Title
FY 2019 Community Development Block Grant (CDBG) and HOME Investment Partnership Program (HOME) Budget Amendment
Purpose
PURPOSE/BACKGROUND:
On February 23, 2019, after a presentation and public hearing, the City Council approved certain amendments to the Annual Goals and Objectives of the FY 2019 Community Development Block Grant and Home Investment Partnership Annual Action Plan. The current action is to amend the FY 19 Approved Budget and appropriate funds related to those approved plan amendments.
Discussion:
The U. S. Department of Housing and Urban Development ("HUD") annually awards CDBG and HOME funds to the City to develop viable urban communities by providing improved housing, suitable living environments and economic opportunities for those in the low-to-moderate household income bracket. The City uses these funds to complement other resources for implementing the Hampton Neighborhood Initiative. This ordinance amends a budget and appropriates monies for the expenditures of the CDBG and HOME Fund for Fiscal Year 2019.
The CDBG and Home Fund is one (1) of three (3) Special Revenue Funds. The annual grant allocation received from HUD included an increase of funding of $16,041 for CDBG and $166,720 for HOME. The amended budget includes both revenues and expenditures as described on the attached schedule.
Impact:
The increase in funding will allow additional homes to be redeveloped by the program.
Recommendation:
Rec
Adoption of Amendment Ordinance
Body
BE IT ORDAINED by the City Council of the City of Hampton, Virginia that the attached amended 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 2019 beginning July 1, 2018 and ending June 30, 2019 ("2019 Fiscal Year"), and any additional funding that may be awarded and/or otherwise received for the 2019 Fiscal Year.