HomeMy WebLinkAboutSummary Form= Law Department
, AGENDA ITEM SUMMARY FORM p
syr Matter ID No.
FILE ID: 16-01062
Date: 7-21-2016 Requesting Department: Community & Economic Development
Commission Meeting Date: 09-08-2016 District Impacted: 1,2,3,4,5
Type: Z Resolution ❑ Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: Allocation of CDBG Program Income
Purpose of Item:
AUTHORIZING THE ALLOCATION OF PROGRAM INCOME FROM COMMUNITY
DEVELOPMENT BLOCK GRANT ("CDBG") FUNDS, GENERATED FROM DECEMBER 3rd,2015
TO JUNE 30t",2016 IN THE AMOUNT OF $315,267.07 AS SHOWN IN ATTACHMENT "A",
ATTACHED AN INCORPORATED; AUTHORIZING THE CITY MANAGER TO EXECUTE ALLTHE
NECESSARY DOCUMENT(S), IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, FOR SAID
PURPOSE(S).
Background Information:
Please see attachment
Budget Impact Analysis
y�C- .5NIT 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: $315,267.07
Final Approvals
(SIGN AND DATE)
CIP Budge
Tf using or receiving capital funds
Grants Risk Managen
Purchasing Dept. Director.
Chief City Manage
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AGENDA ITEM SUMMARY FORM CONTINUED
Background Information:
The Department of Community and Economic Development receives various types of repayments
from loans provided to developers and homeowners in the past. Such funds, referred to as program
income, are required to be used for eligible program activities.
The Department annually estimates such program income and includes the eligible portion for
program administration in its annual budget.
Between December 3rd,2015 to June 30t",2016 the Department of Community and Economic
Development has collected an amount of $315,267.07 in CDBG program income.
Pursuant to CDBG regulations 24 CFR Part 570.504, program income must be used for eligible
CDBG activities.
The City Administration recommends the allocation of the total program income from CDBG funds
generated from December 31,2015 to June 30t",2016 in the amount of $315,267.07 to the activities
specified in Attachment "A".