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TO: Mayor Richard C. Irvin
FROM: Rick Guzman, Manager, Neighborhood Redevelopment Division
DATE: January 18, 2018
SUBJECT:
A Resolution Authorizing Annual Action Plan Substantial Amendments (2018 - #1) to Reflect Funding Re/Allocations for the Community Development Block Grant (CDBG) and HOME Investment Partnerships Act (HOME) Programs
PURPOSE:
Staff requests authorization of Annual Action Plan Substantial Amendments (2018-#1) to provide funding for four CDBG projects and one HOME Project. Under this Substantial Amendment, the CDBG reallocated funding is recommended as per unallocated funds, unexpended funds, and/or cancelled projects from the following CDBG and HOME Program Years: 2015, 2016 and 2017.
The following Annual Action Plan Amendment CDBG Activities and Reallocation Totals have been recommended by the BGWC under Substantial Amendment 2018-#1:
1. 2017 Fox Valley Habitat for Humanity Home Ownership Project
Funds have been recommended due to mutually agreed upon changes between the City and Habitat to Habitat's 2015 and 2017 scopes of work to best comply with HUD's environmental regulatory requirements.
Reallocation Total: $26,279.73
2. 2017 Section 108 Credit Subsidy and Admin. Fees for Aurora Arts Centre Project
As part of the City's Section 108 application for the Aurora Arts Centre Project, the City front-funded the project's credit subsidy (2.59% of $3M loan request or $77,700) and administrative fees. With approval from HUD, Staff is seeking retroactive CDBG reimbursement for the fees.
Reallocation Total: $100,000
3. 2017 Choose Aurora (Down Payment Assistance)
The City's Choose Aurora program application was submitted for an additional $100,000 under the City's 2018 CDBG funding cycle; however, to maintain the program's funding availability, Staff recommended that the program's 2018 CDBG funding request be reduced by $50,000 and to instead increase the project's existing 2017 project by $50,000 to maintain its funding availabil...
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