TO: Mayor and Members of City Council
THRU: Jay Reinstein, Assistant City Manager
FROM: Cynthia Blot, Economic & Community Development Director
Jay Toland, Acting Chief Financial Officer
Brenda Powell, Senior Financial Analyst
DATE: June 25, 2018
RE:
Title
Consideration of Approval of Special Revenue Fund Project Ordinances 2019-1 and 2019-2 for the Partial Funding of the CDBG and HOME FY2018-2019 Programs per the Economic and 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 2018-2019. The Community Development Block Grant (CDBG) and HOME Investment Partnership Grant (HOME) will support activities identified in the Economic and Community Development Department's proposed 2018-2019 Annual Action Plan as adopted by City Council on April 23, 2018. Special Revenue Fund Project Ordinances 2019-1 and 2019-2 will appropriate program income expected to be received which will allow for the funding of payroll and payroll related items until funding approval by HUD has been received.
Background:
The proposed 2018-2019 Annual Action Plan, which outlined all activities and funding sources for both CDBG and HOME, was approved by Council on April 23, 2018. Since that time the City has received notification that the allocation for CDBG and HOME funds increased by $127,066 and $257,955, respectively, for a total increase of $385,021.
The CDBG program will be funded by an anticipated grant from HUD in the amount of $1,421,514 and anticipated program income of $170,416.
The HOME program will be funded by an anticipated grant from HUD in the amount of $835,404 and anticipated program income of $683,514. The grant m...
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