TO: Mayor and Members of City Council
THRU: Douglas J. Hewett, ICMA-CM, City Manager
FROM: Victor Sharpe, Community Development Director
Cheryl J. Spivey, Chief Financial Officer
Brenda Powell, Senior Financial Analyst
DATE: June 26, 2017
RE:
Title
Consideration of Approval of Special Revenue Fund Project Ordinances 2018-1 and 2018-2 for the Funding of the CDBG and HOME FY2017-2018 Programs per the Community Development Department's Annual Action Plan
end
COUNCIL DISTRICT(S):
Council District(s)
All
b
Relationship To Strategic Plan:
Goal II - Diverse and Viable Economy
Goal IV - Desirable Place to Live, Work and Recreate
Executive Summary:
The City of Fayetteville is expected to be awarded two grants from the U.S. Department of Housing and Urban Development (HUD) for fiscal year 2017-2018. The Community Development Block Grant (CDBG) and HOME Investment Partnership Grant (HOME) will support activities identified in the Community Development Department's proposed 2017-2018 Annual Action Plan as adopted by City Council on April 24, 2017. Special Revenue Fund Project Ordinances 2018-1 and 2018-2 will appropriate the operating budgets for the CDBG and HOME programs, including the anticipated Federal grant funds and program income.
Background:
The proposed 2017-2018 Annual Action Plan, which outlined all activities and funding sources for both CDBG and HOME, was approved by Council on April 24, 2017. Since that time the City has received notification that the allocation for CDBG and HOME funds decreased by $9,371 and $6,212, respectively, for a total of $15,583. This reduction will be offset by an increase in the projected amounts of carryforward funds remaining unspent and available from prior years to fund the programs identified in the Action Plan approved by Council, resulting in no change to the proposed program funding amounts.
The CDBG program will be funded by an anticipated grant from HUD in the amount of $1,294,448 and...
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