AGENDA ITEM REPORT
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A RESOLUTION ADOPTING THE FIRST AMENDMENT TO THE CITY’S FISCAL YEAR (FY) 2016-2017 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 2016-2017 Action Plan on June 23, 2016, which included a total funding allocation of $269,629. The programmed activities provided for infrastructure improvements in the amount of $215,704 and $53,925 scheduled for planning and administration activities.
DISCUSSION:
The proposed first amendment would reallocate funding from the FY 2014-2015 and FY 2015-2016 Purchase Assistance Programs 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 $59,064.61 in available funding to the most recent funding year, FY 2016-2017. Through this action, we address HUD’s recommendation and put ourselves in a better position to address future timeliness requirements. For reference, the City currently has an exemplary record achieving timeliness.
RECOMMENDATION:
Staff recommends approval of this Resolution.
FISCAL IMPACT: N/A