Label
49th (2023) Year CDBG
Department of Housing and Community Development
Bonita Bonds (x1401)
Revised
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 the amount of $7,355,028; authorizing the expenditure of CDBG carryover funds from all years prior to program year 2022 (48th) in the amount of $382,789.80; and authorizing submission to the U.S. Department of Housing and Urban Development of the 2023-2024 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 $7,355,028 as well as the expenditure of CDBG carryover funds in the amount of $382,789.80 from all years prior to program year 2022 (48th) in federal funds and more specifically, the 2023-2024 Annual Action Plan for the 2023 Program Year to be submitted to HUD on May 17th, 2023.
The financial impact of this Ordinance is the receipt of $7,355,028 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 $382,789.80 from all years prior to program year 2022 (48th).
Summary
NOW, THEREFORE, Be it ordained by the Council of the City of Toledo:
SECTION 1. That the Mayor is authorized to submit the 2023-2024 Annual Action Plan; accept the 2023 Program Year CDBG allocation from HUD in the amount of $7,355,028; deposit the amount received from HUD into Account Code 2015-16100-5G49000STDADM (Communi...
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