CITY of RAPID CITY Agenda Item Summary
Meeting Date: 11/25/2014		Commission, Board or Committee: Click here to enter date.
Staff Contact: Barbara Garcia		PW Committee or L&F Committee: L&F Committee
Petitioner: Click here to enter text.		City Council 1st Reading: Click here to enter date.
Location: Community Investment Committee		City Council 2nd Reading: Click here to enter date.
Agenda Title:
Recommendations for preliminary approval for proposed FY 2015 Community Development Block Grant (CDBG) funding allocations.
Summary:
The Community Investment Committee is seeking City Council preliminary approval of the recommendations for FY 2015 CDBG funding allocations.  This is a preliminary approval, as funding recommendations are based on estimates for the Entitlement funds and program income to be received in FY 2015.   A thirty (30) day public comment period on the proposed allocations will follow preliminary approval, and all comments will be submitted to Council for review prior to issuance of final approval. Upon notification from HUD of actual funding allocation (typically between April – June) the Community Investment Committee will meet again to make needed adjustments, up or down, and final approval will be requested.  The Request for Proposals for FY 2015 included specific high priority goals (see attached).  The list of priorities this year is narrower and more focused to meet greatest needs consistent with the goals and action steps included in the recently adopted Comprehensive Plan, in addition to the HUD Consolidated Plan. HUD restricts the amounts allowed for Program Administration to 20% and Public Services to 15% of the Entitlement plus program income in the qualifying year. Thirteen (13) applications were received totaling $573,198 in requests.  It is estimated we will have approximately $448,700 in funding available.  Public Services is limited to $76,302 with $250,618 in requests received.
Funding Source & Fiscal Impact (if applicable):
The FY 2015 Community Development Block Grant Funding Allocations.
Recommendation:
Action: Choose an item. Recommend preliminary approval of FY 2015 CDBG funding allocations. Notes: Click here to enter text.
Options:
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Attachments & Links:
Investment Committee FY 2015 CDBG Eligibility Evaluation Spreadsheet			Click here to enter text.
City High Priorities FY 2015	Click here to enter text.		Click here to enter text.
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