HomeMy WebLinkAboutSummary FormAGENDA ITEM SUMMARY FORM
FILE ID: i 4- 000 4 co
Law Department
Matter ID No.
Date: 01/14/2014 Requesting Department: Community & Economic Development
Commission Meeting Date: 02/27/2014 District Impacted: 1,2,3,4,5
Type: E Resolution EJ Ordinance LI Emergency Ordinance Discussion Item
fl Other
Subject: CDBG Funding: Economic Development 2014-2015
Purpose of Item:
AUTHORIZING THE ALLOCATION OF PROGRAM YEAR 2014-2015, COMMUNITY
DEVELOPMENT BLOCK GRANT ("CDBG") FUNDS, IN THE PROJECTED AMOUNT OF
$2,132,146 IN THE ECONOMIC DEVELOPMENT CATEGORY, TO THE AGENCIES
SPECIFIED IN ATTACHMENT "A," ATTACHED AND INCORPORATED, FOR ECONOMIC
DEVELOPMENT ACTIVITIES IN THE PROGRAM YEAR 2014-2015; 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
CIP Project No:
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
$2,132,146
Final Approvals
(SIGN AND DATE)
CIP Budge
If using or receiving capital funds
Grants Risk Management
Dept Director
City Manage
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AGENDA ITEM SUMMARY FORM CONTINUED
Background Infformation:
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 CDBG Economic Development funds being recommended is a projection.
Pursuant to Resolution No. R-13-0483, adopted December 12, 2013, the Miami City Commission
approved CDBG Program Year categories, allocating the projected amount of $2,132,146 for
Economic Development.
The funding allocation account may need to be adjusted proportionately once HUD confirms the final
CDBG formula allocation for Program Year 2014-2015.
The Administration recommends the allocation of Program Year 2014-2015 CDBG funds, in the
projected amount of $2,132,146 in the Economic Development category, to the agencies specified in
Attachment "A," attached and incorporated, for economic development activities in the program year
2014-2015.