Title
Hearing to consider adoption of Resolution 08-2008 amending the El Dorado County Reuse Plan governing Program Income from Community Development Block Grant (CDBG)-assisted activities to ensure ongoing compliance with State Regulations and to allow for continued provision of assistance to housing rehabilitation, housing acquisition and business expansion and retention applicants/recipients; and recommending the Director of said Department be authorized to sign the amended plan on behalf of the County for submittal to the State Department of Housing and Community Development.
Body
BUDGET SUMMARY:
Total Estimated Cost $0
Funding
Budgeted $
New Funding $
Savings $
Other $
Total Funding Available $
Change To Net County Cost $0
Fiscal Impact/Change to Net County Cost: None
Background:
In accordance with federal regulatory requirements, in order to re-use loan proceeds from various Community Development Block Grant loan activities, the County established a Program Income Reuse Plan that contains guidelines for the administration and utilization of program income received as a result of activities funded under the State CDBG Program. On 10/30/07 the Board approved an amended Program Income Reuse Plan, which had been previously reviewed and approved by the California Department of Housing and Community Development (HCD). Subsequently, HCD has required that the Program Income Reuse Plan include additional language under the Housing Acquisition activity and that the Amendment and Resolution reflect an amendment number.
Reason for Recommendation:
El Dorado County has received various Community Development Block Grant (CDBG) grants, including Housing Rehabilitation, Housing Acquisition and Business Expansion and Retention grants to improve housing and employment conditions among eligible low-income residents of the County. The Program Income Reuse Plan reflects specific allowable uses fo...
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