Title
Amendment of the 2013 Community Development Block Grant (CDBG) Action Plan to Redirect Use of $25,650 for the Downtown Ambassador Program
Recommended Action
Committee Recommendation:
General Government Committee recommends amending the 2013 CDBG Action Plan to Redirect Use of $25,650 for the Downtown Ambassador Program
City Manager Recommendation:
Move to amend the 2013 CDBG Action Plan to Redirect Use of $25,650 for the Downtown Ambassador Program
Report
Issue:
Should the City amend its PY2013 CDBG Action Plan to shift $25,650 from Isthmus Park Project to Downtown Ambassador program?
Staff Contact:
Leonard Bauer, Deputy Director, Community Planning and Development Department, 360.753.8206
Presenter(s):
Consent Calendar Item.
Background and Analysis:
The Community Development Block Grant (CDBG) is a program of the U.S. Department of Housing and Urban Development. There are two basic sources of Community Development Block Grant funds.
Annual Entitlement Grants: The City receives CDBG funds as an entitlement grant from the Department of Housing and Urban Development (HUD). The funds must be used in accordance with detailed regulations to benefit low- and moderate-income households or aid in the elimination of slum or blighted conditions. The CDBG grant in PY2013 is $357,000.
Program Income: In previous years, housing rehabilitation funding was distributed by the City in the form of loans. These are repaid to the City according to the loan terms and reused for other housing projects that benefit low- and moderate-income households. These funds are called "Program Income". During PY2013 the City anticipates receiving approximately $300,000 in program income.
Olympia's adopted CDBG Action Plan allocates approximately $1.02 million towards a variety of projects for PY2013. This $1.02 million allocation is predicated on all additional program income being utilized for the Isthmus Park project, up to $450,000.
The propo...
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