HomeMy WebLinkAbout10522RESOLUTION NO. 10522
A RESOLUTION OF INTENT TO TRANSFER AND REPROGRAM UNENCUMBERED FEDERAL
COMMUNITY DEVELOPMENT BLOCK GRANT (CDBG) FUNDS FROM PRIOR YEAR
PROJECTS TO CP0209 — STREET OVERLAY
WHEREAS, the City of Pueblo is designated as an entitlement city under the Housing and
Community Development Act of 1974, and has received in prior years Community Development
Block Grant funds; and
WHEREAS, the City of Pueblo annually reviews all CDBG projects for completion and
progress, unencumbered funds resulting from this review are slated for reprogramming. The City
conducts public hearings to obtain the views of citizens, non - profit and neighborhood groups on the
proposed use of funds.
NOW, THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1.
The City intends to reprogram and transfer $254,042.46 in unencumbered Community
Development Block Grant funds to CP0209- Street Overlay. The funds will be used toward the
repaving of streets in low- to moderate - income neighborhoods. Attachment 1 denotes the
proposed changes. The City will hold a public hearing to receive comments on the proposed use
of the funds in October 2005.
INTRODUCED September 26, 2005
APP
PRES1DENT 9F CITY CPYWIL
• A, t
BY Michael Occhiato
Councilperson
&G, "10522
minio
Background Paper for Proposed
RESOLUTION
AGENDA ITEM # a
9 -26 -05
DATE: September 26, 2005
DEPARTMENT: HOUSING AND CITIZEN SERVICES / ADA RIVERA CLARK
TITLE
A RESOLUTION OF INTENT TO TRANSFER AND REPROGRAM
UNENCUMBERED FEDERAL COMMUNITY DEVELOPMENT BLOCK GRANT
(CDBG) FUNDS FROM PRIOR YEAR PROJECTS TO CP0209 — STREET
OVERLAY
ISSUE
The approval of a resolution allowing for the transfer of unencumbered CDBG
funds for the repaving of streets in low -to moderate - income neighborhoods.
RECOMMENDATION
Approval of the Resolution
BACKGROUND
In an effort to assure that the City meets its required CDBG expenditure ratio, the
Department has closed out several CDBG projects that have been completed or
have not progressed. The resulting unencumbered amount is $254,042.46. It is
the recommendation of staff that the funds be transferred and reprogrammed for
the repaving of streets in low- to moderate - income neighborhoods.
The Department of Housing and Citizen Services will hold a public hearing in
October 2005, which will be advertised in the local newspaper to receive
comments on the proposed changes. Attachment 1 denotes the proposed
changes.
FINANCIAL IMPACT
The amount of excess CDBG funds that may be reprogrammed is $254,042.46.
The funds are to be transferred to CDBG project CP0209. The funds are
available from unencumbered balances in fund 250 - 9540 - 600- 80 -50.