Resolution 4092 - Laserfiche WebLink

II. If the Department of Housing and Urban Development reduces this allocation, then each item will be reduced an equal percentage, including the Community Housing Improvement Program and Community Development Block Grant Administration. If a reduction is large enough to cause a burden, as determined by the staff, then a new budget will be returned to the City Council. III. The Mayor is hereby authorized to make formal application to the U.S. Department of Housing and Urban Development for funding assistance in accordance with this Resolution and the requirements of such application. IV. Any funding assistance so received in 1995 be used for the above projects. V. This Resolution will become part of the formal application to the U.S. Department of Housing and Urban Development. VI. All payments and income from the Housing Rehabilitation Program will be used for rehabilitation purposes and will not be considered as a part of the public service limit in the future. This is estimated at $250,000.00 for 1995. VII. The Housing Hope funding will be a loan with details of terms and conditions to be returned to City Council in a contract. The intent is to start a fund for housing construction programs in the future. VIII. The City will apply to the U.S. Department of Housing and Urban Development to modify prior years' CDBG Final Statements to indicate the reallocations listed above. IX. The required application sections and information are to be sent to the U.S. Department of Housing and Urban Development to complete all application requirements. X. 1993 CDBG funds granted to the Salvation Army for"The Bridge" may now be reallocated. These funds ($50,000.00) will be used for a youth oriented program. A separate process, including advertising a request for proposals and public hearing, will be initiated as soon as possible in order to reallocate these funds. suncilman' t oduci . on PASSED AND APPROVED BY CITY COUNCIL THIS8th DAY OF Marc , 1995. I ` Council Preside t