RES 96028 - Laserfiche WebLink

Resolution No. 96-28 Page Two Section 1: Council approves the overall funding program for the City's Community Development Block Grant (CDBG) program for Fiscal Year 1996/97 as depicted in Table A of the staff report, including the allocation of $57,500 in City Housing Funds to two agencies. Section 2: Council approves the initial disbursement of the first-stage allocation of $139,000 in CDBG funds to all projects on a proram basis as shown in Table B to address the current federal budget situation. Section 3: Council authorizes staff to make adjustments to the budget to accommodate the final grant amount when the second-stage allocation is received from HUD. In the case of a surplus (i.e., if the total grant is more than $300,000), excess funds shall be distributed on a prorata basis to projects which were not fully funded in the recent allocation process, with a goal of funding all projects as close as possible to the amount oriOnally requested. In the case of a deficit, staff is authorized to do the following: 1) Reduce the budget for each public service project by an equal percentage to amain the total amount of public services funding allowed (15% of the total grant amount); 2) Deduct the remainder of the deficit on a prorata basis from the capital/rehabilitation projects which were allocated funding in the 1996 cycle (shown in Table C of the staff report); and 3) Deduct any remaining deficit, if applicable, from the capital/rehabilitation projects which were allocated 1996/97 funds in the 1995 cycle (shown in Table A of the staff report). Section 4: Council directs st_aff~ under the authority of the City Manager, to submit the Final Statement and all other required documentation for the City's CDBG program for FY 1996/97 to the Department of Housing and Urban Development (HUD) in conformance with HUD procedures and deadlines. Section 5: Council authorizes the City Manager to enter into individual contracts with each agency receiving Pleasanton CDBG funding in FY 1996/97 and to take all other necessary actions to carry out the CDBG program for FY 1996/97. Section 6: This resolution shall become effective immediately upon its passage and adoption.