Title
HEARING - Community Development Agency, Long Range Planning Division, Housing, Community and Economic Development Program recommending the Board consider the following:
1) Conduct a Public Hearing to consider adopting and authorizing the Chair to sign Resolution 141-2016 revising the El Dorado County Community Development Block Grant Program Income Reuse Plan governing a Program Income revolving loan fund in accordance with the federal Community Development Block Grant regulations governing Community Development Block Grant-assisted activities; and
2) Authorize the Community Development Agency Director, or designee, to sign the revised Community Development Block Grant Program Income Reuse Plan for submittal to the California Department of Housing and Community Development and administer the Plan on behalf of the County. (Est. Time: 10 Min.)
FUNDING: Community Development Block Grant Funds. (Federal Funds)
Body
DEPARTMENT RECOMMENDATION
Community Development Agency, Long Range Planning Division, Housing, Community and Economic Development Program (HCED) recommending the Board consider the following:
1) Conduct a Public Hearing to consider adoption of Resolution 141-2016 revising the El Dorado County Community Development Block Grant (CDBG) Program Income Reuse Plan governing a Program Income revolving loan fund in accordance with the federal CDBG regulations governing CDBG-assisted activities; and
2) Authorize the Community Development Agency Director, or designee, to sign the revised CDBG Program Income Reuse Plan for submittal to the State Department of Housing and Community Development and administer the Plan on behalf of the County.
DISCUSSION/BACKGROUND:
In accordance with federal regulatory requirements, there are specific rules and requirements associated with the management and use of program income proceeds received by the County from various CDBG activities. “Program income'' is defined as gross income received by a state, a unit of general ...
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