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Home My WebLink Aboutagenda.council.worksession.202110251 AGENDA CITY COUNCIL WORK SESSION October 25, 2021 4:00 PM, City Council Chambers 130 S Galena Street, Aspen WEBEX MEETING INSTRUCTIONS WEBEX MEETING INSTRUCTIONS TO JOIN ONLINE: Go to www.webex.com and click on "Join a Meeting" Enter Meeting Number: 2551 221 8142 Enter Password: 81611 Click "Join Meeting" -- OR -- JOIN BY PHONE Call: 1-408-418-9388 Enter Meeting Number: 2551 221 8142 Enter Password: 81611 I.WORK SESSION I.A.2022 Recommended Budget Review APCHA; Smuggler; ACI; Truscott II, Truscott I, Marolt, Housing Development; Aspen Mini Storage; Employee Housing 1 2022 BUDGET DEVELOPMENTHousing Administration Fund (620 Fund)October 25, 2021Diane Foster, Assistant City ManagerMatthew Gillen, Executive DirectorCindy Christensen, Deputy Director2 APCHA by the Numbers2•Ownership Units – 1,663•Rental Units – 1,425•Estimated Residents in Deed Restricted Units:•Ownership Units Based On The Affidavits – 3,222 (Incls Dependents)•Rental Units – 1,782 (Incls Dependents)•City Of Aspen FT Population 2020 – 7,247•Pitkin County FT 2020 Census – 17,358•% Of Aspen’s FT Population In Deed‐restricted Housing (w/in Pitkin County) ≈ 34%3 Revenues3City ‐Subsidy21%County ‐Subsidy21%Unallocated23%Facilities Maintenance8%Management Fees27%2022 2023 2024 2025 2026Request Projection Projection Projection ProjectionOpening Balance $710,684 $368,224 $315,424 $317,794 $328,544City ‐Subsidy (50%) $392,900 $615,750 $684,700 $748,900 $799,050County ‐Subsidy (50%) $392,900 $615,750 $684,700 $748,900 $799,050Unallocated Revenues $430,000 $435,470 $445,150 $453,920 $463,140Facilities Maintenance $139,730 $145,720 $152,020 $158,650 $165,630Management Fees $497,860 $507,830 $517,990 $528,340 $538,900Revenues In $1,853,390 $2,320,520 $2,484,560 $2,638,710 $2,765,770Other Revenues $750,000 $150,000 $60,000 $0 $0Total Revenues $2,603,390 $2,470,520$2,544,560 $2,638,710 $2,765,770 4 Expenditures4Admin & Facilities64%Housing Sales & Rentals34%Other2%Operating Budget2022 2023 2024 2025 2026Request Projection Projection Projection ProjectionOther Expenditures $39,120 $40,490 $41,910 $43,380 $44,900Administrative $1,363,700 $1,304,460 $1,346,820 $1,390,660 $1,436,160Facilities Maintenance $237,020 $248,290 $259,870 $271,800 $284,090Housing Sales & Rental $806,010 $835,080 $865,390 $897,120 $930,350Operating $2,445,850 $2,428,320$2,513,990 $2,602,960 $2,695,500Capital $500,000 $95,000 $28,200 $25,000 $55,000Total Uses $2,945,850 $2,523,320 $2,542,190 $2,627,960 $2,750,500Targeted Reserve (12.5%) $368,231 $315,415 $317,774 $328,495 $343,813Ending Fund Balance $368,224 $315,424 $317,794 $328,544 $343,814Ending Balance as % of Target 100% 100% 100% 100% 100%12.32 FTE5 2022 Work Plan Highlights5•Contract for Grant Research/WriterTeam• Reduce Licensing Costs•Monthly ReportsHomeTrek•Board, Customer & Staff requested changes (OEZ, right sizing, etc.)Regulations6 2022 Work Plan Highlights6• English & Spanish Documents•APCHA by the NumbersCommunity Engagement•New Home Inspection Program•Develop & Implement Capital Repairs Program, including fundingSellers Standards for Maintenance & Major Capital Repairs•Review Topic History•Develop Strategy to Address Insufficient HOA Capital ReservesHOA Capital Reserves7 2022 Supplemental Requests7Grants Consultant ‐$100,000 (One‐time)•Research & Write Applications•Specifically