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HomeMy WebLinkAbout10549RESOLUTION NO. 10549 A RESOLUTION TRANSFERRING AND REPROGRAMMING UNENCUMBERED FEDERAL COMMUNITY DEVELOPMENT BLOCK GRANT FUNDS FROM PRIOR YEAR PROJECTS TO CD0528 — 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 of Pueblo held a public hearing on October 27, 2005 to receive comments on the reprogramming of funds from completed or canceled projects to a new CDBG project called Street Overlay. The projects are outlined in Attachment 1. The comments received at the hearing are contained in Attachment 2. The funds are to be transferred to CD0528- Street Overlay. SECTION 2. The City hereby transfers and reprograms $254,042.46 in unemcumbered Community Development Block Grant funds to the Street Overlay project. INTRODUCED November 14, 2005 / ,; s BY Michael Occhiato Councilperson - i Background Paper for Proposed RESOLUTION &. :t11651-19 AGENDA ITEM # a DATE: November 14, 2005 DEPARTMENT: HOUSING AND CITIZEN SERVICES / ADA RIVERA CLARK TITLE A RESOLUTION TRANSFERRING AND REPROGRAMMING UNENCUMBERED FEDERAL COMMUNITY DEVELOPMENT BLOCK GRANT FUNDS FROM PRIOR YEAR PROJECTS TO CD0528 — 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 projects are outlined in Attachment 1. It is the recommendation of staff that $254,042.46 of the funds be transferred and reprogrammed for the repaving of streets in low- to moderate - income neighborhoods. On September 26, 2005, Council approved a resolution of intent to transfer and reprogram the funds, thereby instructing staff to proceed with meeting the necessary requirements. The Department of Housing and Citizen Services held a public hearing on October 27, 2005. The meeting was advertised in The Pueblo Chieftain. The comments received at the meeting are contained in Attachment 2. 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 CD0528. The funds are available from unencumbered balances in fund 250 -9540- 600- 80 -50.