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Budget Sources 8 <br /> 2009 CDBG Entitlement (estimated) $900,000.00 <br /> 2009 CDBG Stimulus $249,826.00 <br /> 2009 HOME funds(estimated) $430,305.00 <br /> CHIP Fund 197 Funds $68,860.00 <br /> 2008 Housing Trust 2060 Funds $198,893.50 <br /> 2007 &2008 ADDI Funds $14,880.00 <br /> Reallocations <br /> 2007/2008 WAHOYO (HOME) $250,712.00 <br /> Total Budget Sources $2,113,476.50 <br /> 2. If the Department of Housing and Urban Development reduces or increases this allocation, each item <br /> will be reduced or increased an equal percentage, including the Community Housing Improvement <br /> Program and Community Development Block Grant Administration. If a reduction is large enough to <br /> cause a burden, as determined by the staff, a new budget will be returned to the City Council for review <br /> and approval. <br /> 3. If HUD does not allow CDBG Stimulus funds to be used for public services, any CDBG Stimulus <br /> funds designated for public services in this resolution will be used for CHIP single family rehabilitation <br /> loans. <br /> 4. The Mayor is hereby authorized to make formal application to the U.S. Department of Housing and <br /> Urban Development for funding assistance in accordance with this Resolution and the requirements of <br /> such application. <br /> 5. This Resolution will become part of the formal application to the U.S. Department of Housing and <br /> Urban Development and to the State of Washington. <br /> 6. All payments and income from the Housing Rehabilitation Program (Fund 197)will be used for CHIP <br /> housing rehabilitation purposes other than described in this resolution. This is estimated at <br /> $200,000.00 for 2009. <br /> 7. All payments and income from the HomeSite down payment assistance program will be used for down <br /> payment assistance. This is estimated at$30,000.00 for 2009. <br /> 8. The requested funding for the Boys and Girls Club Cascade Club Improvements for 2009 will be <br /> funded from funds remaining from prior years for the Cascade Club. <br /> 9. The Department of Housing and Urban Development required the combining of administrative and loan <br /> funds to be managed as a single source of funds for CHIP. The City Council approved this new <br /> approach in the 2009 budget and it intended that the CHIP administrative and loan funds are managed <br /> as one fund. <br /> 10. The 2008 Action Plan is hereby amended to allow funds allocated to individual Boys and Girls Clubs to <br /> be used for any of the Cascade Club,the Trailside Club, and the North Everett Club to accomplish the <br /> club improvement projects proposed in the 2008 Action Plan. This is not considered by the City to be a <br /> substantial amendment to the 2008 Action Plan. <br /> 11. Housing and capital projects funded with Community Development Block Grant, HOME, and Housing <br /> Trust(2060) funds will be loans with terms and conditions brought back in contract form for City <br /> Council approval. This does not include loans approved by the Community Housing Improvement <br /> 99 <br />