Sponsor
Alderman Helding
Title
Allocation of 2011 CDBG, HOME, and ESG Funds be approved, Mayor and City Clerk be authorized and directed to execute and submit the appropriate documents on the City's behalf to the U. S. Department of Housing and Urban Development to secure the City's 2011 funds, and appropriate City officials be authorized and directed to execute third-party agreements with agencies for use of 2011 funds
Resolved, that the allocation of 2011 CDBG, HOME, and ESG funds as shown in the table attached to the Community Development Committee Report of May 19, 2011, be adopted.
Further resolved, that the Mayor and City Clerk be authorized and directed to execute and submit the appropriate documents on the City's behalf to the U.S. Department of Housing and Urban Development to secure the city's 2011 funds.
Further resolved, that the appropriate City officials be authorized to execute third-party agreements with agencies approved for use of the 2011 funds.
Further resolved, that if CDBG or HOME funds are received in excess of those allocated, those funds be placed in Local Option or Contingency funds, and if the grants are less than estimated, the Local Option or Contingency funds be reduced accordingly.
Fiscal Note: It is estimated that $1,785,976 in CDBG funds, $560,223 in HOME funds, and $119,854 in ESG funds will be received. The recommended allocation also incorporates $815,799 in 2010 HOME grant funds and HOME program income.