Focused on Housing MaintenanceTab 9 Component Unit Funds, 620 Fund, Page 1 in Budget Book8 8Summary Housing Admin Fund QuestionsWork Plan: 6ElementsSupplementals: $100,000Capital: $500,000 –Purchase of Foreclosed Units9 2022 BUDGET DEVELOPMENTSmuggler Housing Fund (622 Fund)October 25, 2021Diane Foster, Assistant City ManagerMatthew Gillen, Executive DirectorCindy Christensen, Deputy Director10 Smuggler by the Numbers10•Total Number of Rental Units –11•Estimated Total Residents in Smuggler ‐13 Pictures…11 Revenues11Rental Income95%Other5%2022 2023 2024 2025 2026Request Projection Projection Projection ProjectionOpening Balance $424,729 $420,369 $430,359 $448,189 $431,059Rental Income ‐Permanent $76,500 $78,030 $79,590 $81,180 $82,800Late Rent Fees $100 $100 $100 $100 $100Investment Income $4,000 $6,310 $8,610 $8,960 $8,620Revenues In $80,600 $84,440 $88,300 $90,240 $91,520Total Revenues $80,600 $84,440 $88,300 $90,240 $91,520 12 Expenditures12Administrative22%Housing Sales & Rental14%Facilities Maintenance`64%Operating Budget2022 2023 2024 2025 2026Request Projection Projection Projection ProjectionAdministrative $14,350 $14,740 $15,130 $15,520 $15,910Facilities Maintenance $42,860 $44,050 $45,280 $46,580 $47,920Housing Sales & Rental $9,190 $9,380 $9,560 $9,750 $9,950Operating $66,860 $68,650 $70,470 $72,370 $74,320Capital $18,100 $5,800 $0 $35,000 $5,200Total Uses $84,960 $74,450 $70,470 $107,370 $79,520Targeted Reserve (12.5%) $10,620 $9,306 $8,809 $13,421 $9,940Ending Fund Balance $420,369 $430,359 $448,189 $431,059 $443,059Ending Balance as % of Target 3,958% 4,624% 5,088% 3,212% 4,457%0.17 FTE13 13Summary Smuggler FundQuestionsWork Plan:Supplementals: $0Capital: $18,10014 2022 BUDGET DEVELOPMENTACI Affordable Housing Fund (642 Fund)October 25, 2021Diane Foster, Assistant City ManagerMatthew Gillen, Executive DirectorCindy Christensen, Deputy Director15 ACI by the Numbers15•Total Number Of Rental Units –40•Estimated Total Residents In APCHA Deed Restricted Units ‐43Pictures…16 Revenues16Rental Income95%Section 83%Other2%2022 2023 2024 2025 2026Request Projection Projection Projection ProjectionOpening Balance $112,930 $133,130 $156,400 $182,850 $211,880Rental Income ‐Permanent $367,200 $374,540 $382,030 $389,670 $397,460Late Rent Fees $1,000 $1,020 $1,040 $1,060 $1,080Laundry $4,700 $4,790 $4,890 $4,990 $5,090Section 8 Housing Assistance $10,000 $10,200 $10,400 $10,610 $10,820Investment Income $100 $2,000 $3,130 $3,660 $4,240Other Revenues $3,350 $2,490 $2,530 $2,570 $2,620Revenues In $386,350 $395,040 $404,020 $412,560 $421,310Total Revenues $386,350 $395,040 $404,020 $412,560 $421,310 17 Expenditures17Admin12%Facilities Maintenance69%Housing Sales & Rental19%Operating Budget2022 2023 2024 2025 2026Request Projection Projection Projection ProjectionAdministrative $27,810 $28,350 $28,910 $29,480 $30,070Facilities Maintenance $155,890 $160,070 $164,420 $168,890 $173,550Housing Sales & Rental $44,180 $45,070$45,970 $46,890 $47,820Operating $227,880 $233,490 $239,300 $245,260 $251,440Debt Service $138,270 $138,280 $138,270 $138,270 $138,280Total Uses $366,150 $371,770 $377,570 $383,530 $389,720Targeted Reserve (12.5%) $45,769 $46,471$47,196 $47,941 $48,715Ending Fund Balance $133,130 $156,400 $182,850 $211,880 $243,470Ending Balance as % of Target 291% 337% 387% 442% 500% 18 18Summary ACI Housing FundQuestionsWork Plan:Supplementals: $0Capital: $019 2022 BUDGET