Laserfiche WebLink
July 23, 2024 <br /> <br />Discussion: <br /> <br /> HUD has now finalized the amount of the City’s FY 2025 Home Program allocation. <br />The final allocation is $455,398.31, which is $0.31 more than expected. <br /> <br /> In order for the City to maintain accurate Home Program accounting records, it is <br />necessary to appropriate the additional $0.31. <br /> <br />Financial impact: <br /> <br /> All FY 2025 Home Program funds will support activities in the existing Annual <br />Action Plan and there will be no impact to service delivery. <br /> <br /> Adoption of the Ordinance appropriating the additional $0.31 will ensure <br />consistency between the actual revenue received and the adopted City budget. <br /> <br /> HOME funds require a match of not less than 25% of HOME funds drawn. <br /> <br />Recommended Action: <br /> <br /> Adoption of the ordinance. <br /> <br />Next Steps Following Council Action: <br /> <br /> The funds are approved and available upon authorization of the appropriation. <br /> <br />Motion by Mr. Moody, and seconded by Mr. Hugel, to adopt the following <br />ordinance, and was adopted by the following vote: <br /> <br />“ORDINANCE ACCEPTING ADDITIONAL HOME INVESTMENT PARTNERSHIPS <br />PROGRAM FUNDING IN THE AMOUNT OF $0.31 AND APPROPRIATING SAID <br />AMOUNT IN THE FY 2025 COMMUNITY PLANNING AND DEVELOPMENT <br />PROGRAM FUND BUDGET FOR USE IN IMPLEMENTING THE ANNUAL ACTION <br />PLAN.” <br /> <br />Ayes: Barnes, Hugel, Lucas-Burke, Moody, Tillage, Whitaker, Glover <br />Nays: None <br /> <br />24 - 210 - Adoption of an ordinance accepting HOME Investment Partnerships <br />program income in the amount of $19,218 and appropriating said amount in the FY <br />2025 Community Planning and Development Program Fund Budget for <br />implementation of the Annual Action Plan. <br /> <br />Background: <br /> <br /> The City has received $19,218 in HOME Investment Partnerships program income <br />as the result of repayment of a Home Care housing rehab program loan. <br /> <br />Discussion: <br /> <br /> The program income funds must be utilized for authorized purposes under the <br />City’s Annual Action Plan and HUD’s Home Investment Partnerships Program <br />regulations. <br /> <br /> The program income must be appropriated to the FY 2025 budget for the City’s <br />Community Planning and Development Program Fund. <br /> <br />Financial impact: <br /> <br /> The funds will support activities in the existing Annual Action Plan and there will <br />be no impact to service delivery. HOME funds require a match of not less than 25% of <br />HOME funds drawn. <br /> <br />Recommended Action: <br /> <br /> Adoption of the ordinance. <br /> <br />Next Steps Following Council Action: <br /> <br /> The funds are approved and available upon authorization of the appropriation. <br /> <br />Motion by Ms. Lucas-Burke, and seconded by Mr. Hugel, to adopt the following <br />ordinance, and was adopted by the following vote: <br /> <br /> <br /> <br /> <br /> <br />