Posted: September 06, 2024
Rapid City
Agenda Item Summary

Agenda Item Ref. #: LF091124-03

Agenda Item Title:

Authorize Mayor and Finance Director to Sign Addendum #1 to the Grantee Indirect Cost Rate of the FY24 Community Development Block Grant (CDBG) Funding Approval/Agreement

Origination Group:
Legal & Finance Committee
Origination Meeting Date:
09/11/2024
City Council Hearing Date:
09/16/2024
Petitioner:
Finance Department
Staff Contact:
Michelle Schuelke
Location:
Council Chambers
Agenda Item Summary:
The City is required to execute a Funding Approval/Agreement with HUD for the release of CDBG funding. Staff is seeking authorization for the Mayor and Finance Director to Sign a copy of the FY24 Community Development Block Grant Funding Approval/Agreement and the Grantee Indirect Cost Rate Addendum

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center
FY24 CDBG Funds $493,725.00

Recommendations:

Origination Recommendation Action:
Approve

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