HomeMy WebLinkAboutSummary FormDate: 10/23/2013
AGENDA ITEM SUMMARY FORM
FILE ID: 13 -a 2-9 (O
Law Department
Matter ID No.
13-2528
Requesting Department: Community & Economic Development
Commission Meeting Date: 12/12/2013 District Impacted: 1,2,3,4,5
Type: ® Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: HOME funding 2014-2015
Purpose of Item:
AUTHORIZING THE ALLOCATION OF HOME INVESTMENT PARTNERSHIP PROGRAM
("HOME') FUNDS, IN THE PROJECTED AMOUNT OF $2,739,022, FOR HOUSING PROGRAMS,
FOR PROGRAM YEAR 2014-2015, IN THE CATEGORIES AS SPECIFIED IN ATTACHMENT "A",
ATTACHED AND INCORPORATED, FOR THE DEVELOPMENT OF AFFORDABLE HOUSING;
AUTHORIZING THE CITY MANAGER TO EXECUTE THE NECESSARY DOCUMENTS FOR SAID
PURPOSE(S).
Background Information:
Please see attached
Budget Impact Analysis
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
CIP Project No:
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
$2,739,022
Final Approvals
(SIGN AND DATE)
CIP Budget'
If using or receiving capital funds
Grants
Risk Management
Purchasing Dept. Director
Chief City Manag
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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 2014, as
such, the amount of HOME funds being recommended is a projection.
The Administration recommends the allocation of HOME funds, in the projected amount of
$2,739,022, for Program Year 2014-2015; in the categories as specified in Attachment "A", attached
and incorporated, for the provision of decent and affordable housing to low income households.
The funding allocation to such activities as specified in Attachment "A", may need to be adjusted
once HUD confirms the final HOME formula allocation for Program Year 2014-2015.