Label
46th (2020) Year CDBG
Department of Neighborhoods
Bonita Bonds (x1401)
Title
Authorizing the Mayor to accept, deposit, appropriate and expend the Community Development Block Grant from the U.S. Department of Housing and Urban Development (HUD) in an amount of $7,570,178; authorizing the expenditure of CDBG carryover funds from all years prior to program year 2020 (46th) in the amount of $2,758,432.87; and authorizing submission to the U.S. Department of Housing and Urban Development of the 2020-2025 Consolidated Plan and the 2020-2021 Annual Action Plan; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
This legislation provides funding for a variety of programs both for the administration of the CDBG program and programs operated internally by various City Departments and operations, Community Development Corporations, and Social Service agencies. This legislation authorizes the acceptance, deposit, appropriation and expenditure in the amount of $7,570,178 as well as the expenditure of CDBG carryover funds in the amount of $2,758,432.87 from all years prior to program year 2020 (46th) in federal funds and more specifically, the 2020-2025 Consolidated Plan and the 2020-2021 Annual Action Plan for the 2020 Program Year to be submitted to HUD on July 10th, 2020.
The financial impact of this Ordinance is the receipt of $7,570,178 from HUD to the City of Toledo for the administration of the CDBG Program as well as the allocation of funding to Community Development Corporations and various Social Service agencies in the Toledo community. Also, the expenditure of CDBG carryover funds in the amount of $2,758,432.87 from all years prior to program year 2020 (46th).
The fiscal impact of this ordinance is as follows:
- The amount of funds requested: $10,328,610.87 (see above)
- The expenditure budget line item: 2025-16200
- New revenue generated (operational revenue, grants, if any): $7,570,178
- Revenue budget line item (if any): 2025-16200-5GH290...
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