Information
Type: Deliberation
Department: AUD - Auditor
Directors' Update: Dec. 17, 2025
Business Meeting: Dec. 23, 2025
Summary:Extend the existing interfund loan from REET II to the Homeless Shelter Capital Fund
Publications:
Cover Letter To:
Additional Copies To:
Resolution
EXTEND THE EXISTING INTERFUND LOAN FROM REET II FUND NO. 3120 TO THE HOMELESS SHELTER CAPITAL FUND NO. 3500
WHEREAS, the Board of County Commissioners (BOCC) authorized a temporary interfund loan from the Real Estate Excise Tax (REET II) Fund No. 3120 to the Homeless Shelter Capital Fund No. 3500 via Resolution 23-323 to cover the negative cash position until anticipated revenues are received; and
WHEREAS, Resolution 25-056 extended the loan through December 31, 2025; and
WHEREAS, the Homeless Shelter capital project is nearing the closeout phase and requires an extension of the cash-flow loan until the final draw down from the Department of Commerce Housing Trust Fund loan is made.
NOW THEREFORE BE IT RESOLVED the BOCC approves the extension of the existing interfund loan, on an as-needed basis, from REET II Fund No. 3120 to the Homeless Shelter Capital Fund No. 3500 until June 30, 2026. This extension does not provide additional cash flow beyond the original loan of $500,000.
DONE IN OPEN SESSION this 23rd day of December, 2025.