HomeMy WebLinkAbout2003-04-28 03-148 ORDERItem No. 03-148
Date: April 28,2003
Item/Subject ORDER - Adopting Revised Monthly Rental Rate Schedule for Park Woods
Transitional Housing Program
Responsible Department: Health and Welfare
Commentary:
The City of Bangor owns and operates (In conjunction with the Bangor Housing Authority) the Park
Wants Transtional Housing program. Periodically, monthly rental rates are analysed to detemrine
whether Increases are warranted orjustiffed. The last rate Increase was June, 2001.
A recent review has determined that the current charges are below the HUD Fair Market Rent Schedule.
If adopted as proposed, the new rate schedule would generate approximately $21,820 of additional
revenue on an annual basis. These new rates would become effective as won as new leases can he
implemented, tentatively July or August cf 2003.
Department Head
Manager's Comments:
This has been reviewed and approved by one Government: Operations Committee at Weir meeting on
April 16, 2003. �
City Manager
Associated Deformation:
Order, memorandum
Hnance Director
City Solicitor
Dhtemduced for
x Passage (Gmamlt)
_ FIrM Reading Page_ of
Referral
03-148
C z puigned to CounCilOr Gxeme APrtl 28, 2003
CITY OF BANGOR
(MLE.) Order, Adopting Revised Monthly Rental Rate Schedule for the Park Woods
Transitional Housing Program
By the City Council ofMe O'ly of Bangor.
ORDERED, THAT the following Monthly Rental Rate Schedule for Me Pah Woods Transitional
Housing Program is hereby adopted - -
Park Woods
Monthly Rental Costs
Tyoeigedmoms Current Rent
*SRO
mciency
3 and 4 Bedroom
*SRO— Single Room Occupancy
$250
$270
Proposed ReM
$275
$300
$535 $W5
And, be R further Ordered
that the remsed rental rates shall become effeclive as soon as rrew leases can be implemented
with tenants.
m cm CW6CIl.
Motion Made and Seconded
for Passage
Passed
Q
# 03-168
0 RRRR
(TITLE,(ndovring Revised Monthly Rental
Rape Sc r the parkoo" was tonal
Housing Program
TO:
Government Operations Committee
FROM:
_Mary -Aunt Chalila, Duecmr of Health&Welfare
RE:
Rant Imreeses At Park Woods
As part of the FY04 budget process, staff was asked to consider any revenue areas where
fees or charges should be reviewed. It has been two years since we last increased the rent
atPair Woods. During thattime the cost ofutilities has increased dramatically and with
it the On market rams in the Bangor. Based upon these changes, I am proposing that we
adopt the fallowing ramal increases for units at Park Woods. TTe new proposed ones
would become effective as soon as new leases can be implememed, either July 1a or
August 1°, 2003. 1 will plan to attend the Govemmcm Operations Committee meeting to
review this proposal and answer any questions that you over have.
Park Woods
Monthly Rana) Costs
Bedroom
Current Bent
HUD F§tr
med
Proposed
MmkN Bentnt
Gros
Be
Budget
et
3275
*SRO
250
27S
xsnsme�xu
39,600
Efficiency
2]0
376
0
zv v fix'x
?,200
1
0
459
0
2
0
$88
0
3&4
Bedroom
535
769
575
gs5h, x
248'400
295;200
$249,739 FYW
$295,200 - 6%vacancy rote= $2]],488 -10%mrtes
- $227,91.
adnetreve=$2 FY03 budgeted net revenues -$22],919. Net increase between
FY03 and FY04= $21,820.
FY03
Notes:" Single room occupancy share kitchen, bath and living room. Cumendy there are
no t nor 2 bedroom apartments m Pak Woods.