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<br />AUQust 11. 2009 <br /> <br />Background: <br />. HUD has advised the City that the CDBG allocation for FY 2010 is $6,001 more <br />than anticipated. <br />. Activities funded by the City's HOME funds in FY 2008 generated $130,300.43 of <br />program Income. <br />. HUD has notified the City that it will be allocated $473,578 of CDBG-R funds <br />under Title XII Division A of the American Recovery and Reinvestment Act of 2009 <br />(Recovery Act). <br />. HUD has notified the City that it will be allocated $724,490 of HPRP entitlement <br />under the Recovery Act. <br />. DHCD has awarded the City $2,000,000 of NSP funds under the Housing and <br />Economic Recovery Act of 2008. <br /> <br />Discussion: <br />. The additional CDBG program funds will be allocated as part of the FY 2010 <br />Annual Action Plan. <br />. The HOME program income has been allocated to on-going HOME eligible <br />projects as part of the FY 2009 Annual Action Plan approved by the City Council. <br />. The CDBG-R funds have been allocated to support a housing, community <br />development, and economic development projects that are ready to go as identified in <br />the substantial amendment submitted to HUD. <br />. The HPRP funds have been allocated to financial assistance and services to <br />either prevent individuals and families from becoming homeless or to help those who <br />are experiencing homelessness to be quickly re-housed and stabilized as identified in <br />the substantial amendment submitted to HUD. <br />. The NSP funds will be used to purchase and rehabilitate residential properties <br />that have been foreclosed upon, with subsequent sale as approved by DHCD. <br /> <br />Financial Impact: <br />. These additional funds will be available for undertaking the priorities established <br />by the 5-Year Consolidated Plan and in agreement with the statutory proposes of the <br />CDBG, HOME, and Neighborhood Stabilization programs listed. While HOME funds <br />require a match contribution of not less than 12.5% of the HOME funds drawn, there are <br />no matching requirements for the other funds. <br />. The CDBG-R, HPRP and NSP funds are to be appropriated to the Economic <br />Stimulus fund to ensure appropriate tracking and accountability. <br /> <br />Staff Recommends: <br />. Accept the CDBG program funds, HOME program income funds, CDBG-R funds, <br />HPRP funds, and NSP funds. Vision Principles: Thriving Neighborhoods and a Sense <br />of Community; A Robust and Prospering Economy. <br /> <br />Next Steps Following Council Action: <br />. All funds are approved and will be available upon signing of agreements with <br />service providers. <br /> <br />Motion by Mr. Whitehurst, and seconded by Mr. Heretick, to adopt the following <br />ordinance, and was adopted by the following vote: <br /> <br />"ORDINANCE TO APPROPRIATE (a) IN THE FY 2009-2010 COMMUNITY <br />PLANNING AND DEVELOPMENT PROGRAM FUND, $6,001 ALLOCATED TO THE <br />COMMUNITY DEVELOPMENT BLOCK GRANT PROGRAM BY THE U.S. <br />DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT; (b) IN THE FY 2009- <br />2010 COMMUNITY PLANNING AND DEVELOPMENT PROGRAM FUND, <br />$130,300.43 IN HOME PROGRAM FY 2007-2008 INCOME; AND (c) IN THE FY 2009- <br />2010 ECONOMIC STIMULUS FUND, $473,578 IN COMMUNITY DEVELOPMENT <br />BLOCK GRANT RECOVERY ACT FUNDS, $724,490 IN HOMELESS PREVENTION <br />AND RAPID RE-HOUSING FUNDS, AND $2,000,000 IN NEIGHBORHOOD <br />STABILIZATION FUNDS ALLOCATED BY THE U.S. DEPARTMENT OF HOUSING <br />AND URBAN DEVELOPMENT." <br />