Home / Government / Public Meetings / Agendas / Agenda Items / 2019 - PL Agenda Items / LF071019-01 - Approval of the CDBG FY 2019 Reallocation Funds Preliminary Recommendation
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Posted: July 15, 2019
Rapid City
Agenda Item Summary

Agenda Item Ref. #: LF071019-01 - Approval of the CDBG FY 2019 Reallocation Funds Preliminary Recommendation

Agenda Item Title:

LF071019-01 - Approval of the CDBG FY 2019 Reallocation Funds Preliminary Recommendation

Origination Group:
Legal & Finance Committee
Origination Meeting Date:
07/10/2019
City Council Hearing Date:
07/15/2019
Staff Contact:
Michelle Schuelke; CDBG Division Manager
Agenda Item Summary:
Attached is the Investment Committee’s recommendation for the FY 2019 Reallocation Funds. These allocations are based on money being reallocated from several previous years’ awards. (1) For new or rehab housing projects, funded units must be occupied for the project to be considered complete. (2) Public facility projects must be open/available and benefitting persons for the project to be considered complete.

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center
Funding Source & Fiscal Impact Notes:
There are two different project completion deadlines necessary for meeting spend-down ratio. FY2019 CDBG Reallocation Funds Total = $336,575.83. ($136,023.82 – projects must be complete by March 31, 2020 and $200,552.00 – project must be complete by March 31, 2021).

Recommendations:

Origination Recommendation Notes:
Staff requests Council Approval of the Investment Committee’s recommendation for the FY2019 CDBG Reallocations with direction to allow the Investment Committee to make minor amendments, which includes 1) 50% change, if project is funded at $25,000 or less; 2) 25% change, if project is funded more than $25,000 in accordance to the City of Rapid City Community Development Block Grant Program Resident Participation Plan. Major amendments including changes above the thresholds described or a substantial change in the purpose, scope, location or beneficiaries will require a public comment period and Council final approval in accordance to the City of Rapid City Community Development Block Grant Program Resident Participation Plan----------Legal and Finance Committee recommended to approve: 7/10/2019
City Council Recommendation Action:
Approve
City Council Recommendation Notes:
City Council approved: 7/15/2019
Published in 2019 - PL Agenda Items
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