Label
48th (2022) Year CDBG
Department of Housing and Community Development
Bonita Bonds (x1401)
(Revised)
Title
Repealing in its entirety Ord. 176-22; authorizing the Mayor to accept, deposit, appropriate and expend the Community Development Block Grant (CDBG) from the U.S. Department of Housing and Urban Development (HUD) in the amount of $7,373,648; authorizing the expenditure of CDBG carryover funds from all years prior to program year 2022 (48th) in the amount of $1,914,215; and authorizing submission to the U.S. Department of Housing and Urban Development of the 2022-2023 Annual Action Plan; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
Ordinance #176-22 passed by Council and signed by the Mayor was an estimate of what was anticipated to be received from the Department of Housing and Urban Development (HUD) for the Community Development Block Grant (CDBG). The City of Toledo was informed by HUD it will now receive $7,373,648 for fiscal year 2022, a reduction of $219,867. This Ordinance makes the necessary amendments to Ordinance 176-22 by amending the relevant Sections in said legislation.
The financial impact of this Ordinance is the receipt of $7,373,648; $219,867 less than what was anticipated from HUD to the City of Toledo for the CDBG Program.
Summary
NOW, THEREFORE, Be it ordained by the Council of the City of Toledo:
SECTION 1. That Ordinance 176-22 is hereby repealed in its entirety.
SECTION 2. That the Mayor is authorized to submit the 2022-2023 Annual Action Plan; accept the 2022 (48th) Program Year CDBG allocation from HUD in the amount of $7,373,648; and deposit the amount received from HUD into Account Code 2015-16100-407400-5G48000STDREV (Community Development Block Grant Fund) for the purpose of funding the CDBG Program.
SECTION 3. That the appropriation in the amount of $7,373,648 is authorized from the unappropriated grant proceeds in the Community Development Block Grant Fund into various accounts; and ...
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