AGENDA ITEM REPORT
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A RESOLUTION ADOPTING THE THIRD AMENDMENT TO THE CITY'S FISCAL YEAR (FY) 2015-2016 ACTION PLAN RELATED TO THE COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG) PROGRAM. (PUBLIC HEARING)
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BACKGROUND:
The City of Coconut Creek is an entitlement recipient of Community Development Block Grant (CDBG) Program funds from the U.S. Department of Housing and Urban Development (HUD). In order to receive these funds, the City must adopt an annual action plan outlining the use of funds within the limits of the City's annual allocation and describe how the programmed activities meet the goals and objectives established in the Five Year Consolidated Plan. The City adopted its FY 2015-2016 Action Plan on July 9, 2015, which included a total funding allocation of $265,061. The programmed activities provided for purchase assistance funds in the amount of $192,609, youth scholarship funds for the Aftercare Program in the amount of $19,440, and $53,012 scheduled for planning and administration activities. On May 11, 2017, the City adopted the second amendment to the FY 2015-2016 Action Plan, which reallocated unused 2015-2016 funding in the amount of $24,945.61 of program income and administrative funds to eligible purchase assistance activities.
DISCUSSION:
The proposed third amendment would reallocate funding from the FY 2015-2016 Purchase Assistance Program to the FY 2016-2017 Purchase Assistance Program. Reallocation is a HUD-recommended best practice and is permitted to ensure that program timeliness requirements are met. In this case, HUD has recommended that we reallocate the $24,945.61 in available funding to the most recent funding year, FY 2016-2017. While we reallocated these same funds to Purchase Assistance in the second amendment processed last May, we left the funding in the same program year. Through this action, we address HUD's recommendation and put ourselves in a better position to address future timeliness requirements. For r...
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