DEVELOPMENTTruscott II Housing Fund (641 Fund)October 25, 2021Diane Foster, Assistant City ManagerMatthew Gillen, Executive DirectorCindy Christensen, Deputy Director20 Truscott II by the Numbers20•Total Number of Rental Units –87•Estimated Total Residents in APCHA deed restricted units ≈ 126Pictures…21 Revenues21Rental Income96%Section 81%Other Revenues3%2022 2023 2024 2025 2026Request Projection Projection Projection ProjectionOpening Balance $443,577 $651,727 $890,847 $1,148,277 $1,421,197Rental Income ‐Permanent $1,152,600 $1,175,650 $1,199,160 $1,223,140 $1,247,600Late Rent Fees $4,000 $4,080 $4,160 $4,240 $4,320Laundry $6,500 $6,630 $6,760 $6,900 $7,040Section 8 Housing Assistance $7,000 $7,140 $7,280 $7,430 $7,580Investment Income $3,800 $9,780 $17,820 $22,970 $28,420Other Revenues $25,850 $26,170$26,700 $27,230 $27,780Total Revenues $1,199,750 $1,229,450$1,261,880 $1,291,910 $1,322,740 22 Expenditures22Administrative27%Facilities Maintenance73%Operating Budget2022 2023 2024 2025 2026Request Projection Projection Projection ProjectionAdministrative $116,950 $119,280 $121,660 $124,100 $126,590Facilities Maintenance $323,920 $332,540 $341,450 $350,660 $360,200Operating $579,660 $593,390 $607,510 $622,050 $637,020Capital $15,000 $0 $0 $0 $0Debt Service $396,940 $396,940 $396,940 $396,940 $396,940Total Uses $991,600 $990,330 $1,004,450 $1,018,990 $1,033,960Targeted Reserve (12.5%) $123,950 $123,791 $125,556 $127,374 $129,245Ending Fund Balance $651,727 $890,847 $1,148,277 $1,421,197 $1,709,977Ending Balance as % of Target 526% 720% 915% 1,116% 1,323% 23 23Summary Truscott II FundQuestionsWork Plan:Supplementals: $0Capital: $15,00024 2022 BUDGET DEVELOPMENTTruscott Place Phase I (491 Fund)Cindy Christensen, Deputy DirectorOCTOBER 25, 20212425 Truscott by the Numbers25•Total Number of Rental Units – 109•Estimated Total Residents in APCHA deed restricted units ≈ 129Pictures…26 Revenues26Rental Income91%Laundry2%APCHA Office6%Other Revenues1%2022 2023 2024 2025 2026Request Projection Projection Projection ProjectionOpening Balance $637,853 $850,743 $1,107,283 $1,436,163 $512,723Rental Income $1,326,000 $1,352,520 $1,379,570 $1,407,160 $1,435,300Late Rent Fees $3,500 $3,570 $3,640 $3,710 $3,780Laundry $30,000 $30,600$31,210 $31,830 $32,470Parking Fees $150 $150 $150 $150 $150Investment Income $6,000 $12,760 $22,150 $28,720 $10,250APCHA Office Lease $85,000 $90,000 $95,000 $100,000 $105,000Other Revenues $5,560 $5,670 $5,780 $5,890 $6,000Revenues In $1,456,210 $1,495,270 $1,537,500 $1,577,460 $1,592,950Total Revenues $1,456,210 $1,495,270$1,537,500 $1,577,460 $1,592,950 27 Expenditures27Non‐Classified0%Administrative3%Facilities Maintenance74%Housing Sales & Rental23%Operating Budget2022 2023 2024 2025 2026Request Projection Projection Projection ProjectionNon‐Classified $3,490 $3,610 $3,740 $3,870 $4,010Administrative $20,040 $20,450 $20,860 $21,280 $21,710Facilities Maintenance $515,770 $528,740 $542,130 $555,950 $570,200Housing Sales & Rental $159,540 $162,730 $165,990 $169,300 $172,690Operating $698,840 $715,530 $732,720 $750,400 $768,610Capital $270,980 $197,200 $97,300 $1,319,200 $182,700Transfers Out $273,500 $326,000 $378,600 $431,300 $584,100Total Uses $1,243,320 $1,238,730 $1,208,620 $2,500,900 $1,535,410Targeted Reserve (12.5%) $155,415 $154,841 $151,078 $312,613 $191,926Ending Fund Balance $850,743 $1,107,283 $1,436,163 $512,723 $570,263Ending Balance as % of Target 