HomeMy WebLinkAboutSummary FormAGENDA ITEM SUMMARY FORM
FILE ID:
Date: 11/08/2011
Commission Meeting Date: 12/08/2011
1!-
Law Department
Matter ID No.
Requesting Department: Community Development
District Impacted: 1,2,3,4,5
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance [1 Discussion Item
❑ Other
Subject: CDBG Funding: Economic Development 2012-2013
Purpose of Item:
AUTHORIZING THE ALLOCATION OF PROGRAM YEAR 2012-2013, COMMUNITY
DEVELOPMENT BLOCK GRANT ("CDBG") FUNDS, IN THE PROJECTED AMOUNT OF
$1,300,000 IN THE ECONOMIC DEVELOPMENT CATEGORY, TO THE AGENCIES
SPECIFIED IN ATTACHMENT "A," ATTACHED AND INCORPORATED AND THE
PROJECTED AMOUNT OF $2,357,051 TO THE DEPARTMENT OF COMMUNITY
DEVELOPMENT ECONOMIC DEVELOPMENT RESERVE ACCOUNT, FOR A TOTAL
PROJECTED AMOUNT OF $3,657,051, FOR ECONOMIC DEVELOPMENT ACTIVITIES IN
THE PROGRAM YEAR 2012-2013; AUTHORIZING THE CITY MANAGER TO EXECUTE THE
NECESSARY DOCUMENTS, FOR SAID PURPOSE.
Background Information:
Please see attached
Budget Impact Analysis
NO Is this item related to revenue?
NO Is this item an expenditure? If so, please identify funding source below.
General Account No:
Special Revenue Account No:
CIP Project No:
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
CIP
Final Approvals
(SIGN AND DATE)
Budget
If using'oi receiving capital funds
Grants
Purchasing
Chief
Risk Management
/ Dept. Director
ii ,D2 #/7- City Manager,
Page 1 of 1
AGENDA ITEM SUMMARY FORM CONTINUED
Background Information:
The U.S. Department of Housing and Urban Development ("HUD") has yet to release the final
Community Planning and Development Program Formula Allocations for Program Year 2012, as
such, the amount of CDBG Economic Development funds being recommended is a projection.
The funding allocation account may need to be adjusted proportionately once HUD confirms the final
CDBG formula allocation for Program Year 2012-2013.
The Administration recommends the allocation of Program Year 2012-2013 CDBG funds, in the
projected amount of $1,300,000 in the Economic Development category, to the agencies specified in
Attachment "A," attached and incorporated, and the projected amount of $2,357,051 to the
Department of Community Development Economic Development Reserve account, for a total
projected amount of $3,657,051, for economic development activities in the program year 2012-
2013.