The Monticello City Council met in regular session last night
(Monday) and approved several documents related to the $1 million
scattered housing project in the city. The CDBG grant funds will be
used to construct nine or ten homes in the city, and the project will
be administered by Kriss Lowry and Associates. The council approved
the contract with the firm on Monday as well as a resolution that
allows the city to apply for additional gap funding that could
construct another two or three homes as part of the project.
The city will provide a $10,000 match for the CDBG funding. The
first projects could begin in late September or in October, according
to officials.
In other action during Monday's meeting, the council approved a
temporary transfer of $140,410 from a Certificate of Deposit to the
general fund. The money comes from principal paid from the sale of
the Monticello Electric Plant Board. It will be transferred back to
the CD, when city revenues increase.
Clerk Treasuer Greg Latham provided the council with a financial report regarding the fiscal year which just ended. He noted that revenues for last year were down about $35,000 from what was budgeted. Expenses were down about $14,000 from what was budgeted.

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