Public Township Council Meeting — Packet

SPENDING PLAN SUMMARY Balance as of 12-31-11 $2,584,397.64 PROJECTED REVENUE 2012-2018 Development fees + $700,000 Payments in lieu of construction + $00.00 Other funds + $00.00 Interest + $7,000 TOTAL REVENUE = $3,291,397.64 EXPENDITURES Funds used for Rehabilitation - $1,663,292.14 Funds used for New Construction 1. MOU on Special Needs - $250,000 Affordability Assistance - $777,341.62 Administration* - $600,763.88 Excess Funds for Additional Housing Activity = $ TOTAL PROJECTED EXPENDITURES = $3,291,397.64 REMAINING BALANCE = To the extent feasible and available, West Orange will utilize public funding. Only in the absence of public funds will West Orange utilize bonding. * Unexpended administrative funds will be used to fund affordable housing program deficits. 9