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Blaine County Housing Authority seeks steady funding, flags $250,000 expected from property sale
Summary
David Patrie told Sun Valley councilors the Housing Authority will offer additional services in FY2017 for the same contract payment, and said the authority expects approximately $250,000 from the sale of a foreclosed home (less debt repayment).
David Patrie, Executive Director of the Blaine County Housing Authority, presented the Authority’s FY2017 proposal to the Sun Valley City Council, saying the organization plans to increase services while holding the city’s contract-for-services payment at the same level. He outlined major 2016 initiatives, revenue streams and stressed that base funding from contracts is essential for operations.
On an asset question, Patrie said the Housing Authority expects "about $250,000 from the sale of that home minus the debt repayment." Councilors asked follow-up questions about financing and whether rental income covers mortgage costs; Patrie said the rent on the foreclosed home is “almost the exact amount of the mortgage” and that a draft budget with an expense breakdown would be sent to the council.
