City Council

OB2. Approve Budget Amendments as Presented. Approve an Additional Budget\nAppropriation of $500,000 to Account 001.4190.200.001 Utilizing Surplus Funds\nfrom Fiscal Year 2023-2024 Activity to Reduce the City’s Unfunded PERS\nLiability. Receive and File the Mid-Year Report.\nPage 2\nCity Council Agenda\nFor the Meeting of February 25, 2025 Page 3\nRECOMMENDATION:\nStaff recommends that the City Council approve the following items:\n• Approve Budget Amendments as detailed in Attachment 1.\n• Approve appropriating an additional $500,000 to the PERS Retirement\nContribution account #001-4190-200-001, utilizing FY 2023-2024 surplus\nfunds to pay down the City‘s unfunded pension liability.\n• Receive and File the Mid-Year Report.\nPUBLIC HEARING ITEMS\nPH1. Consideration and Approval of the Proposed Permanent Local Housing Allocation\n(PLHA) Funding Budget\nRECOMMENDATION:\nStaff recommend that the City Council:\n• Conduct the Public Hearing for PLHA Program Year 5 Funding.\n• Adopt Resolution 2025 – 11 approving the proposed PLHA Activity and\nSub-Activity and allocation as outlined.\n• Approve the Reallocation of Program funds for Year 4 PLHA from Sub-\nActivity Rental Assistance to Supportive Case Management.\n• Authorize the City Manager or his designee to execute any and all\ndocuments necessary to further the projects herein, including but not limited\nto amendments and modifications thereto for the PLHA Program with the\nLos Angeles County Development Authority (LACDA) and the amendment\nwith the Los Angeles Center for Alcohol and Drug Abuse.\nORAL COMMUNICATIONS\n(Members of the Audience (Speakers are limited to (3) minutes or as may be determined by\nthe Chair.)\nCITY REPORTS