Agenda Item Title:
Request for Council Final Approval of the Community Development Block Grant (CDBG) FY2016 Annual Action Plan with Investment Committee Recommended Changes and authorization for Mayor and Finance Officer to sign the Federal Assistance SF-424 and CDBG Certifications.
Legal & Finance Committee
Origination Meeting Date:
City Council Hearing Date:
Agenda Item Summary:
Preliminary approval of CDBG allocations was on December 7, 2015. Estimated funding was CDBG $425,000 and Program Income $6,400 for a total of $431,400. HUD Entitlement award received is $433,518, $8,518 more than estimate used for preliminary allocation awards. In addition to EN increase, we received an additional $6,628 in Revolving Loan income allowing us to increase the amount allocated to Public Services by $3,897. HUD has mandatory caps for program Administration which allows an increase of ($1,703) to Administration. The remaining ($2,918) increase could be allocated to ready-to-go Housing, Public Facilities and/or Economic Development projects. Investment Committee recommendations are: Administration – Increase allocation by ($1,703) to $87,983; Public Service – Allocate the full increase ($3,897) to Pennington County Health & Human Services, new total $28,514; Housing – Allocate the full ($2,918) to the City of Rapid City Contingency funds, new total $174,313; No public comments were received during the 30-day public comment period. All other allocations as previously approved.
Funding Source & Fiscal Impact (if applicable):
|Community Development Block Grant Funds and estimated $6,400 of Program Income to be earned in FY 2016. Total CDBG $433,518 plus $6,400 Program Income = $439,918 available|
City Council Recommendation Action:
City Council Options:
Request Council Final Approval of the Community Development Block Grant (CDBG) FY2016 Annual Action Plan with Investment Committee Recommended Changes and authorization for Mayor and Finance Officer to sign the Federal Assistance SF-424 and CDBG Certifications.