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Clarification on capital expenses and Neighborhood Restore costs in TPT program

2:11:58

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Council Member Sanchez seeks clarification on capital expenses and Neighborhood Restore costs within the Third Party Transfer (TPT) program, with Deputy Commissioners providing detailed explanations.

Neighborhood Restore's funding structure has evolved from initial seed capital to an acquisition fee added to the budget
A reserve held by Neighborhood Restore helps manage ongoing administration and emergency repairs
Current annual expense budget includes $800,000 in tax levy dollars, with $400,000 going to Neighborhood Restore and $400,000 for utilities
Neighborhood Restore's primary source for ongoing administration is now through the capital budget

Pierina Sanchez

2:11:58

Thank you.

2:11:59

And when you say, so again you know focused on past administration of the program, a hundred $64,000 on average per unit, is that the only capital expense that there was?

2:12:12

Was the neighborhood restore funds, obviously staffing costs are expense, but neighborhood restore costs incurred, is that capital or expense?

2:12:21

Anything So initially

Kim Darga

2:12:23

there was seed capital that went to Neighborhood Restore.

2:12:28

In more recent rounds what we do is we add an acquisition fee to the budget, and that acquisition fee goes into a reserve held by Neighborhood Restore, and that then helps them manage ongoing administration.

2:12:43

So if the building that is transferred as part of the program, let's say there's not sufficient revenue to cover emergency repairs, there's a pod of resources.

2:12:55

We also have supplemented that historically through a combination of CDBG and expense funding.

2:13:01

More recently it's expense funded.

2:13:04

I'm looking at my colleagues from budget.

2:13:25

Yeah.

2:13:26

So at this point in time, Neighborhood Restores, the primary source for Neighborhood Restores ongoing administration is through the capital budget.

Gardea Caphart

2:13:06

Yeah, and on the expense side in our budget we have $800,000 a year right now.

2:13:12

It used to be a split of CDBG and tax levy dollars, but now it's all tax levy dollars.

2:13:17

And $400,000 of that goes to Neighborhood Restore as mentioned earlier, and it's another 400,000 that we spend on different utilities as needed.

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