Title
Approval of Appropriation Ordinance in the Amount of $425,312 for Community Development Block Grant (CDBG) Action Plan and CDBG Revolving Loan Program
Recommended Action
City Manager's Recommendation:
Move to approve on second reading the attached appropriation ordinance in the amount of $425,612, distributed in the following manner:
1. Community Development Block Grant (CDBG) Program Year B-2012: $325,612
2. CDBG Revolving Loan Program: $100,000
Report
Issue:
Whether to approve an ordinance to appropriate CDBG funds.
Staff Contact:
Karen Kenneson, Business Manager, Community Planning and Development, 360.753.8277
Presenters:
N/A
Background and Analysis - same information as provided with 1st reading staff report.
Federal Community Development Block Grant Program: CDBG was created as a "bundled" federal aid program intended to aid "Â…the development of viable urban communities, by providing decent housing and a suitable living environment and expanding economic opportunities, principally for persons of low and moderate income". (Taken from the Housing and Urban Development website.)
Approval of the appropriation ordinance is consistent with prior Council approved CDBG action plans. The appropriation (budget) for these grants is not part of the regular budgeting process and is done on a grant award basis.
The CDBG Revolving Loan Program is funded through loan repayments. This appropriation ordinance will appropriate CDBG Revolving Loan Program income received into the program's expense budget.
Neighborhood/Community Interests:
Neighborhood and community interests are identified through the CDBG Action Plan RFP and public comment processes.
Options:
1. Approve the appropriation ordinance for $325,612 for the CDBG Action Plan and $100,000 for the CDBG Revolving Loan Program.
2. Do not approve the appropriation ordinance for $325,612 for the CDBG Action Plan and $100,000 for the CDBG Revolving Loan Program.
Financial Impact:
This ordinance appropriates $325,612 in federal CDBG funding for Program Year B-2012, consistent with the previously approved action plan and $100,000 in CDBG Revolving Loan Program income received.