STRATEGIC PRIORITY: Government Performance and Financial Management
AGENDA DATE: February 24, 2021
COUNCIL DISTRICT(S): N/A
DEPARTMENT: Office of Budget and Management Services
EXECUTIVE: Elizabeth Reich
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SUBJECT
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A public hearing to receive comments on (1) the adoption of Reprogramming Budget No. 1 (Substantial Amendment No. 2) to the FY 2020-21 Action Plan to: (a) use unspent prior year Community Development Block Grant (CDBG) funds in the total amount of $2,011,333 for the Residential Development Acquisition Loan Program and $509,393 for Emergency Assistance/Rent Program; and (b) use unspent Home Investment Partnerships Program (HOME) Funds in the amount of $1,996,715 for the Housing Development Loan Program; (2) an amendment to the City's Citizen Participation Plan to increase the amount required to trigger HUD's substantial amendment process from $100,000 to $500,000; and at the close of the public hearing, authorize final adoption of Reprogramming Budget No. 1 (Substantial Amendment No. 2) to the FY 2020-21 Action Plan and the amendment to the City's Citizen Participation Plan - Financing: This action has no cost consideration to the City (see Fiscal Information)
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BACKGROUND
On August 18, 1993, Resolution No. 93-3001 established specific timeframes for the obligation and expenditure of Community Development Block Grant (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 y...
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