HomeMy WebLinkAbout103-SHARP Transfer Request.pdf
CITY OF SARATOGA 13777 FRUITVALE AVEN March 2, 2011 Judy Borah Office of Affordable Housing
Housing and Community Development 2310 North First Street San Jose, CA 95112 Re: Transfer Request of SHARP Funds Dear Ms. Borah: Despite outreach efforts to various community organizations
and media outlets, the City has not received any requests for SHARP funds in the past few years. The City is aware of the HUD requirement to expend CDBG funding in a timely matter. In
order to reduce the City’s CDBG timeliness ratio to an acceptable amount, it is necessary to transfer these unexpended funds. I am writing to inform you that the City Council has authorized
a request to transfer $118,172.77 in SHARP funds and $26,000 in unused SHARP administration funds to the Unincorporated Housing Rehabilitation Program. The effect of this transfer would
zero out accounts SA04-51 ($77,020.77), SA05-51 ($41,152.00), SA10-53 ($13,000), and SA11-53 ($13,000). Please find attached the required form to process this transfer request. If you
have any questions, please contact Cynthia McCormick at (408) 868-1230. Sincerely, Dave Anderson City Manager Attachment: Cities/Towns Transfer Control Record