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 2022 beginning July 1, 2021 and ending June 30, 2022
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 2022.
Discussion:
This ordinance adopts a budget and appropriates monies for the expenditures of the CDBG and HOME Fund for Fiscal Year 2022. The CDBG and Home Fund is one 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 18, 2021 and April 25, 2021. This ordinance is being introduced on May 5, 2021. Final approval will be requested at City Council's meeting on May 12, 2021.
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 received in or near October. This appropriation ordinance is subject to the receipt of those funds for the applicable fiscal year. There are indications that the CDBG program may be substantially reduced or eliminated by the federal government. If that occurs, 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 2022 Community Development Block Grant and Home Investment Partnership Program Action Plan (the "Action Plan"), which requires approval independent of this budget action. The current Action Plan includes an estimated budget based on the first (1st) year pr...
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