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APPROPRIATE SB2 GRANT FUNDS <br />May 19, 2020 <br />Page 2 <br />Objective #2 (create new opportunities for business/job growth and encourage private <br />development through new General Plan and Zoning Ordinance policies), Strategy B (update zoning <br />ordinance and include equitable, innovative, business friendly zoning practices). <br />FISCAL IMPACT <br />The appropriate adjustment will recognize $625,000 in SB2 Grant funds in the revenue account <br />(no.15816002-52025) and appropriate the same to expenditure account (no. 15816500-Various). <br />PBAwill expend funds for project activity eligible under the grant, then recoup the costs by invoicing <br />HCD for reimbursement of the funds expended. <br />Funds are budgeted and available in the following Planning and Building expenditure accounts: <br />TYPE <br />A/U <br />ACCOUNT <br />FY2019/20 <br />TOTAL <br />REVENUE <br />15816002 <br />52025 <br />$625,000 <br />$625,000 <br />EXPENSE <br />15816500 <br />Various <br />$625,000 <br />$625,000 <br />JA/SM <br />Exhibits: 1. Resolution 2019-102 <br />2. Executed Standard Agreement <br />20E-2 <br />