Title
A Resolution Of The City Commission Of The City Of Hollywood, Florida, Amending The One Year Action Plans For Fiscal Years 2007-2008, 2008-2009, 2009-2010, 2011-2012, 2012-2013 And 2013-2014 To Recognize And Authorize The Reallocation Of $25,947.32 Of Unexpended Community Development Block Grant (CDBG) Program Funds And Unallocated Program Income As Detailed In The Attached Exhibit "A"; Recognizing And Authorizing The Reallocation Of $27,313.13 Of Fiscal Year 2011-2012 Unexpended Home Investment Partnership (HOME) Funds And Unallocated Program Income, $234,853.04 Of Fiscal Year 2012-2013 Unexpended HOME Funds And Unallocated Program Income, And A $156,309.00 Reduction In Allocated Funding From The Fiscal Year 2013-2014 HOME Funds As Detailed In The Attached Exhibit "B"; Recognizing And Authorizing The Allocation Of $40,543.42 Of Housing And Economic Recovery Act Of 2008 Neighborhood Stabilization Program (NSP-1) Program Income As Detailed In The Attached Exhibit "C"; And Further Recognizing And Authorizing The Allocation Of $113,443.26 Of Dodd-Frank Wall Street Reform And Consumer Protection Act Neighborhood Stabilization Program (NSP-3) Program Income As Detailed In The Attached Exhibit "D".
Body
Staff Recommends: Approval of attached Resolution.
Explanation:
At the completion of each fiscal year, budgets from past CDBG program years are reviewed for program compliance. Unexpended funds and program income is reallocated to other eligible activities.
This resolution recognizes additional program income received from the CDBG, HOME, NSP-1, and NSP-3 programs. In addition, this resolution reallocates funds between budget line items to various eligible activities which are detailed in Exhibit "A" and Exhibit "B" of the resolution.
It is recommended that after the public hearing the City Commission adopt the resolution approving the program amendments.
Recommended for inclusion on the agenda by:
Cathy Swanson-Rivenbark, City Manager
Davon Barbour, Director, Community & Economic Development