FY 17 Annual Report

Capital Improvements Fund

2017

CITY OF SPENCER, IOWA

CHI HOUSING

PROJECT #106

PROJECT INFORMATION

Community Housing Initiative (CHI) applied for and received state tax credits in relation to the building of new income qualified housing units. The project consists of the construction of 30 apartment units that will be income based. As part of the state tax credit application, the community was to be involved in the project. As such, the City was the clearing house for the community donations and this project reflects that activity. The City's participation in the project included the giving of land and tax abatement for the project over a 10 year period.

FY 2017 ACTUAL

PRIOR YEARS

PROJECT

PRIOR YEARS

TOTAL

REVENUES

MISCELLANEOUS TRANSFERS IN DONATIONS

1.00

1.00

44,908.08

44,908.08

278.71

-

278.71

-

TOTAL REVENUES

278.71

44,909.08

45,187.79

EXPENDITURES CONSTRUCTION ENGINEERING

39,737.40 4,780.63

39,737.40 4,780.63

LEGAL

389.45 105.31

MISCELLANEOUS

175.00

280.31

175.00

45,012.79

44,798.34

-

TOTAL EXPENDITURES

CAPITAL IMPROVEMENTS