Posted: December 27, 2018
Rapid City
Agenda Item Summary

Agenda Item Ref. #: LF010219 09

Agenda Item Title:

FY 2018 CDBG Reallocation/Allocation of Grant and Program Income Funds

Origination Group:
Legal & Finance Committee
Origination Meeting Date:
01/02/2019
City Council Hearing Date:
01/07/2019
City Council First Reading Date:
01/07/2019
Staff Contact:
Barbara Garcia
Location:
Community Development
Agenda Item Summary:
Attached is the Investment Committee’s recommendation for reallocation/allocation of CDBG funds and program income recovered/received from previously funded projects and loan repayments in 2018, in the amount of $232,328.44. Projects are focused on City Consolidated Plan high priorities.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center
CDBG funds and Program Income received, year to date.

Recommendations:

Origination Recommendation Action:
Approve
Origination Recommendation Notes:
Action: Staff recommends Council approval of the Investment Committee recommendations for project allocations of recovered CDBG funds and program income earned year to date, in the amount of $232,328.44.

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