AGENDA ITEM REPORT
TITLE:
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A RESOLUTION ADOPTING THE FISCAL YEAR (FY) 2017-2018 ACTION PLAN, WHICH INCLUDES THE COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG) BUDGET, FOR COMMUNITY PLANNING AND DEVELOPMENT PROGRAMS AND AUTHORIZING TRANSMITTAL OF THE FY 2017-2018 ACTION PLAN TO THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD). (PUBLIC HEARING)
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BACKGROUND:
As an entitlement recipient of federal funds from the U.S. Department of Housing and Urban Development (HUD), the City is eligible to receive approximately $269,629 in Community Development Block Grant (CDBG) Program funds for FY 2017-2018. In order to receive the funds, the City is required to develop and adopt an annual Action Plan for FY 2017-2018.
DISCUSSION:
Attached is a copy of the FY 2017-2018 Action Plan proposed for adoption. The Action Plan outlines the proposed use of funds and describes how the activities will meet the goals and objectives established in the City's Five-Year Consolidated Plan. The goals and objectives are designed to benefit lower-income residents of the City. The proposed activities for FY 2017-2018 include funding for the First-Time Homebuyer Program and planning and administration costs. The First-Time Homebuyer Program is eligible under Title 24, Section 570.201(n) of the Code of Federal Regulations (CFR) and will directly impact low-to-moderate income persons as qualified under Title 24, Section 570.201(a)(3), CFR. The proposed budget for the Program is $215,704. The remaining funding will provide for administrative and planning duties relative to the overall grant program. This activity is assumed to benefit low-to-moderate income persons and is eligible under Title 24, Section 570.206, CFR. The estimated budget for planning and administration activities is $53,925. After Commission action on this item, staff will transmit the Action Plan to HUD for final compliance review.
RECOMMENDATION:
Staff recommends approval of this Resolution.
FISCAL IMPACT:
REVENUES: $...
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