Title
A RESOLUTION FOR THE COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG) PROGRAM APPROVING THE 2024 ANNUAL ACTION PLAN
Body
Summary and Background Information:
In 2016, the City became an Entitlement Community and now directly receives Community Development Block Grant (CDBG) funding. As required by the U.S. Department of Housing and Urban Development (HUD), the City works through its Citizen Participation Plan to determine the allocation of project funds. The final document produced with this procedure is the Annual Action Plan (AAP). The AAP is the City’s application and plan for the following CDBG funding year.
Adoption of the CDBG 202 Annual Action Plan
The CDBG Office received an estimated $409,823 for the 2024 program year. HUD released memorandums providing administrative and operational guidance to the entitlement communities. The CDBG Office recommended funding for two Sub-recipients for public services. The remaining funds, minus the allowed administration costs, are proposed to be utilized as a guarantee and payment for up to 10 years for a Section 108 Loan from HUD. This loan will allow the City to leverage the annual CDBG allocation to access immediate, low-cost flexible financing for eligible projects. The City is in the process of applying for a section 108 loan to be used for essential public infrastructure improvements in the Core City.
Total 2024 Grant Amount
$409,823
Administration (20%)
$81,964
Public Facilities & Housing
$1,918,135
Section 108 loan program using entitlement funds for loan repayment
Staff Responsible (Department Head): Jared Gerber, Community Development Director
Staff Member Presenting: Maggie Blake, Civitas
Financial Impact: CDBG 2024 Annual Action Plan - an estimated $409,823 HUD grant to the City
Funding Source: HUD’s Community Development Block Grant
Staff Recommendation: Staff recommends the adoption of the 2024 Annual Action
Suggested Motion: Pass the resolution to adopt and submit the 2024 Annual Action
Plan/Consolidated plan