Title
Ordinance to Adopt a Budget and Appropriate Monies for the Community Development Block Grant (CDBG) and HOME Investment Partnership Program (HOME) Fund for the City of Hampton for the Fiscal Year 2018 beginning July 1, 2017 and ending June 30, 2018
Purpose
Background:
This ordinance adopts a budget and appropriates monies for CDBG and HOME expenditures (projects and activities) as presented in the City Manager's Recommended Budget for Fiscal Year 2018
Discussion:
This ordinance adopts a budget and appropriates monies for the expenditures of the CDBG and HOME Fund for Fiscal Year 2018. The CDBG and Home Fund is one (1) of two (2) Special Revenue Funds. Prior to this action, the budget was duly as part of the FY 2018 Community Block Grant (CDBG) and Home Investment Partnership Program Action Plan (the "Action Plan") that was advertised in the Daily Press on March 30, 2017, which began the required 30 day public hearing comment period for that Plan. The Notice of Public Hearings for the Action Plan were duly advertised in the Daily Press on April 13, 2017 and April 20, 2017. Public Hearings were conducted on April 26, 2017 and May 3, 2017. City Council will adopt the Action Plan on May 3, 2017.
The Action Plan included an estimated budget based on the second (2nd) year presented in the five-year CDBG and HOME Consolidated Plan as presented in the Action Plan for Fiscal Year 2018. The CDBG and HOME Action Plan's estimated budget for fiscal year 2018 is $1,832,601. This ordinance incorporates that budget in the City Manager's Recommended Budget for Fiscal Year 2018. The public hearings necessary to approve that budget were duly advertised in the Daily Press on April 16, 2017 and April 23, 2017. This ordinance may be approved on its first reading.
The primary source of funds for this budget is federal grants from the U. S. Department of Housing and Urban Development which is generally received in or near October. This appropriation ordiance is su...
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