HomeMy WebLinkAboutSummary FormDate: 10/25/2012
AGENDA ITEM SUMMARY FORM
FILE ID: /A " D/30q
Law Department
Matter ID No.
Requesting Department: Community & Economic Development
Commission Meeting Date:12/13/2012 District Impacted: 1,2,3,4,5
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: CDBG Funding: Economic Development 2013-2014
Purpose of Item:
AUTHORIZING THE ALLOCATION OF PROGRAM YEAR 2013-2014, COMMUNITY
DEVELOPMENT BLOCK GRANT ("CDBG") FUNDS, IN THE PROJECTED AMOUNT OF
$2,557,716.70 IN THE ECONOMIC DEVELOPMENT CATEGORY, TO THE AGENCIES
SPECIFIED IN ATTACHMENT "A," ATTACHED AND INCORPORATED, FOR ECONOMIC
DEVELOPMENT ACTIVITIES IN THE PROGRAM YEAR 2013-2014; 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?
YES Is this item an expenditure? If so, please identify funding source below.
General Account No:
Special Revenue Account No: TO BE DETERMINED
GIP Project No:
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact: $2,557,716.70
Final Approvals
(SIGN AND DATE)
CIP Budget7 .7,
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If using or receiving capital funds kLkl
Grants Risk Management
Purchasing
Chief
Dept. Director
•
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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 2013, 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 2013-2014.
The Administration recommends the allocation of Program Year 2013-2014 CDBG funds, in the
projected amount of $2,557,716.70 in the Economic Development category, to the agencies specified
in Attachment "A," attached and incorporated, for economic development activities in the program
year 2013-2014.