT
COMMISSION OF NATIONAL CITY ADOPTING
THE MORGAN TOWER AND KIMBALL TOWER BUDGETS
FOR FISCAL YEAR 2011-2012
WHEREAS, the Community Development Commission of the City of National
City ("CDC") owns 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 1.48% 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 2.63% rent increase for Kimball Tower is
recommended to cover the costs of utilities, insurance, and operating and maintenance
expenses.
WHEREAS, the budgets for Kimball and Morgan Towers for the Fiscal Year
2011-2012 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 Fiscal Year 2011-2012.
PASSED and ADOPTED this 21st day of June, p c
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on Morrison, Chairman
Passed and adopted by the Community Development Commission of the City of
National City, California, on June 21, 2011, by the following vote, to -wit:
Ayes: Commissioners Morrison, Natividad, Rios, Sotelo-Solis, Zarate.
Nays: None.
Absent: None.
Abstain: None.
AUTHENTICATED BY: RON MORRISON
Chairman, Community Development Commission
Secretary, Community Development Commission
By:
Deputy
I HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of
RESOLUTION NO. 2011-138 of the Community Development Commission of the City
of National City, Califomia, passed and adopted on June 21, 2011.
Secretary, Community Development Commission
By:
Deputy