547% 715% 951% 164% 297%1.30 FTE28 Capital Projects28•Replace free‐standing mailbox center at 100 building and 1000•Replace snowblower•Replacing carpet, appliances, etc., when a unit turns over29 29Summary Truscott IQuestionsWork Plan:Supplementals: $0Capital: $270,98030 2022 BUDGET DEVELOPMENTMarolt Ranch (492 Fund)Cindy Christensen, Deputy DirectorOCTOBER 25, 20213031 Marolt by the Numbers31•97 Seasonal Rental Units, 3 City Employee Housing Units•280 Music Festival Students In The Summer, •200 (Variable) Seasonal Residents In The Winter 32 Revenues32Rental Income92%Laundry2%Parking1%Cafeteria1%Other Revenues4%2022 2023 2024 2025 2026Request Projection Projection Projection ProjectionOpening Balance $802,603 $646,423 $513,273 $402,853 $375,573Rental Income (Seasonal) $1,200,000 $1,224,000 $1,248,480 $1,273,450 $1,298,920Laundry $20,000 $20,400$20,810 $21,230 $21,650Parking Fees $15,000 $15,300 $15,610 $15,920 $16,240Cafeteria Lease $18,000 $18,360$18,730 $19,100 $19,480Investment Income $8,000 $9,700 $10,270 $8,060 $7,510Other Revenues $41,000 $41,820$42,660 $43,510 $44,380Revenues In $1,302,000 $1,329,580 $1,356,560 $1,381,270 $1,408,180Total Revenues $1,302,000 $1,329,580$1,356,560 $1,381,270 $1,408,180 33 Expenditures33Admin & Facilities73%Sales & Rental27%Operating Budget2022 2023 2024 2025 2026Request Projection Projection Projection ProjectionAdministrative $7,720 $7,870 $8,030 $8,190 $8,350Facilities Maintenance $392,490 $402,810 $413,490 $424,540 $435,980Housing Sales & Rental $146,160 $149,080 $152,070 $155,110 $158,210Operating $549,630 $563,130 $577,080 $591,450 $606,280Capital $153,750 $143,000 $131,300 $106,600 $103,100Transfers Out $754,800 $756,600 $758,600 $710,500 $712,600Total Uses $1,458,180 $1,462,730 $1,466,980 $1,408,550 $1,421,980Targeted Reserve (12.5%) $182,273 $182,841 $183,373 $176,069 $177,748Ending Fund Balance $646,423 $513,273 $402,853 $375,573 $361,773Ending Balance as % of Target 355% 281% 220% 213% 204%1.21 FTE34 2022 Capital Projects34•Exterior Painting: $32,000•General Maintenance: $121,75035 35Summary MaroltQuestionsWork Plan:Supplementals: $0Capital: $153,75036 2022 BUDGET DEVELOPMENTHousing Development (150 Fund)Rob Schober, DirectorOCTOBER 25, 20213637 What We Do:37•Community Engagement•Affordable Housing Needs Analysis•Housing Design & Development•Financial Analysis and Planning•Land Acquisition•Future Housing OpportunitiesBurlingame III ‐Set & Stitch 202138 Completed Housing Developments3839 Housing Developments In Process39517 Park Circle – Planning 2017517 Park Circle – Occupied 202040 Revenues40RETT33%Sales Tax8%Investments2%Other1%Facilities5%Burlingame 3 Sales51%2022 2023 2024 2025 2026Request Projection Projection Projection ProjectionOpening Balance $37,142,405 $29,108,525 $43,341,665 $74,733,385 $34,099,275RETT $8,000,000 $8,320,000 $8,652,800 $8,998,900 $9,358,900Sales Tax $1,935,000 $2,012,400 $2,092,900 $2,176,600 $2,263,700Investment Income $371,000 $436,630 $866,830 $1,494,670 $681,990Other Non‐classified $270,600 $276,010 $281,530 $287,160 $292,900Facilities Maintenance $1,198,280 $1,222,250 $1,246,700 $1,271,630 $1,297,060Burlingame 3 ‐Sale $12,500,000 $7,500,000 $0 $0 $0Burlingame 3 ‐2 SFHs $0 $0 $3,000,000 $0 $0New Debt Service $0 $0$70,000,000$0 $0Revenues In $24,274,880 $19,767,290 $86,140,760 $14,228,960 $13,894,550Transfers In $900,000 $950,000 $1,400,000 $1,400,000 $1,350,000Total Revenues $25,174,880 $20,717,290 $87,540,760 $15,628,960 $15,244,5502022 Planned Revenues for Burlingame III Sales is Dependent Upon Maintaining Schedule and Selling 50 of 79 Units in 202241 Expenditures41Administrative86%Facilities Maintenance14%Operating Budget2022 2023 2024 2025 2026Request Projection Projection Projection ProjectionNon‐Classified $5,550 $5,740 $5,940 $6,150 $6,370Administrative $525,170 $759,850 $834,850 $905,260 $962,110Facilities Maintenance $83,970 $85,640 $87,340 $89,090 $90,870Operating $614,690 $851,230 $928,130 $1,000,500 $1,059,350Capital $31,599,280 $4,603,170 $50,107,220 $50,111,450 $30,115,880Transfers Out $994,790 $1,029,750 $5,113,690 $5,151,120 $5,189,730Total Uses $33,208,760 $6,484,150 $56,149,040 $56,263,070 $36,364,960Ending Fund Balance $29,108,525$43,341,665 $74,733,385 $34,099,275 $12,978,865xChange in Fund Balance ($8,033,880)$14,233,140 $31,391,720($40,634,110)($21,120,410)2.0 FTE2022 Capital Budget Breakdown: $31,599,280•Burlingame Ranch Phase III $10,000,000•Lumberyard $1,500,000•Future Development Opportunities $20,000,000•Capital Labor $99,280 42 2022 Work Plan Highlight42Burlingame Ranch Phase 3 (No New Resources Requested)Determine Income Category DistributionDefine Lottery/Sales ProcessComplete Construction & Procure CO’sEstablish New Condominium AssociationFacilitate Sales & Occupancy, Begin 2‐Year Warranty PeriodOperate New Condo Association During Declarant Control43 2022 Work Plan Highlight43Lumberyard(No New Resources Requested)Complete Schematic Design & Development ApplicationIssue RFQ/P for PPP Private Development OpportunitiesSubmit Development ApplicationLand Use Entitlements / Development Approval ProcessDesign Development & Development AgreementDocument and Record Planned Development44 Supplemental Requests44Housing Policy Analyst $107,850 (1.0 FTE On‐going)•Focus on Policy Analysis & Updates for COA & APCHA•Additional Focus on Strategic Planning•Help Extend Use of HomeTrek in Policy Work•Allows Better Responsiveness to Council Driven Requests•Increased Administrative SupportTab 3 Supplemental Requests, Page 23 in Budget Book45 2022 Capital Projects45Burlingame Ranch Phase 3Task Level BudgetDesign & Engineering $8,038,102Hard Construction $44,200,000Appropriations by YearPrior Years $42,238,1022022 $10,000,000Out Years $0Lifetime Budget $52,238,102Burlingame Ranch Phase 3 Program:•79 For‐Sale Units•1‐2‐and 3‐Bedroom Units•Income Categories 2 through 5 (TBD City Council 2022)•Available Beginning Sept –Oct 202246 2022 Capital Projects46Lumberyard Housing DevelopmentTask Level BudgetOwner Management Expense $675,000Design & Engineering $6,700,000Hard Construction Costs $113,300,000Project Contingencies $13,400,000Total Appropriations by YearPrior Years $1,425,0002022 1,500,000Out Years $331,150,000Lifetime Budget $334,075,000Tab 8, 150 Fund, Page 4 in Budget BookLumberyard Program:~ Subject to change, future Council decisions~ 310 Units … 2/3 For‐Rent, 1/3 For‐Sale~ 60% Studio and 1‐Bedroom Units~ 30% 2‐Bedroom Units~ 10% 3‐Bedroom Units~ Income Categories 1 through 5~ Tentative Construction Start 2024•Fall 2021 Supplemental: $350,000 •(Previously Approved July 27, 2021, Reso #70)Phase 1 Construction Costs47 47Summary Housing DevelopmentQuestionsWork Plan:1) Complete/Occupy Burlingame Phase 32) Lumberyard Entitlements & Design2022 Supplementals: $107,850 –1.0 FTECapital: $31,599,28048 2022 BUDGET DEVELOPMENTAspen Mini Storage LLC (670 