Posted: August 14, 2019
Rapid City
Agenda Item Summary

Agenda Item Ref. #: LF081419-05 - Final Approval of CDBG FY 2019 Reallocation Funds Recommendation

Agenda Item Title:

LF081419-05 - Final Approval of CDBG FY 2019 Reallocation Funds Recommendation

Origination Group:
Legal & Finance Committee
Origination Meeting Date:
08/14/2019
City Council Hearing Date:
08/19/2019
Staff Contact:
Michelle Schuelke; CDBG Division Manager
Agenda Item Summary:
Attached is the Investment Committee’s final recommendation for the FY 2019 Reallocation Funds.

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 – projects must be complete by March 31, 2021).

Recommendations:

Origination Recommendation Notes:
Staff requests Council Final 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 .

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