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Operating Subsidy <br />Over the past two years staff and Barcelon have been successful in receiving an annual <br />operating subsidy from HUD. The current budget anticipates an additional $108,000 <br />from this source in FY 2008/09 based on recent trends and information from HUD. An <br />application for the FY 2008/09 Operating Subsidy has already been submitted and <br />management is awaiting approval from HUD. Operating Subsidy has generally been <br />transferred to the Housing Authority account in quarterly disbursements. <br />Submitted by: <br />~~~~~ <br />Steven Bocian <br />Assistant City Manager <br />Fiscal Review: <br />1 <br />David P. Culver ~' <br />Finance Director <br />Approved ~y: <br />Nelson Fialho <br />City Manager <br />Attachments: <br />1. Draft Resolution <br />2. Annual Operating Budget for Kottinger Place for FY 2008/09 <br />Page 4 of 5 <br />