2015-05H HRA ResolutionRESOLUTION NO 15-05H
RESOLUTION APPROVING REVISIONS TO THE 2015 CAPITAL
FUND ANNUAL STATEMENT AND THE CAPITAL FUND PROGRAM
FIVE YEAR ACTION PLAN FOR 2015 - 2019
WHEREAS, the U.S. Department of Housing and Urban Development has agreed to
provide Capital Fund Program (CFP) assistance to the HRA of the City of Mound,
Minnesota, for the purpose of helping the HRA in carrying out capital and management
activities at the Indian Knoll Public Housing Development, and
WHEREAS, HUD allows Small PHAs to use their capital funds for operations; and
WHEREAS, using the capital funds for operations ensures no funds are forfeited and
increases the fund balance reserves; and
WHEREAS, using the capital funds for operations still allows the funds to be used for the
intended purpose of unit upgrades; and
WHEREAS, the HRA of the City of Mound has previously approved a 2015 Capital
Fund Annual Statement and a Five Year Action Plan for 2015 - 2019 for capital
improvements at the Indian Knoll Public Housing Development,
NOW THEREFORE, BE IT RESOLVED, The Board of the Mound Housing and
Redevelopment Authority approves the following revised 2015 Capital Fund Annual
Statement and Capital Fund Program Five Year Action Plan for 2015 — 2019, as
presented in Exhibit A and made a part herein.
Adopted this 24th day of March, 2015.
Chair Mark Wegscheid
Attest: Catherine Pausche, Clerk