Fund)Pete StreckerOCTOBER 25, 20214849 Revenues & Expenditures492022 2023 2024 2025 2026Request Projection Projection Projection ProjectionOpening Balance $0$0$0$0$0Storage Rentals $634,400 $659,780 $686,170 $0 $0Total Revenues $634,400 $659,780 $686,170 $0 $0Aspen Mini Storage Operations $634,400 $659,780 $686,170 $0 $0Total Uses $634,400 $659,780 $686,170 $0 $0GAAP AdjustmentsEnding Fund Balance $0$0$0$0$0•Purchased (150 Fund) Feb 2020 for Eventual Lumberyard Housing Development•Annual Rent Due to Housing Development Fund Is Net Profit on Operations50 50Summary Aspen Mini StorageQuestionsWork Plan SupplementalsCapital51 2022 BUDGET DEVELOPMENTEmployee Housing (505 Fund)Rob Schober DirectorOCTOBER 25, 20215152 What We Do:•Develop, Manage & Maintain Employee Housing•Manage Down Payment Assistance Program & City Assets•Recruit & Retain Exceptional Workforce For The Community52550 E. Main St.BurlingameWater PlaceSafe & Lived‐in Community of Choice 53 Revenues53Rental Income78%Investments22%2022 2023 2024 2025 2026Request Projection Projection Projection ProjectionOpening Balance $5,538,411 $6,811,871 $9,232,541 $11,797,891 $840,201Rental Income $200,000 $204,000 $208,080 $212,240 $216,480Investment Income $55,000 $102,180 $184,650 $235,960 $16,800Revenues In $255,000 $306,180 $392,730 $448,200 $233,280Transfers In $2,565,100 $2,742,400 $2,822,900 $2,903,800 $2,984,000Total Revenues $2,820,100 $3,048,580$3,215,630 $3,352,000 $3,217,280 54 Expenditures54Down Payment Asst.27%Facilities Maintenance73%Operating Budget2022 2023 2024 2025 2026Request Projection Projection Projection ProjectionDown Payment Assistance $60,000 $60,000 $60,000 $60,000 $60,000Facilities Maintenance $164,640 $167,910 $171,280 $174,690 $178,170Operating $224,640 $227,910 $231,280 $234,690 $238,170Capital $1,322,000 $400,000 $419,000 $14,075,000 $312,000Total Uses $1,546,640 $627,910 $650,280 $14,309,690 $550,170Ending Fund Balance $6,811,871 $9,232,541 $11,797,891 $840,201 $3,507,311 55 2022 Work Plan Highlight55New Housing DesignMulti‐year Capital ProjectsWater Place Phase II & Main Street CabinLeads to Increased Employee Housing Options56 2022 Capital Projects56Water Place Phase II Design•Restart of Project – Entitlements on Existing Plan• Continue Extensive Public Outreach to Determine # Units•Construction Estimated to Start 2025Task Level BudgetOwner Management Expense $18,000Design & Engineering $900,000Project Contingencies $81,918Appropriations by YearPrior Years $374,9182022 $625,000Out Years $0Lifetime Budget $999,918Tab 8, 505 Fund, Page 3 in Budget Book57 2022 Capital Projects57Main Street Cabin Housing•Start Conversion from Office to Housing• Construction Begins When Power House Offices Complete (2025)Task Level BudgetDesign & Engineering $252,000Hard Construction $1,638,000Project Contingencies $210,000Appropriations by YearPrior Years $02022 $315,000Out Years $1,785,000Lifetime Budget $2,100,000Tab 8, 505 Fund, Page 4 in Budget Book58 2022 Capital Projects58Water Place Roof Replacement•20 Year‐old Shingle Roofs at End‐of‐Life• Phased Over 3 Years –Priority on Safety & Snow/Ice BuildupTask Level BudgetHard Construction $405,000Project Contingencies $45,000Appropriations by YearPrior Years $02022 $150,000Out Years $300,000Lifetime Budget $450,000Tab 8, 505 Fund, Page 5 in Budget Book59 59Summary Employee HousingQuestionsWork Plan: 1) New Housing DesignSupplementals: $0Capital: $1,546,00060