Trust fund reports $868,000 allocated year-to-date; available balance read at meeting

At the June 10 meeting of the Evansville City Affordable Housing Trust Fund, committee member Corey Kemp presented the financial report and said the Trust Fund has spent or allocated $868,000 since the start of the year.

Kemp said roughly $450,000 of that total went to ‘‘TP Park developers’’ and $105,500 was allocated for ECHO. When asked for the available balance, Kemp read an amount into the record: "$11,096,007.99" (read aloud). He also described routine administrative costs and smaller supply expenditures included in the account overview.

Why it matters: the report gives the committee a current picture of how much the Trust Fund has committed and what remains available for new allocations.

Committee discussion and clarifications During the financial update staff explained one homeowner had completed a set of stairs herself after waiting for the program to open purchase orders; the program canceled a small remaining siding contract and staff said about "dollars 8,000 and some change" remained from that canceled contract to reallocate. Kemp said that some amounts were recorded as spent and others committed to active projects.

The committee did not take separate action on the financial report; members asked clarifying questions and then proceeded to new business.

Clarifying details noted in the meeting - Year-to-date allocated/spent amount: $868,000 (as reported by staff). - Notable allocations cited: roughly $450,000 to TP Park developers; $105,500 to ECHO. - Canceled contract remainder: staff estimated about $8,000 remains from a canceled siding contract.

Staff and members said the written financial packet was available to committee members for verification of figures and suggested any discrepancies be resolved via the packet and finance staff.