Agenda Item Title:
Approve Investment Committee Recommendations for FY2018 Community Development Block Grant (CDBG) Allocations and Approve the Investment Committee to Make Allocation Adjustments Upon Notice of Actual Funding Amount if Adjustments are Less than 25% of Total Allocation
Legal & Finance Committee
Origination Meeting Date:
City Council Hearing Date:
Agenda Item Summary:
CDBG funds available for 2018 are estimated to total $438,500. The Investment Committee has made Recommendations for funding allocations that meet the highest priority needs as identified by the CDBG Consolidated Plan and Collective Impact recommended projects.
Funding Source & Fiscal Impact (if applicable):
|Community Development Block Grant funds estimated to be $433,000 plus Program Income estimated to be earned in 2018 of $2, 000, and Revolving Loan fund income of $3,500, for an estimated total of $438,500|
Funding Source & Fiscal Impact Notes:
See attached spread sheet showing application requests and recommended funding.
Origination Recommendation Action: