Title
Ordinance to Adopt a Budget and Appropriate Monies for the Community Development Block Grant (CDBG) and HOME Investment Partnership Program (HOME) Fund of the City of Hampton for the Fiscal Year 2025 beginning July 1, 2024 and ending June 30, 2025
Purpose
PURPOSE/BACKGROUND:
This ordinance adopts a budget and appropriates monies for the Community Development Block Grant (CDBG) and HOME Investment Partnership Program (HOME) Fund (projects and activities) as presented in the City Manager's Recommended Budget for Fiscal Year 2025.
Discussion:
This ordinance adopts a budget and appropriates monies for the expenditures of the CDBG and HOME Fund for Fiscal Year 2025. The CDBG and HOME Fund is one (1) of three (3) Special Revenue Funds. The budget includes both revenues and expenditures as described on the attached budget schedule. The public hearings necessary to adopt a budget and appropriate monies for the CDBG and HOME Fund were duly advertised in the Daily Press on April 14, 2024 and April 21, 2024. A summary of the budget was published in the Daily Press on April 14, 2024.
The primary source of funds for this budget are federal grants from the U. S. Department of Housing and Urban Development (HUD) which are generally approved in or near October as part of the federal budget process. This appropriation ordinance is subject to the receipt of those funds for the applicable fiscal year. Should the federal allocations for CDBG and HOME programs be substantially different than anticipated, commensurate actions may be required by the City that would likely amend what is currently being proposed.
The CDBG and HOME Fund budget is also included in the FY 2025 Community Development Block Grant and Home Investment Partnership Program Action Plan (the Action Plan), which requires approval independent of this budget action. The draft Action Plan includes an estimated budget based on the fifth (5th) year presented in the five-year CDBG and HOME Consolidated Plan as presented in the Action Plan for Fiscal Year 2025. Prior to this budget action, the Action Plan was duly advertised in the Daily Press on March 25, 2024. The required 30-day public hearing comment period for the Action Plan began with the March 25, 2024 advertisement in the Daily Press and concluded on April 24, 2024. All relevant comments received will be included in the Action Plan submission to HUD. The required public hearing was conducted on April 24, 2024 with approval of the proposed plan.
Pursuant to Hampton City Code Sec. 2-50: "No ordinance or resolution appropriating money included in the annual budget shall be passed on the same day of its introduction, except that such an appropriation may be passed on the same day of its introduction by the concurrence of five (5) members of council, pursuant to a motion made for that purpose." This ordinance is being introduced on May 1, 2024. Final approval will be requested at City Council's meeting on May 8, 2024.
Impact:
The total revenues and expenditures for the CDBG and Home Fund budget are $1,640,363.
Recommendation:
May 1, 2024: First reading only.
May 8, 2024: Final approval.
Body
WHEREAS, the City Council is required to annually consider the City Manager's Recommended Budget for the next fiscal year; and to adopt a budget and appropriate, by ordinance, funding consistent with that budget.
BE IT ORDAINED by the City Council of the City of Hampton, Virginia that the attached budget is adopted and appropriations are hereby made for the Community Development Block Grant (CDBG) and HOME Investment Partnership Program (HOME) Fund of the City of Hampton for Fiscal Year 2025 beginning July 1, 2024 and ending June 30, 2025, subject to receipt of funds from the U. S. Department of Housing and Urban Development (HUD), including any supplemental funding, provided for Fiscal Year 2025.