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RESOLUTION NO. 2026-069 4 <br />f. First Cycle Waiver Authority: For the first registration cycle, the Program Administrator is <br />authorized to waive or reduce penalties at their discretion. <br /> <br />8. Master Fee Schedule Amended. The City’s Master Fee Schedule is hereby amended to include <br />the Rent Program fees established in Section 4 of this Resolution and the late registration <br />penalties established by Section 6. The City Manager is authorized to incorporate the FY 2027 fees <br />into the Master Fee Schedule. <br /> <br />9. General Fund Loan Approved. The City Council hereby approves a General Fund loan to the Rent <br />Program Special Revenue Fund in the amount of $2,230,500, on the following terms: <br /> <br />a. Loan Amount: $2,230,500, approximately equal to the FY 2027 Rent Program budget of <br />$2,230,433. <br /> <br />b. Interest Rate: 4.03% per annum. <br /> <br />c. Repayment: The loan shall be repaid from Rent Program fee revenues. The City may repay <br />the loan as a lump sum of all outstanding principal and accrued interest at any time <br />without penalty, or in installments at such times and in such amounts as determined by <br />the Finance Director based on program revenue performance. The repayment period shall <br />not exceed six (6) years from the date of initial loan disbursement. <br /> <br />d. Disbursement: The Finance Director is authorized to transfer loan proceeds from the <br />General Fund to the Rent Program Special Revenue Fund at the commencement of FY <br />2027 or at such earlier time as needed to fund program startup costs authorized in this <br />Resolution. <br /> <br />e. Annual Reporting: The Finance Director shall include the outstanding General Fund loan <br />balance, accrued interest, and repayment progress in the City’s annual comprehensive <br />financial report. <br /> <br />10. Effective Date. This Resolution shall take effect immediately upon adoption. The fees <br />established in Sections 4 and 5 shall apply to the first Rent Program registration cycle, with the <br />first fee payment due January 31, 2027. <br /> <br />Introduced by Councilmember Viveros-Walton and passed and adopted this 1st day of June 2026 <br />by the following vote: <br /> <br />AYES: Councilmember J. Aguilar, V. Aguilar, Boldt, Bowen, Simon, Viveros-Walton, and (7) <br /> Mayor González <br /> <br />NOES: None (0) <br /> <br />ABSENT: None (0) <br /> <br />ATTEST: <br />___________________________________ <br />Sarah K. Bunting <br />City Clerk