CITY COUNCIL AGENDA ITEM
Memo Date: August 7, 2014
Agenda Date: August 27, 2014
Prepared By: Connor Williams, Grants Writer - Economic Development Specialist
Through: Rebecca Bowman, MBA, CGFO, CGFM, Finance Director; Stockton Whitten, City Manager
Requested Action:
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Approve a Resolution Amending the FY25 Budget, BAF#24-123-T, for the provision of $50,000 of State and Local Fiscal Recovery Funds (SLFRF) funds earmarked for community-based expenditures toward the City's repair/rehabilitation program, to fund projects presently on the program's wait list.
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BACKGROUND:
The City operates a repair/rehabilitation program, funded primarily through the State Housing Initiative Program (SHIP). Currently, the program has 24 homes on its waitlist, while 3-5 homes are serviced each year at an average of $70,000 in renovation costs per home.
On May 10, 2022, Council approved Agenda Item 22-284 establishing a community-based reimbursement grants program utilizing State and Local Fiscal Recovery Funds (SLFRF). This program, which came to be known as the "Summer for the Kids" Program, awarded two organizations $10,000 in accordance with the grant funding requirements, leaving $50,000 remaining for community-based uses.
To utilize the remaining funding Staff explored alternative uses that do not meet the intentions sought for community-based uses and therefore would not qualify under the specific uses for SLFRF projects.
Staff believes that the City's repair/rehabilitation program, due to complying with SHIP's requirements, also falls under the beneficiary and activity allowances of the SLFRF, by facilitating the rehabilitation of residential and non-residential structures that benefit populations disproportionately impacted by the COVID-19 pandemic. The $50,000 in SLFRF funds will significantly shorten the program's current waitlist.
Staff is requesting Council Approval to approve BAF#24-123-T and the transfer of these SLFRF funds to the City's rep...
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