CITY of RAPID CITY

Agenda Item Summary

 

Meeting Date: 3/16/2016

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

Staff Contact: Barbara Garcia

PW Committee or L&F Committee: L&F

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

Location: Community Development

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

Agenda Title:

Council Approval for FY2015 Community Development Block Grant reallocation of funds

Summary:

Community Development received $47,143.56 of program income during FY2015 that was allocated to BH Area Habitat for Humanity, since HUD required us to count it as entitlement money.  Notification was later received from HUD Headquarters notifying us that the funds should not have gone towards entitlement; it should have been program income, which allows us to use 20% ($9,428) for our program administration. We can use 20% of any program income earned in our program year; these funds were received in December 2015.  The Investment Committee approved reallocating $9,428 from BH Area Habitat for Humanity to Community Development for program administration.

Funding Source & Fiscal Impact (if applicable):

Community Development Block Grant Funds

Recommendation:

Action: Choose an item. Approve

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Options:

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Attachments & Links:

Funding Reallocation worksheet

 

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