STRATEGIC PRIORITY: Government Performance & Financial Management
AGENDA DATE: January 22, 2025
COUNCIL DISTRICT(S): N/A
DEPARTMENT: Budget and Management Services
EXECUTIVE: Jack Ireland
______________________________________________________________________
SUBJECT
Title
Authorize (1) a one-year extension for Community Development Block Grant (CDBG) Funds in the amount of $3,634,013 in CDBG funded projects that have not met the City's twelve-month obligation or twenty-four-month expenditure requirement for the period September 30,2024 through September 30, 2025; (2) preliminary adoption of Reprogramming Budget No. 1 (Substantial Amendment No. 1) to the FY 2024-25 Action Plan to use unspent prior year CDBG Funds in the amount of $1,335,555 for one time use for repairs and renovations at public facilities; and (3) a public hearing to be held on February 26, 2025, to receive comments on the proposed use of funds for Reprogramming Budget No. 1 (Substantial Amendment No. 1) to the FY 2024-25 Action Plan - Financing: This action has no cost consideration to the City (see Fiscal Information)
Body
BACKGROUND
On August 18, 1993, Resolution No. 93-3001 established specific timeframes for the obligation and expenditure of CDBG Funds. Funds are to be obligated within 12 months and expended within 24 months of budget adoption. On March 28, 2007, Resolution No. 07-0992 enhanced the City's existing expenditure policy with additional benchmarks. Additional time to obligate and expend funds may be granted by City Council.
Timely expenditure of CDBG Funds by entitlement cities continues to be a primary concern of the U.S. Department of Housing and Urban Development (HUD). HUD requires that cities expend CDBG Funds so that, at least 60 days prior to the start of a new program year, the unexpended balance of CDBG Funds should be less than 1.5 times the cities' CDBG allocation amount for the current year.
For fiscal year (FY) 2024-25, a review of the projects based on ...
Click here for full text