Title
Department of Human Services recommending the Board approve a Budget Transfer appropriating $222,500 in funding from the Department of Housing and Community Development for Community Development Block Grant 10-STBG-6711 for provision of Housing Rehabilitation Loans and Public Improvements in Support of Housing New Construction activities during the term March 15, 2011 through June 30, 2013 and adjusting the General Fund match of $7,500 to this specific grant project. (4/5 vote required)(Cont'd 4/19/11, Item 11)
FUNDING: Federal Department of Housing and Urban Development.
Body
BUDGET SUMMARY:
Total Estimated Cost FY 2010/11 portion $233,000.00
Funding
Budgeted $ 7,500.00
New Funding $225,500.00
Savings $
Other $
Total Funding Available $233,000.00
Change To Net County Cost $0.00
Fiscal Impact/Change to Net County Cost: No change in budgeted Net County Cost.
The $7,500 required match will be met with a portion of the Department of Human Services’ Housing Element General Fund budgeted for this purpose. Only a portion of the total grant funds awarded will be budgeted in FY 2010/11; the remaining grant funds will be budgeted throughout the term of the grant ending June 30, 2013.
Reason for Recommendation:
On June 15, 2010 the Board adopted Resolution No. 075-2010 authorizing submittal of an application to the California Department of Housing and Community Development (HCD) for a Community Development Block Grant (CDBG) in the amount of $800,000 to continue to provide Housing Rehabilitation Loans and fund public improvements in support of an affordable housing development known as Sunset Lane Apartments, approving a $7,500 required match, and further authorized the Director of Human Services to execute the Standard Agreement contingent upon approval by County Counsel and Risk Management. HCD subsequently awarded the grant to El Dorado County on October 18, 2010. County Cou...
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