CITY of RAPID CITY

Agenda Item Summary

 

Meeting Date: 12/02/2015

Commission, Board or Committee: Click here to enter date.

Staff Contact: Barbara Garcia

PW Committee or L&F Committee: L&F

Petitioner: Click here to enter text.

City Council 1st Reading: Click here to enter date.

Location: Community Development

City Council 2nd Reading: Click here to enter date.

Agenda Title:

FY 2016 CDBG Annual Action Plan (AAP) Preliminary Funding Recommendations

Summary:

Attached are the Investment Committee’s recommendations for funding, based on estimates for HUD funding and program income for 2016.  The City will not receive notice of actual funding until after the beginning of the year, and will likely need to make adjustments up or down, at that time.  It was recommended to move two ready to go projects to the FY2015 Reallocation of funds to help with the spend-down ratio (Community Health and Cornerstone). That leaves a contingency fund of $171,395 to apply to other ready-to-go projects next year.

Funding Source & Fiscal Impact (if applicable):

CDBG funds - estimated

Recommendation:

Action: Choose an item. Approve preliminary funding recommendation with permission for the Investment Committee to make adjustments to the allocations upon HUD notification of actual Entitlement amount, not exceeding 25% of the total allocation (Minor Amendment to Plan). If actual Entitlement amount exceeds the estimate used here, recommendations will be brought back to Council for final approval.

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Options:

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Attachments & Links:

FY 2016 CDBG AAP Preliminary Recommendations

 

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