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CITY of RAPID CITY Agenda Item Summary |
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Meeting Date: 07/01/2015 |
Commission, Board or Committee: |
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Staff Contact: Barbara Garcia |
PW Committee or L&F Committee: L&F 07/01/2015 |
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Petitioner: |
City Council 1st Reading: |
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Location: Community Development |
City Council 2nd Reading: |
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Agenda Title: |
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Request Council Approval for Reallocation of Unspent Community Development Block Grant (CDBG) Funds From Previous Years and FY 2015 Contingency Funds and Authorization for the Investment Committee to Issue a Request for Applications for Projects Addressing High Priority Needs.
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Summary: |
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Community Development Block Grant (CDBG) funds in the amount of $247,443.64 have been recovered for reallocation from previous years’ projects that were cancelled, came in under budget, or replaced by program income earned during the program year.
Additionally, $220,052 was designated as Contingency Funds in the FY 2015 Annual Action Plan. Total funding available = $467,495.64.
The Investment Committee has recommended that Council approve the solicitation of applications for CDBG eligible ready-to-go projects that meet specific high priority needs identified.
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Funding Source & Fiscal Impact (if applicable): |
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Community Development Block Grant Unspent Entitlement Funds in the amount of $467,495.64. |
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Recommendation: |
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Action: Approve Notes: Request for Reallocation of $467,495.64 in Community Development Block Grant (CDBG) Unspent Entitlement Funds to FY2015. |
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Options: |
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Attachments & Links: |
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